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PhD, NET(UGC), MBA (Finance), M.com (Finance), B.COM (professional), B.Ed (Commerce + English), DIM, PGDIM, PGDIFM, NIIT Accounting package...

Monday, August 13, 2012

types of perceiver risk

Every purchase decision involves some level of risk. There are several types of risk that can discourageconsumers from either making a choice or delaying the purchase decision. The following are common types of risk:1)
Functional or Performance Risk:
If I buy Product X, will it actually deliver the benefits it promises?2)
Financial Risk:
If I buy Product X, will I lose money? Will I find it does not give the anticipated value for the money? Can I find the same product for a lower price somewhere else?3)
Psychological Risk:
If I buy Product X, will owning it in any way damage my self-image, self-confidenceor ego?4)
Social Risk:
If I buy Product X, will other people think less of me because I made a socially unacceptablechoice?5)
Physiological Risk:
If I buy Product X, is there potential for physical harm because I selected a product of inferior quality, one beyond my ability to use properly or one that is poorly manufactured?6)
Time Risk:
If I buy Product X and it proves inadequate, how much of my time will I have wasted in searchor will my use of the item require more time than I had anticipated or am willing to give?7)
Linked-Decision Risk:
If 1 buy Product X, will this result in additional purchases of other goods or services as a direct result of having selected this item?

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