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Open Access
Article
Publication date: 24 March 2021

Ilenia Confente, Ivan Russo, Simone Peinkofer and Robert Frankel

While remanufactured products represent an increasingly researched phenomenon in the literature, not much is known about consumers' understanding and acceptance of such…

2559

Abstract

Purpose

While remanufactured products represent an increasingly researched phenomenon in the literature, not much is known about consumers' understanding and acceptance of such products. This study explores this issue in the context of the theory of perceived risk (TPR), investigating return policy leniency and distribution channel choice as potential factors to foster remanufactured products' sales.

Design/methodology/approach

This research utilizes an experimental design composed of a pre-test and a scenario-based main experiment to explore how return policy leniency might mitigate consumers' perceived risk and how their related purchase intention differs across two types of retail distribution channel structures (i.e. brick-and-mortar vs. online).

Findings

The investigation into the efficacy of return policy leniency within two retail distribution channel settings (i.e. brick-and-mortar vs. online) illustrates that providing a lenient return policy is an effective “cue” in increasing consumer purchase intention for remanufactured products. While prior literature has established that consumers value return policy leniency for new products, the authors provide empirical evidence that this preference also applies to remanufactured products. Notably, that return policy preference holds true in both channel settings (i.e. brick-and-mortar vs. online) under consideration. Additionally, and contrary to the authors’ predictions, consumers perceived remanufactured products sold via both channel settings as equally risky, thus highlighting that both are appropriate distribution channels for remanufactured products. Finally, while research on new products provides some initial guidance on consumer perceptions of quality and risk, the study provides empirical evidence into the difference of perceived risk with regard to new versus remanufactured products.

Originality/value

By employing the TPR, this research explored the role played by two supply chain management related factors (returns policy and channel structure) in reducing consumer's perceived risk and increasing purchase intention. In doing so, this study answers the call for more consumer-based supply chain management research in a controlled experimental research setting.

Details

International Journal of Physical Distribution & Logistics Management, vol. 51 no. 4
Type: Research Article
ISSN: 0960-0035

Keywords

Article
Publication date: 16 August 2013

Kavita Srivastava and Narendra K. Sharma

The present study aims to investigate the impact of perceived quality, brand extension incongruity, involvement and perceived risk on consumer attitude towards brand…

3199

Abstract

Purpose

The present study aims to investigate the impact of perceived quality, brand extension incongruity, involvement and perceived risk on consumer attitude towards brand extension across three product types, namely, FMCG, durable goods and service (FDS) sectors. More importantly, the study seeks to explore the importance of involvement profile comprising relevance, pleasure, sign‐value, risk importance and risk probability and perceived risk facets (financial, psychological and performance) in acceptance of brand extension across FDS.

Design/methodology/approach

Three questionnaire‐based surveys were conducted to collect the data for FMCG, durable and service brand extensions. Regression analyses and Chow test were computed to investigate differences in consumer evaluation across FDS.

Findings

Results revealed significant different effects of variables across the three product types. The impact of perceived quality was greater in the case of services than FMCG and durables. On the other hand, perceived risk and involvement had stronger influence on evaluation of durables and service than FMCG brand extensions.

Research limitations/implications

The present study gives a comprehensive view of how consumers evaluate the service and non‐service brand extensions.

Originality/value

The major contributions of this study are: generalization of the findings related to brand extension incongruity in the service area; examination of the multidimensional role of involvement in terms of relevance, pleasure, sign value, risk importance and risk probability in brand extension context across FMCG, durables and service product types; and exploration of the role of risk facets, namely, financial, performance and psychological in determining consumers' attitude towards brand extension.

Details

Journal of Indian Business Research, vol. 5 no. 3
Type: Research Article
ISSN: 1755-4195

Keywords

Article
Publication date: 19 October 2018

Sujit Kumar Ray and Sangeeta Sahney

The purpose of this paper is to examine how the various perceived risk facets such as financial risk, performance risk, psychological risk, social risk, and physical risk

Abstract

Purpose

The purpose of this paper is to examine how the various perceived risk facets such as financial risk, performance risk, psychological risk, social risk, and physical risk influence the Indian consumers’ perceived overall risk during the purchase of green products such as energy-efficient LED light bulbs.

