To read this content please select one of the options below:

Are consumers willing to pay a premium for art-infused products?

Mansi Gupta (Lal Bahadur Shastri Institute of Management, New Delhi, India)

South Asian Journal of Business Studies

ISSN: 2398-628X

Article publication date: 8 February 2023

169

Abstract

Purpose

Art-infusion has become a common practice among brands across the globe. This is because marketers leverage the uniqueness and prestige of arts to earn superior profits. Hence, this research aims to understand and measure consumers' willingness to pay (WTP) for art-infused products.

Design/methodology/approach

A questionnaire was designed based on conjoint analysis and was responded to by 470 respondents from India. The estimation of preference functions in conjoint analysis was intended to use orthogonal arrays to measure WTP.

Findings

The study reveals consumers' utility and WTP for different art-infused products. The results indicated that consumers have the highest WTP for products that have artwork dominated by the visual elements of colour, shapes and space.

Practical implications

The paper presents valuable findings for marketers to develop their product design and earn superior profits.

Originality/value

This is the first study in the domain of the art infusion phenomenon that measures WTP for non-luxury art-infused products. Also, this is the first study to measure WTP for different kinds of art forms.

Keywords

Citation

Gupta, M. (2023), "Are consumers willing to pay a premium for art-infused products?", South Asian Journal of Business Studies, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/SAJBS-04-2022-0151

Publisher

:

Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

Related articles