Important Notice: This Event has been canceled due to anticipated impacts from Hurricane Helene.
Each semester, the UF/IFAS Food and Resource Economics Department curates a dynamic seminar series featuring leading agricultural and applied economics scholars. These seminars are designed to inform, engage, and inspire our colleagues at the University of Florida.
We are excited to announce that our next seminar of the semester will take place on Friday, September 27, 2024, at 10:30 a.m. EST and will feature Dr. Lonnie Hobbs, Jr, Assistant Professor of Agricultural Economics at Kansas State University (KSU).
These seminars are open to all interested in attending, in person or on online via Zoom.
Event Details
When: Friday, September 27, 2024 at 10:30 a.m. EST
Where: McCarty Hall A 1151 or attend online via Zoom
Presentation Title: Pet Obesity Causes and Product Differentiation Opportunities in the Pet Food Industry
Abstract: Growth in pet obesity levels and demand for health and wellness focused pet food creates opportunities for pet food companies to capitalize on the rising profit potential through product differentiation. Lessons from the human food industry indicate that weight management segment of the market tends to grow fast and is characterized by high product differentiation and premiumization. Despite the recent rise in pet health and obesity studies, literature translating findings to actionable management and marketing insights in the pet food context is significantly underdeveloped. This paper bridges the agribusiness management and pet food economics literature by generating insights for informing product innovation, design, and marketing strategies of pet food companies aimed at promoting healthy weight in pets. Econometric analysis of cross-sectional data from a survey of 1,173 dog owners suggests that opportunities exist for potential pet food differentiation through physical changes, perceptual changes, and associated service changes in the pet food market related to handling pet obesity. Findings highlight the potential of low-calorie and breed-specific product formulation, pre-package product design, and consumer education through conventional and digital media. The management implications and actionable insights are discussed to inform product development and marketing strategies in the context of the fast-growing pet food market.
About the Speaker: Dr. Lonnie Hobbs, Jr., is an Assistant Professor in the Department of Agricultural Economics at Kansas State University. Originally from Clarksville, TX, Lonnie has a diverse teaching, research, and community involvement background. He serves as the primary instructor for the Commodity Futures course (AGEC 420) and Food and Agribusiness Marketing course (AGEC 515). Lonnie also has extensive experience as a co-instructor for the Human Culture and Diversity course (GENAG 210). In his research, Lonnie specializes in agribusiness, marketing, pet food economics, teaching and learning, and diversity, equity, inclusion, and belonging (DEIB). His research specifically focuses on analyzing current marketing strategies, customer behavior, and product demand to inform product differentiation and marketing decisions in the food and agriculture industry, and particularly the pet food sector. Beyond his teaching and research responsibilities, Lonnie is a co-advisor for Kansas State’s Minorities in Agriculture Natural Resources and Related Sciences (MANRRS) local chapter. He actively supports and mentor students, fostering a diverse and inclusive community within the field. Lonnie’s educational background includes a Bachelor of Science Degree in Agribusiness from Prairie View A&M University (PVAMU), as well as a Master of Science and Ph.D. in Agricultural Economics from Kansas State University.
For more information and Zoom link, visit our website at https://fred.ifas.ufl.edu/seminar-series/ or email Dr. Di Fang, seminar coordinator at difang@ufl.edu
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