• Title/Summary/Keyword: consumer risk

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A study on the Types of perceived risk in consumer's purchasing public apartment (아파트 구매자가 인지하는 위험유형에 관한 연구 - 전주지역을 중심으로 -)

  • 이종혜
    • Journal of the Korean Home Economics Association
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    • v.23 no.1
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    • pp.49-57
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    • 1985
  • The central problem of purchasing houses is choice, which is accompanied by perception of risk. Perceived risk is defined as a risk perceived by a consumer subjectively in choice situations. The components of perceived risk are uncertainty and consequence. There are seven types of perceived risk in purchasing houses. Those are financial risk, functional risk, social risk, psychological risk, physical risk, time risk and future opportunity lost risk. The empirical survey about comsumer's purchasing Public Apartment suggests : 1) In general, rspondents perceive relatively high risk in purchasig Public Apartment. 2) Of seven risk types, financial, functionalm, future opportunity lost, time, and social risk correlate highest with overall perceived risk and explain the variance of it. 3) Physical and psychological risks don't correlate significantly with overall perceived risk. From the findings in empirical analysis, consumers are recommended to device riskreduction activities in purchasing Public Apartment. 1. Active information search is needed in purchasing Public Apartment in order to reduce overall perceived risk. 2. Housing concept should change from ownership to rental thinking. 3. Consumers should be accustomed to Housing Loans by bank. 4. Purchasing goals should be established clearly before purchasing houses. 5. Careful deliberation is required and informations from personal sources are useful.

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A Study on Characteristic of Consumer and Clothing Purchase Orientations according to Internet Shopping Mall Type (인터넷 쇼핑몰 유형에 따른 소비자 특성 및 의복구매성향에 관한 연구)

  • 박옥련;정유정;이현지
    • Journal of the Korean Society of Clothing and Textiles
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    • v.26 no.2
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    • pp.292-302
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    • 2002
  • The purpose of this study was to research on Characteristic of Consumer and Clothing Purchase Orientations according to Internet Shopping Mall Type. The results were as follows; First, the clothing purchase orientations consisted of 5 dimension; product recondition, consumer service, shopping experience, risk of functional recognition, and of economical recognition. Second, the analysis of items of 5 dimension on clothing purchase orientations according to Internet shopping mall type produced as follows; 1. Product recognition - Variety of products appeared to be important elements and the average of specialized shopping mall was higher than that of general shopping mall. 2. Consumer service - Reliability of product information appeared to be more critical than others and the average of specialized shopping mall was bigger than that of others 3. Shopping experience - The item of convenience over time and space, the hard sell and over-service were found critical elements. Especially convenience over time of Mall of Malls, the convenience a far from hard sell element of department style shopping mall, and convenience over space of specialized mall were higher than that of others. 4. Risk element of functional recognition - No specific distinction appeared according to shopping mall type. 5. Risk element of economical recognition - Mending and additional cost arising from bad choice were found being critical element.

Effects of Benefits and Risk Perception on Purchase Intention for Fur Apparel: A Multiple Mediation Model of Consumer Emotions (모피의류의 편익과 위험 지각이 구매의도에 미치는 영향과 소비자 감정의 다중 매개효과)

  • Lee, Jin-Myong
    • Human Ecology Research
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    • v.55 no.6
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    • pp.609-623
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    • 2017
  • Fur apparel is a representative luxury item that displays wealth and social status; however, it is also recognized as an unethical product criticized for its animal maltreatment in the production process. Understanding consumer responses to an ambivalent object, such as fur apparel, is an important research topic both academically and practically. This study investigates the hierarchical effects of perceived benefits and risks of fur apparel on consumers' emotions and purchase intention by applying the ABC model of attitudes to identify the mediating effects of consumer emotions. An online survey was conducted on 390 female consumers that verified hypotheses through structural equation modeling and bootstrapping analysis using phantom variables. The initial results of the survey showed that the relationship between perceived conspicuous benefits and purchase intention towards fur apparel was partially mediated by positive emotion. Second, the relationship between perceived epistemic benefits and purchase intention was completely mediated by positive emotion. Third, the relationship between perceived ethical risk and purchase intention was completely mediated by positive and negative emotions. Fourth, perceived social risk did not affect the purchase intention of fur apparel significantly. The results support that cognitive beliefs about the subject have a significant positive effect on behavioral intentions through emotions as suggested in the ABC model of the attitude. This study provides an in-depth understanding of consumer responses to ambivalent objects by revealing the individual mediating effects of consumers' positive and negative emotions.

