ANALYZING CONSUMERS' DEMAND FUNCTIONS FOR CUT-FLOWER PRODUCTS: A CASE STUDY OF PUNJAB, PAKISTAN
Umran Malik , Institute of Agricultural and Resource Economics, University of Agriculture, Faisalabad, PakistanAbstract
This research investigates consumers' demand functions for cut-flower products through a case study conducted in Punjab, Pakistan. Understanding consumers' preferences and behaviours is essential for effective market analysis and strategic decision-making. The study employs econometric modelling to estimate demand functions, considering factors such as price, income, and socio-demographic variables. Through surveys and data analysis, the research quantifies the responsiveness of consumers to changes in prices and income levels. The findings provide valuable insights into consumer preferences, price elasticity, and market dynamics for cut-flower products in the Punjab region of Pakistan.
The global cut-flower industry is a significant component of the horticultural sector, contributing to economic development and providing aesthetic and cultural value. This study investigates consumers' demand functions for cut-flower products in Punjab, Pakistan, shedding light on the preferences, purchasing behaviour, and socioeconomic factors that influence floral consumption patterns in this region.
Through a rigorous survey and data analysis, we examine the determinants of demand for cut flowers, considering factors such as income, price, cultural influences, and seasonality. The study utilizes econometric models to estimate price elasticities and income elasticities of demand, offering insights into the responsiveness of consumers to price changes and shifts in income.
Preliminary findings reveal that cut-flower consumption in Punjab exhibits price elasticity, suggesting that consumers are sensitive to changes in flower prices. Furthermore, income elasticity results indicate that cut-flower consumption tends to increase with rising incomes, signalling a potential growth opportunity for the local floral industry as the region experiences economic development.
Cultural and seasonal factors also play a significant role in shaping consumer preferences, with particular flower varieties being favoured for specific occasions and festivals. Understanding these cultural nuances is vital for local flower growers and retailers to cater to consumer demand effectively.
This research contributes to the horticultural and agricultural sectors by providing valuable insights into consumer behaviour within the cut-flower market. By comprehensively analysing consumers' demand functions, policymakers, growers, and marketers can make informed decisions regarding pricing strategies, marketing campaigns, and product divers.
Keywords
Consumers' demand functions, cut-flower products, market analysis
References
Usman M, Ashfaq M, Ali I. Economics analysis of statice cut-flower production in Punjab, Pakistan. Pak J Agric Sci 2013;50:311-5.
Ikram S, Habib U, Khalid N. Effect of different potting media combinations on growth and vase life of tuberose (Polianthes tuberosa Linn). Pak J Agric Sci 2012;49:121-5.
Bagchi M, Raha, SK. Post – Harvest loss of flower and its impacts on flower marketing in Bangladesh. Econ Aff 2011;56:205-11.
Singh BK, Rakesh ES, Yadav VP, Singh DK. Adoption of commercial cut flower production technology in Meerut. Indian Res J Ext Educ 2010;10:50-3.
Usman M, Ashfaq M. An economics analysis of gladiolus production in Punjab, Pakistan. JAgric Res 2013;51:317-26.
Zeb J, Khan Z, Khan AS. Marketing of floriculture in NWFP. Sarhad J Agric 2007;23:815-22.
Usman M, Ashfaq M. Economics analysis of tuberose production in Punjab, Pakistan. Sarhad J Agric 2013;29:279-84.
Manan MA, Howlader U, Babar MH, Rehman MM,Gain P. Present status of cut flower cultivation and problems confronted by the farmers at Jhikargachha Upazilla of Jessore. South Asian J Agric 2007;2:89-94.
Usman M, Ashfaq M, Taj S, Abid M. An economic analysis of cut-rose flower in Punjab, Pakistan. JAnim Plant Sci 2014;24:651-5.
Article Statistics
Copyright License
Copyright (c) 2023 The American Journal of Horticulture and Floriculture Research
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.