Marketing, Economics & Consumer Behavior with guests Dr. Aleksan Shanoyan, Kansas State University; Dr. Lonnie Hobbs, Jr., Kansas State University and Debbie Phillips-Donaldson, Watt Global Media

Dr. Shanoyan gave a presentation titled “Wishlist to Shopping Cart: Understanding Pet Food Buyers’ Preferences and Purchasing Behaviors.” Consumers were asked what they would like to buy (wishlist) and what they’re currently buying (shopping cart), and attributes were matched between the two sets of answers. What are the differences between someone whose wishlist and shopping cart match perfectly and someone whose wishlist and shopping cart do not?  (10:19) Dr. Hobbs’ presentation was “Pet Food Perspectives: Exploring Customer Perceptions and Value of Sustainability and Other Product Attributes.” Do customers actually value sustainability? What are they looking for? What are they willing to pay for sustainability? (15:22) The panelists discuss reasons for a disconnect between what people say they wish to do and what they actually do in regard to pet food purchases. They talk about personal definitions of sustainability as well as generational differences in perceptions and willingness to pay.  (19:21) Dr. Shanoyan gives some key pointers for pet food companies to consider when developing new products. Dr. Hobbs covers some current trends for where consumers are purchasing pet foods, where they get information about pet foods, and how those differ among generations of consumers. (27:01) The panel agrees that reviews are of critical importance to successful e-commerce marketing and shares experiences from their individual perspectives. They also talk about the use of AI technology and the importance for pet food companies to have accurate information available to represent their products when those technologies are used by consumers. (34:34) Dr. Hobbs talks about researching the price premiums of health benefit attributes in pet food and how marketing claims can influence consumer assumptions and perceptions. The group also discusses the value in creating a survey group to repeatedly gather information from consumers to assess long-term trends. (43:24) Panelists share their take-home thoughts. (51:15) Please subscribe and share with your industry friends to invite more people to join us at the Real Science Exchange - Companion Animal virtual pub table.   If you want one of our Real Science Exchange t-shirts, screenshot your rating, review, or subscription, and email a picture to [email protected]. Include your size and mailing address, and we’ll mail you a shirt.