Factors affecting consumers' willingness to pay for functional foods in Vietnam

Ordered probit model is used to analyze 11 independent factors, socio-demographic characteristics, family health condition, experience of functional food consumption and mass media impact those are presumed to affect the willingness to pay for functional food by Vietnamese consumers. Contingent valuation using the payment card method was used to elicit the premium that respondents are willing to pay for 2 popular functional food items which is selected from the pilot survey, Diabetes milk-functional food for diabetes patients and bone health milk-for general consumer. The outcome of this study is expected to provide initial but important information of factors leading to the willingness to pay for functional foods. It helps functional developers, marketers and Vietnamese authorities to develop a good health programs, marketing programs specifically for Vietnamese people.