Classification of Product Safety Management Target by RAP and Cluster Analysis for Consumer Safety (소비자안전을 위한 RAP 및 군집분석을 통한 제품안전 관리대상 유형분류 연구)

  • Suh, Jungdae
    • Journal of the Korean Society of Safety
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    • v.33 no.6
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    • pp.128-135
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    • 2018
  • Currently, the government selects products that are likely to cause harm to consumers as safety management targets and classifies them into three types: safety certification, safety confirmation, and supplier conformity verification. In addition, the government conducts safety surveys on products in circulation or accident products, and recalls products that are of great concern to consumer risks. In this paper, we have developed RAP (Risk Assessment method based on Probability), which is a probability based product risk assessment method, for the classification of safety management type of product and safety investigation, and have shown an application example. In this process, information is used for the CISS (Consumer Injury Surveillance System) of the Korean Consumer Agency. In addition, we apply the cluster analysis to classify the current supervised children products into three groups. Then, we confirm the effectiveness of RAP by comparing the result of RAP application, cluster analysis result and current safety management classification type. Also, we recognize the need to review the current safety management classification criteria for classifying products into three types.

The Effect of the Consumer's Perceived Risk on the Level of Information Search (제품유형에 따른 소비자의 구매위험지각이 정보탐색수준에 미치는 영향 - 지식수준의 조절역할을 중심으로 -)

  • Shin, Bong-Sup;Park, Ju-Young
    • Journal of Global Scholars of Marketing Science
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    • v.16 no.3
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    • pp.143-167
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    • 2006
  • Despite the popularity of e-commerce, the understanding of preferred product types for information searches and purchase on the internet are not sufficient. This paper studies the effect of risk perception on information search behavior through online only, offline only, and on-offline together. Specially, this study classifies product types into search goods, experience goods, and credence goods. The study attempts to determine how the relationship between the perceived risk and the information search is influenced by the product knowledge level. The results show that the higher the risk perceptions about experience goods and credence goods, the more the consumer searches information through online and offline together when the consumer's knowledge level is low. When the consumer's knowledge level is high, however, the higher the risk perception regarding search goods, the more the consumer searches information through online only.

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Does CSR moderate the service outcome failures of a hotel?

  • CHOI, Jinkyung
    • Journal of Distribution Science
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    • v.18 no.8
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    • pp.15-22
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    • 2020
  • Purpose: The purpose of this study is to measure the effectiveness of corporate social responsibility and service on consumers' risk perception, which ultimately influences satisfaction. Research design, data, and methodology: This study adopted experimental scenario questionnaires: 2 CSR conditions (with and without CSR) and 2 service outcomes (successful and unsuccessful). Multiple regressions were conducted to examine hypotheses. A total of 217 responses were gathered for research analysis. Results: The results of this study found that the performance risk perception and satisfaction of consumers were affected by both CSR and service. CSR was not found, however, to have a moderating effect on performance risk perception or satisfaction. Additionally, performance risk perception affected consumer satisfaction. Conclusion: The results of this study indicate that consumers respond to the conditions of company's CSR and service outcomes when they stay at hotels. Findings of this study suggest service outcomes and CSR had an effect on performance risk perception and satisfaction, although CSR did not moderate the effect of service outcomes for both performance risk perception or satisfaction. Therefore, providing satisfactory customer service and undertaking CSR activities are critical to achieving consumers' overall satisfaction.

