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What is Environmentally-Friendly Products

Chapter 3
Handbook of Research on Developing Sustainable Value in Economics, Finance, and Marketing
Products perceived as being environmentally friendly, such as those made from recycled materials or those that do not contain harmful substances.
Published in Chapter:
Premium Price for Environmentally Friendly Products in the Malaysian Market
Jeen Wei Ong (Multimedia University, Malaysia), Choon Yih Goh (Multimedia University, Malaysia), Marianne Shing Mei Too (Multimedia University, Malaysia), Gerald Guan Gan Goh (Multimedia University, Malaysia), and Lee Pheng Goh (Multimedia University, Malaysia)
Copyright: © 2015 |Pages: 14
DOI: 10.4018/978-1-4666-6635-1.ch003
Abstract
This chapter aims to identify the percentage of premium and absolute price that consumers are willing to pay for environmentally friendly products. The approach of existing studies in asking the percentage of the price premium that consumers are willing to pay for environmentally friendly products could lead to the risk of a socially desirable response, making the research conclude a biased finding. To verify this argument, this chapter compares the percentage of price premium that the respondents claimed to be willing to pay with the absolute price that the respondents were willing to pay for the environmentally friendly products. The findings of the study show that the respondents were willing to pay a higher price for both daily usage and durable environmentally friendly products. As such, the findings reveal that the respondents could have over-claimed the percentage of premium price that they are willing to pay for environmentally friendly products.
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