Abstract
With the implementation of China's three-child policy, the maternal and infant industry has grown in popularity. This industry's size has given it a dominant position in the national economy. Furthermore, the most crucial segment of this industry is infant milk powder. However, foreign-imported milk powder products currently dominate the market share. The top five foreign brands account for more than 40% of the market. Foreign brands account for more than 80% of sales in some cities. Furthermore, even with the assistance of government policies, the net profit margin of domestic milk powder continues to fall. The development of domestic milk powder companies remains difficult. This study surveyed consumers' preferences and willingness to pay for five characteristics of infant milk powder: milk source, product function, discount strategy, brand, and price. The survey was carried out in the Chinese cities of Wuhan and Nanjing. The questionnaire responses were analyzed using the Choice Experiment Method and Binary Logistic Regression. The analysis results show that milk powder of Australian origin has the highest consumer preference, followed by discount strategy, and preferential strategies have the lowest. Finally, the study made policy recommendations to the government and enterprises.
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