The Effect of Consumer Affinity and Country Image Toward Willingness to Buy

  • Halim, Rizal Edy;Zulkarnain, Elszuary Abrar Uzi
    • Journal of Distribution Science
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    • v.15 no.4
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    • pp.15-23
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    • 2017
  • Purpose - This research aims to determine whether the consumer affinity and ethnocentrism as well as the image of a foreign country (Japanese product as the most popular product in Indonesia) are able to influence behavior related to the perceived risk and willingness to buy foreign products from the affinity country. Research design, data, and methodology - Using survey techniques with 164 respondents, the study uses structural equation model with confirmatory factor analysis (CFA). To ensure the research objective and appropriate respondent, then we select an individual who have interest on Japanese culture & language. The primary and secondary data used in this study. Primary data refers to information collected directly from respondent by questionnaires dissemination while secondary data is provided from well-established literatures. Results - The results show us that the ethnocentrism has dominant affection role compared to affinity in order to influence consumer behavior meanwhile, the product country image has cognition role to evoke consumer desire to consume foreign products. Conclusions - From a theoretical perspective, the study contributes to international marketing literature by refining the conceptualization of the consumer affinity construct and highlighting its multidimensional nature. The consumer affinity research need to enrich in term of the context and the different culture and situation.

The Mediating Role of Perceived Risk in the Relationships Between Enduring Product Involvement and Trust Expectation (지속적 제품관여도와 소비자 요구신뢰수준 간의 영향관계: 인지된 위험의 매개 역할에 대한 실증분석을 중심으로)

  • Hong, Ilyoo B.;Kim, Taeha;Cha, Hoon S.
    • Asia pacific journal of information systems
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    • v.23 no.4
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    • pp.103-128
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    • 2013
  • When a consumer needs a product or service and multiple sellers are available online, the process of selecting a seller to buy online from is complex since the process involves many behavioral dimensions that have to be taken into account. As a part of this selection process, consumers may set minimum trust expectation that can be used to screen out less trustworthy sellers. In the previous research, the level of consumers' trust expectation has been anchored on two important factors: product involvement and perceived risk. Product involvement refers to the extent to which a consumer perceives a specific product important. Thus, the higher product involvement may result in the higher trust expectation in sellers. On the other hand, other related studies found that when consumers perceived a higher level of risk (e.g., credit card fraud risk), they set higher trust expectation as well. While abundant research exists addressing the relationship between product involvement and perceived risk, little attention has been paid to the integrative view of the link between the two constructs and their impacts on the trust expectation. The present paper is a step toward filling this research gap. The purpose of this paper is to understand the process by which a consumer chooses an online merchant by examining the relationships among product involvement, perceived risk, trust expectation, and intention to buy from an e-tailer. We specifically focus on the mediating role of perceived risk in the relationships between enduring product involvement and the trust expectation. That is, we question whether product involvement affects the trust expectation directly without mediation or indirectly mediated by perceived risk. The research model with four hypotheses was initially tested using data gathered from 635 respondents through an online survey method. The structural equation modeling technique with partial least square was used to validate the instrument and the proposed model. The results showed that three out of the four hypotheses formulated were supported. First, we found that the intention to buy from a digital storefront is positively and significantly influenced by the trust expectation, providing support for H4 (trust expectation ${\rightarrow}$ purchase intention). Second, perceived risk was found to be a strong predictor of trust expectation, supporting H2 as well (perceived risk ${\rightarrow}$ trust expectation). Third, we did not find any evidence of direct influence of product involvement, which caused H3 to be rejected (product involvement ${\rightarrow}$ trust expectation). Finally, we found significant positive relationship between product involvement and perceived risk (H1: product involvement ${\rightarrow}$ perceived risk), which suggests that the possibility of complete mediation of perceived risk in the relationship between enduring product involvement and the trust expectation. As a result, we conducted an additional test for the mediation effect by comparing the original model with the revised model without the mediator variable of perceived risk. Indeed, we found that there exists a strong influence of product involvement on the trust expectation (by intentionally eliminating the variable of perceived risk) that was suppressed (i.e., mediated) by the perceived risk in the original model. The Sobel test statistically confirmed the complete mediation effect. Results of this study offer the following key findings. First, enduring product involvement is positively related to perceived risk, implying that the higher a consumer is enduringly involved with a given product, the greater risk he or she is likely to perceive with regards to the online purchase of the product. Second, perceived risk is positively related to trust expectation. A consumer with great risk perceptions concerning the online purchase is likely to buy from a highly trustworthy online merchant, thereby mitigating potential risks. Finally, product involvement was found to have no direct influence on trust expectation, but the relationship between the two constructs was indirect and mediated by the perceived risk. This is perhaps an important theoretical integration of two separate streams of literature on product involvement and perceived risk. The present research also provides useful implications for practitioners as well as academicians. First, one implication for practicing managers in online retail stores is that they should invest in reducing the perceived risk of consumers in order to lower down the trust expectation and thus increasing the consumer's intention to purchase products or services. Second, an academic implication is that perceived risk mediates the relationship between enduring product involvement and trust expectation. Further research is needed to elaborate the theoretical relationships among the constructs under consideration.