Design/methodology/approach

A self-administered questionnaire comprising a total of 29 items was employed over a sample of 272 respondents. The structural equation modeling using partial least squares was used for data analysis.

Findings

Psychological risk emerged as the most influential of the various risk facets in affecting perceived overall risk. Financial, physical, and performance risks emerged as the second, third, and fourth most influential risk facets, respectively, which affect the perceived overall risk. Surprisingly, social risk did not emerge as an influential facet when it comes to affecting perceived overall risk. Further, psychological and financial risks appeared to have a positive medium-level influence on the perceived overall risk, whereas physical and performance risks appeared to have a positive weak influence on the perceived overall risks. The influence of financial risk on the perceived overall risk was found to be partially mediated by performance risk.

Originality/value

The study is unique in the sense that it reflects the risk perception of potential consumers in one of the largest emerging markets of the world, when it comes to purchase of green products.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 30 no. 4
Type: Research Article
ISSN: 1355-5855

Keywords

Open Access
Article
Publication date: 25 May 2020

Sri Rahayu Hijrah Hati, Sigit Sulistiyo Wibowo and Anya Safira

The purpose of this study is to examine the impacts of product knowledge, perceived quality, perceived risk and perceived value on customers’ intention to invest in…

4416

Abstract

Purpose

The purpose of this study is to examine the impacts of product knowledge, perceived quality, perceived risk and perceived value on customers’ intention to invest in Islamic Banks. This study specifically examines an Islamic bank’s term deposits.

Design/methodology/approach

Structural equation modeling was used to analyze the data collected from 217 customers of an Islamic bank in Indonesia using an online survey.

Findings

This study highlights the central and dual roles of perceived risk as both the independent and the intervening variable that mediates the relationship between product knowledge and Muslim customer intention to invest in an Islamic bank’s term deposits.

Research limitations/implications

This study only investigates term deposits as one type of investment in Islamic banks. This study contributes to the literature by examining the role of product knowledge, perceived quality, perceived risk and perceived value on Muslim customer intention to invest in Islamic term deposits.

Practical implications

The results of this study highlight the requirement for Islamic banks to educate customers to improve the depositors’ product knowledge because Muslim customers’ risk and value perception and intention are strongly influenced by product knowledge.

Originality/value

The investigation of perceived risk is particularly relevant for Islamic financial products because of the inherent nature of risk sharing in Islamic finance. This study investigates the role of product knowledge in influencing the Muslim customers’ perception of risk, quality, value and their intention to invest in Islamic bank term deposits. Ideally, the profit loss sharing concept (PLS) should be applied; however, in this context, revenue sharing is applied because of Indonesia’s central bank regulation.

Details

Journal of Islamic Marketing, vol. 12 no. 7
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 18 July 2019

Khaled Aboulnasr and Gina A. Tran

The purpose of this paper is to investigate the role of emotional brand attachment in consumers’ evaluation of new products that represent technological innovation.

1909

Abstract

Purpose

The purpose of this paper is to investigate the role of emotional brand attachment in consumers’ evaluation of new products that represent technological innovation.

Design/methodology/approach

A quantitative study was conducted using survey data from a nationally representative probability sample of US consumers (n = 624) to understand the role of emotional brand attachment in the context of consumers’ evaluation of really new products (RNPs). A framework was developed and tested using structural equation modeling that included emotional brand attachment, brand trust, product incongruity, product familiarity, perceived risk, willingness to try, product evaluation and word-of-mouth intentions.

