Investigating Buyer’s Perceptions and Purchase Decisions for New Product Development: A Case of Feed Additive from Popped Rice

Abstract

The aim of the study is to develop product innovation based on Thai rice.  This research intends to further develop popped rice into zinc oxide-doped activated carbon for animal feed additive, to study buyer’s perceptions and purchase decisions for new product development.  The study used the mixed methodological approach.  The first step began with idea generation to identify alternative advantage of the new product.  The ideas of assessment phase led to a review of important criteria which showed that new product development for animal feed additive had the highest weighted score.  The qualitative research was conducted through in-depth personal interviews with 10 participants working in the animal feed industry.  The quantitative research was conducted through the questionnaire survey with 72 respondents working in swine farms, deciding the products bought for animal feeds. The combined results revealed that zinc oxide-doped activated carbon made from popped rice can potentially penetrate the feed additive market. However, the producer needs solid proof or certification in relation to the product’s features and its efficiency with the competitive price. The results suggested that buyers of animal feed additive with the greater concern for price, brand, and reputation of manufacturer will lead to less chance for customers to consider buying the new product of zinc oxide-doped activated carbon from popped rice for animal feed additive.  Thus, the developer may need to create a reputation by getting product qualification certificate.