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- Title
Perceived Risk in Store Selection.
- Authors
Hisrich, Robert D.; Dornoff, Ronald J.; Kernan, Jerome B.
- Abstract
This study focuses on acquisition by attempting to relate perceived risk to retail store selection. It is consistent with Bucklin's [6] product/patronage typology in that it suggests--for certain types of acquisitions--that consumers' concern for product choice in no way lessens the importance of store choice. In fact, in our study store choice seemed to dominate product or brand choice. In many product categories, a consumer handles perceived risk by developing loyalty to a particular brand, assuming a certain amount of brand comprehension and a reasonable purchase frequency. When these conditions are not present, a possible risk-handling strategy is to shift one's focus to the retail store. For our study, we felt that the purchase of carpeting (excluding less-than-room-size rugs), draperies, and furniture qualified as acquisitions for which perceived risk might be relatively high, yet not subject to handling through brand loyalty. These products obviously have a low purchase frequency, and brand recognition and loyalty are exceedingly low.[1] Since "taste" in choosing these products is subtle and somewhat elusive (performance or psychosocial risk is probably high [3, 4, 7]), the retailer perhaps acts as purchase counselor to many consumers. In such cases, store selection becomes relatively critical. This study suggests that, for the kinds of acquisitions considered, it is possible to measure the risk consumers perceive in store selection.
- Subjects
RISK perception; CONSUMER behavior; CONSUMER attitudes; CONSUMER research; RETAIL stores; PURCHASING; MARKETING research; INDUSTRIAL research; RISK management in business; CONSUMER preferences
- Publication
Journal of Marketing Research (JMR), 1972, Vol 9, Issue 4, p435
- ISSN
0022-2437
- Publication type
Article
- DOI
10.2307/3149311