Findings

The results support the role of emotional brand attachment in the diffusion of RNPs. Specifically, results indicated that increased brand attachment reduces consumers’ perceived risk associated with a RNP and increases brand trust. Both constructs played a key role in shaping willingness to try the innovation, word-of-mouth intentions and product evaluation. Findings of this paper add explanatory power to demand-prediction models that more accurately describe the mechanism of the innovation adoption process. For marketing managers, the results emphasize the importance of consumer–brand emotional connections.

Research limitations/implications

The paper used a cross-sectional design; it would be interesting to use a longitudinal design to examine if the role of emotional brand attachment changes over time and how the changes might impact consumers’ perceptions and behaviors in the context of RNPs.

Originality/value

This is the first paper to explore the role of emotional brand attachment in the context of RNPs and consumers’ potential behavioral outcomes.

Details

Journal of Product & Brand Management, vol. 29 no. 1
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 8 May 2017

Zhe Zhang and Yuansi Hou

The purpose of the study is to explore the effects of two dimensions of perceived risk (functional and emotional risk) on two types of consumer information search (ongoing…

2266

Abstract

Purpose

The purpose of the study is to explore the effects of two dimensions of perceived risk (functional and emotional risk) on two types of consumer information search (ongoing and pre-purchase search) in the context of innovative products and services and examine the moderating effect of innate consumer innovativeness.

Design/methodology/approach

The findings in this study are generated with a quantitative design using a multiple linear regression model and a residual centering method on data-collected survey responses related to tablet PC adoption in an online community and laboratory experiment on online bike-renting services.

Findings

The results show that functional and emotional risks influence on-going and pre-purchase search differently in innovative products and services context. On the one hand, functional risk affects on-going search negatively, whereas emotional risk affects on-going search positively; on the other hand, the effect of functional risk on pre-purchase search is not significant, and the effect of emotional risk on pre-purchase search is positive. Furthermore, these relationships are moderated by innate consumer innovativeness. For on-going search, consumer innovativeness moderates the negative effect of functional risk negatively and moderates the positive effect of emotional risk positively; for pre-purchase search, consumer innovativeness moderates the positive effect of emotional risk negatively on pre-purchase search.

Originality/value

Unlike established products and services, innovative products and services possess some elements that are unfamiliar to consumers. Companies typically pre-release innovative products and services long before officially launching them in the market, enabling consumers to assess potential risks and seek information in advance, thereby priming the market. Since innovative products and services are becoming more ubiquitous, research on the impact of perceived risk on information search is crucial for marketers. The present work is designed to be the first to consider the effects of two dimensions of perceived risk (functional and emotional risk) on two types of consumer information search (ongoing and pre-purchase search) and the moderating effect of innate consumer innovativeness. The present research is, therefore, intended to make contributions to the literature on perceived risk, information search and innovation management.

Details

Journal of Consumer Marketing, vol. 34 no. 3
Type: Research Article
ISSN: 0736-3761

Keywords

Article
Publication date: 23 March 2012

Yu‐Shan Chen and Ching‐Hsun Chang

The purpose of this study is to develop an original framework to explore the influences of green perceived value and green perceived risk on green purchase intentions and…

28043

Abstract

Purpose

The purpose of this study is to develop an original framework to explore the influences of green perceived value and green perceived risk on green purchase intentions and to discuss the mediation role of green trust.

Design/methodology/approach

This study applies four original concepts – green perceived value, green perceived risk, green trust, and green purchase intentions – to develop an integral model to enhance green purchase intentions. In addition, this research employs an empirical study by means of the questionnaire survey method to verify the hypotheses and to explore its managerial implications. Structural equation modeling (SEM) is applied to verify the research framework.

Findings

The empirical results show that green perceived value would positively affect green trust and green purchase intentions, while green perceived risk would negatively influence both of them. Furthermore, this study demonstrates that the relationships between green purchase intentions and their two antecedents – green perceived value and green perceived risk – are partially mediated by green trust. Hence, investing resources to increase green perceived value and to decrease green perceived risk is helpful to enhance green trust and green purchase intentions.

