The feasibility analysis of an industrial business project and The Willingness to Pay of Consumers for Cosmetic Products Made from Thai Herbal Plants for Facial Color Decoration
DOI:
https://doi.org/10.48047/wmaqt917Keywords:
Willingness to pay, Contingent Valuation Method, State Preference MethodAbstract
This research aims to analyze the feasibility of an industrial business project and the consumers' Willingness to Pay (WTP) for herbal-based cosmetic products. The study focuses on consumers of community enterprise products across four regions of
the country. The sample consists of 500 consumers, with data collected through interviews. The research results are divided into three parts: general demographic analysis, WTP value analysis, and business project feasibility analysis. The findings indicate that factors influencing WTP include net income and education level, with individuals having higher income and education levels showing a greater willingness to pay for herbal-based cosmetic products. Women and older individuals tend to prefer safer and higher-quality products. Regarding marital status, married individuals place a greater emphasis on health safety
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References
Carlos P., Villalobos, P., Spiller, A., & Henrry, G., (2007). Consumer Preference and Willingness to Pay for an Officially Certified Quality
Label. Implications for Traditional Food Producers. Agricultura Tecnica. 67: 300-308
Darby, K., Batte, M.T., Ernst, S.C., & Roe, B.E., (2006). Willingness to Pay for Locally Produced Foods: A Customer Intercept Study of Direct
Market and Grocery Story Shoppers. CA: The American Agricultural Economics Association.
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