The Determinants of Tap Water Consumption Patterns (수돗물 음용행동의 영향변수에 관한 연구)

  • Kim Young-Seen
    • Journal of Families and Better Life
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    • v.24 no.2 s.80
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    • pp.93-106
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    • 2006
  • This study investigated the determinants of Tap Water consumption patterns. Socio-demographic variables(gender, family income, education level, residual area) and consumer attitude knowledge(confidence, knowledge, problem experience, risk perception and aesthetic satisfaction)were included in the analysis. Three hundred fifty-nine teachers were participated in this study. ANOVA(Scheffe test), t-test, regression and logistic regression were conducted. The results of this study are as follows: 1. Tap water was consumed by only 1.7%, boiled water prior to drinking by 37.9%, water filtered by 39.8% and bottled water by 19.0%. 2. Consumer attitude knowledge was affected by socio-demographic variables. That is, aesthetic satisfaction was affected by age, risk perception by gender and educational level, confidence by educational level, knowledge by gender and age, and problem experience by age. 3. Logistic regression analysis indicated that age, confidence and aesthetic satisfaction were the determinants of bottled water or filtered water choice. However, risk perception was not a significant determinant. This suggests alternatives to tap water is related to non-risk, or non-safety factors.

The Impact of Backstage Information on Consumer Responses for Fashion Sharing Economy Service (무대 후면(Backstage) 정보 제공이 패션 공유경제 서비스에 대한 소비자 반응에 미치는 영향)

  • Kim, Taeyoen;Lee, Ha Kyung;Choo, Ho Jung
    • Journal of the Korean Society of Clothing and Textiles
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    • v.45 no.4
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    • pp.612-629
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    • 2021
  • This research started from hypothesizing that people hesitate to use a fashion sharing economy service due to the consumers' concerns or fears about contagion. The study explores how backstage information can affect consumers' responses to this service, especially their perceived risk and transparency. An online experiment was conducted to test the research questions through Amazon MTurk. The data of 351 participants in total were analyzed. The results show that backstage information, presenting hidden information with images of various product journeys, from packaging to return and laundry, had a positive effect on transparency as well as perceived risk. Both transparency and perceived risk positively affected the service's perceived honesty, and honesty also positively affected consumer engagement. Through the findings that providing backstage information had a positive effect on perceived risk, but the risk had a positive effect on perceived honesty, we can expect the reaction to the information itself to possibly be negative. However, consumers can consider the service as honest at least, which opens the possibility of expecting positive consumer attitudes or responses in a market in the near future.