Success of a product in the marketplace is widely determined by its superior sensory attributes and price. Standardization of sensory attributes and elicitation of consumer willingness to pay (WTP) are the key steps in the product development and marketing strategies formulation. This study evaluates the aptness of the sensory attributes and their influence on WTP for five convenient (ready-to-cook) catfish products . A total of 121 catfish consumers from Arkansas participated in the sensory evaluations of five products and elicited their WTP through Vickrey's s econd price experimental auctions. Using Elastic Net Regularized Regression, a machine learning approach, measured the role of the sensory characteristics on WTP for catfish products. P articipants preferred Panko Breaded Delacata Fillet (PBDF) most followed by Panko Breaded Standard Strips (PBSS), Panko Breaded Standard Fillet (PBSF), Sriracha Marinade Delacata Fillet (SMDF) and Sesame-Ginger Marinade Delacata Fillet (SGMDF). Average WTP was highest for PBDF ($3.46 per packet) followed by PBSF ($2.85), PBSS ($2.84), SGMDF ($2.78), and SMDCF ($2.67). Consumers liked smell, taste and texture of all five products , but they opined that s altiness was higher for all products; crispiness was lower for PBDF, PBSS and PBSF; juiciness was lower for PBSF, SMDF and SGMDF, and oiliness was lower for SMDF. The overall liking was the most important factor affecting the consumer WTP for all products. Pruned regression tree analysis showed taste, in-mouth texture, saltiness and juiciness are significant sensory attributes affecting WTP. It may be concluded that sensory attributes determine the consumers WTP for convenient catfish products.
Keyword: Ready-to-cook convenient product, sensory attributes, WTP