Page 168 of Consumer Behavior: Buying, Having, and Being identifies five types of perceived risks: monetary, functional, physical, social, and psychological. Think about a purchase that you or your family made in the last month or two. Identify one or more risks associated with that purchase and then analyze how you dealt with it. Did you identify or acknowledge it? Discuss it? Ignore it? Accept or reject it?
Given this knowledge, how should a marketer approach you—as a consumer—regarding the purchase of this type of item? What would you do about perceived risk if you were the product manager for this item?