An Empirical Analysis Of The Impact Of The Factors Of Product To The Consumers' Perceived Risk

The theory of consumer perceived risk is an important part of consumer behavioral science.Some results of researches show that consumers are inclined to reduce perceived risks rather than maximize perceived benefits when they are making purchase decisions.Therefore,the research of perceived risk will be helpful in guiding companies' marketing.Based on literature review related to perceived risk,we found most researchers and scholars focused on the effects of demographic variables and product classes to perceived risks when they concerned perceived risk and the impact of product factors is lacking.This paper analyzed how product factors which include the degree of standardization,the price and the brand familiarity impact the facets of perceived risk.This paper takes notebooks market of college students in Guangzhou as sample. Firstly,we introduce consumer behavioral science,perceived risk theory.Secondly, we analyze empirically the effects of product factors to the facets of perceived risk. Thirdly,we investigate the product factors' impaction to the strategies' which consumers adopt to reduce the level of perceived risk.Through the analysis of theory and substantial evidence,this paper makes some conclusions as follows:(1) Degree of standardization and some facets of perceived risk,including financial,performance,physical,psychological and time risk,are negative correlated, namely higher degree of standardization and fewer financial,performance,physical, psychological and time risks.Price of product and some facets of perceived risk, including financial and physical risks,are positive correlated,in other words,higher price of product will bring more financial and physical risks.Familiarity of brand and some facets of perceived risk,including financial,performance,physical, psychological and time risk,are negative correlated,which means higher familiarity of brand will lessen financial,performance,physical,psychological and time risks.(2) When consumers buy the produce of higher degree of standardization or familiarity of brand,they prefer the strategy of reducing perceived uncertainty to reduce the level of perceived risk.As to product of higher price,consumers prefer strategies of reducing perceived uncertainty and reducing the amount at stake to reduce perceived risk.