Low-hanging fruits

Impact of socio-economic and behavioural characteristics on consumers’ willingness to pay

Research output: Contribution to journalArticle

Abstract

Energy efficiency is generally recognized as the “low-hanging fruit in a country’s pursuit of energy security and low carbon economy. The promotion of energy efficient products at home is considered as a cost effective way in reducing energy consumption for indoor building. This research aims to examine consumer willingness to pay (WTP) in respect to energy label air-conditioner products. For this purposes, study discussed two main hypotheses which relate to socio-economic and behavioural characteristics. Result from the ordered logit model shows that income, household’s size, perceived of product advantages and perceived behaviour control negative have a significant impact on consumers’ willingness to pay. The findings of the study will contribute to the knowledge on how individual values for the environmental product innovation by making pragmatic policy recommendations that formulate strategies for addressing bottlenecks in accessing energy services by consumers. Understanding the consumers’ willingness to pay will provide invaluable insights into consumer oriented market segment with new avenues for marketers’ thought into green marketing strategy. These findings also would assist Malaysian green innovation product firms to successfully market in Malaysia.

Original languageEnglish
Pages (from-to)107-117
Number of pages11
JournalMalaysian Journal of Consumer and Family Economics
Volume19
Publication statusPublished - 1 Jan 2016

Fingerprint

Willingness-to-pay
Fruit
Socio-economics
Energy
Income
Ordered logit model
Green marketing
Household size
Product innovation
Marketers
Green innovation
Market segments
Malaysia
Energy consumption
Air
Energy efficiency
Policy making
Marketing strategy
Individual values
Carbon

Keywords

  • Behavioural characteristics
  • Energy efficiency
  • Socio-economics
  • Willingness to pay

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

@article{96e7fcacd9b34be2a96b160890420577,
title = "Low-hanging fruits: Impact of socio-economic and behavioural characteristics on consumers’ willingness to pay",
abstract = "Energy efficiency is generally recognized as the “low-hanging fruit in a country’s pursuit of energy security and low carbon economy. The promotion of energy efficient products at home is considered as a cost effective way in reducing energy consumption for indoor building. This research aims to examine consumer willingness to pay (WTP) in respect to energy label air-conditioner products. For this purposes, study discussed two main hypotheses which relate to socio-economic and behavioural characteristics. Result from the ordered logit model shows that income, household’s size, perceived of product advantages and perceived behaviour control negative have a significant impact on consumers’ willingness to pay. The findings of the study will contribute to the knowledge on how individual values for the environmental product innovation by making pragmatic policy recommendations that formulate strategies for addressing bottlenecks in accessing energy services by consumers. Understanding the consumers’ willingness to pay will provide invaluable insights into consumer oriented market segment with new avenues for marketers’ thought into green marketing strategy. These findings also would assist Malaysian green innovation product firms to successfully market in Malaysia.",
keywords = "Behavioural characteristics, Energy efficiency, Socio-economics, Willingness to pay",
author = "Norzalina Zainudin and Chamhuri Siwar and Er, {Ah Choy} and Norshamliza Chamhuri",
year = "2016",
month = "1",
day = "1",
language = "English",
volume = "19",
pages = "107--117",
journal = "Malaysian Journal of Consumer and Family Economics",
issn = "1511-2802",
publisher = "Malaysian Consumer and Family Economics Association",

}

TY - JOUR

T1 - Low-hanging fruits

T2 - Impact of socio-economic and behavioural characteristics on consumers’ willingness to pay

AU - Zainudin, Norzalina

AU - Siwar, Chamhuri

AU - Er, Ah Choy

AU - Chamhuri, Norshamliza

PY - 2016/1/1

Y1 - 2016/1/1

N2 - Energy efficiency is generally recognized as the “low-hanging fruit in a country’s pursuit of energy security and low carbon economy. The promotion of energy efficient products at home is considered as a cost effective way in reducing energy consumption for indoor building. This research aims to examine consumer willingness to pay (WTP) in respect to energy label air-conditioner products. For this purposes, study discussed two main hypotheses which relate to socio-economic and behavioural characteristics. Result from the ordered logit model shows that income, household’s size, perceived of product advantages and perceived behaviour control negative have a significant impact on consumers’ willingness to pay. The findings of the study will contribute to the knowledge on how individual values for the environmental product innovation by making pragmatic policy recommendations that formulate strategies for addressing bottlenecks in accessing energy services by consumers. Understanding the consumers’ willingness to pay will provide invaluable insights into consumer oriented market segment with new avenues for marketers’ thought into green marketing strategy. These findings also would assist Malaysian green innovation product firms to successfully market in Malaysia.

AB - Energy efficiency is generally recognized as the “low-hanging fruit in a country’s pursuit of energy security and low carbon economy. The promotion of energy efficient products at home is considered as a cost effective way in reducing energy consumption for indoor building. This research aims to examine consumer willingness to pay (WTP) in respect to energy label air-conditioner products. For this purposes, study discussed two main hypotheses which relate to socio-economic and behavioural characteristics. Result from the ordered logit model shows that income, household’s size, perceived of product advantages and perceived behaviour control negative have a significant impact on consumers’ willingness to pay. The findings of the study will contribute to the knowledge on how individual values for the environmental product innovation by making pragmatic policy recommendations that formulate strategies for addressing bottlenecks in accessing energy services by consumers. Understanding the consumers’ willingness to pay will provide invaluable insights into consumer oriented market segment with new avenues for marketers’ thought into green marketing strategy. These findings also would assist Malaysian green innovation product firms to successfully market in Malaysia.

KW - Behavioural characteristics

KW - Energy efficiency

KW - Socio-economics

KW - Willingness to pay

UR - http://www.scopus.com/inward/record.url?scp=85043771424&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85043771424&partnerID=8YFLogxK

M3 - Article

VL - 19

SP - 107

EP - 117

JO - Malaysian Journal of Consumer and Family Economics

JF - Malaysian Journal of Consumer and Family Economics

SN - 1511-2802

ER -