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