Originality/value

This study summarizes the literature on green marketing and relationship marketing into a new managerial framework of green purchase intentions. It utilizes four novel constructs – green perceived value, green perceived risk, green trust, and green purchase intentions – to develop an original research framework to enhance green purchase intentions. Although past research has highlighted the relevant issues about purchase intentions, none explores it about green management. Therefore, this paper develops the research framework of green purchase intentions to fill the research gap.

Details

Management Decision, vol. 50 no. 3
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 1 May 1993

V‐W. Mitchell and G.S. Prince

Since consumers are being provided with ever‐increasing amounts ofinformation, there is an increasing need to study the way in which theyhandle purchasing information…

Abstract

Since consumers are being provided with ever‐increasing amounts of information, there is an increasing need to study the way in which they handle purchasing information. Investigates the effect of buy‐frequency on one theory of consumer decision making: Perceived Risk Theory. Survey data from 100 consumers revealed that in general perceived risk decreased as buy‐frequency increased, but only for high‐value products and services and not as much as expected. High‐value services showed considerably less risk decrease as buy‐frequency increased than did high‐value products, possibly due to their heterogeneity. Experienced purchasers place more emphasis on pre‐purchase product trial and purchasing well‐known brands for high‐value goods and store image and brand loyalty for low‐value goods, than inexperienced purchasers. Discusses the implications for perceived risk measurement as well as retailing.

Details

International Journal of Retail & Distribution Management, vol. 21 no. 5
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 30 October 2009

Dipayan Biswas and Bidisha Burman

The purpose of this paper is to examine how a product‐related variable like digitalization and a market‐related variable like price dispersion might differentially…

3095

Abstract

Purpose

The purpose of this paper is to examine how a product‐related variable like digitalization and a market‐related variable like price dispersion might differentially influence consumer search intentions across offline versus online shopping interfaces, and how this relationship might be mediated by consumers' perceived risks. Prior research findings are extended and examines how the perceived risk – search intention relationship might be different in online contexts. The distinction is drawn between perceived performance risk versus perceived transaction risk and examines how each of these risks would differentially influence search intentions across the two shopping interfaces (offline versus online).

Design/methodology/approach

Two experimental studies are conducted.

Findings

Study 1 shows that under conditions when perceived performance risks are enhanced, such as for non‐digitalized (versus digitalized) products, consumers' search intentions are enhanced, with the effects getting magnified in online shopping interfaces. In Study 2, the effects of a condition are examined when instead of performance risks, transaction risks are enhanced by a market‐related variable – price dispersion. The results of Study 2 show that when there is higher price dispersion in the marketplace, in the offline environment, participants have higher search intentions, while in the online environment, participants have lower search intentions. In addition, the effects of price dispersion on search intention in the online environment are mediated by perceived transaction risk.

Originality/value

Limitations of the studies suggest that future research may extend these findings to include non‐student samples, differential search costs, customer‐related factors like trust and involvement, other types of risks like social and psychological, social networking sites, and multichannel search behaviors.

Details

Journal of Product & Brand Management, vol. 18 no. 7
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 1 February 2013

Yu‐Shan Chen and Ching‐Hsun Chang

This study aims to combine the literature on green marketing and relationship marketing into a new managerial framework of green trust. In addition, this study seeks to…

10196

Abstract

Purpose

This study aims to combine the literature on green marketing and relationship marketing into a new managerial framework of green trust. In addition, this study seeks to elaborate the relationships among green perceived quality, green perceived risk, green satisfaction, and green trust.

Design/methodology/approach

The research object of this paper focuses on Taiwan's consumers who have the purchase experience of information and electronics products. This study undertakes an empirical study by means of the questionnaire survey method. The questionnaires were randomly mailed to consumers who had the purchase experience of information and electronics products. Structural equation modeling (SEM) is applied to test the research framework.

Findings

The empirical results indicate that green perceived quality would positively affect green satisfaction and green trust, whereas green perceived risk would negatively influence both of them. In addition, this study points out that the relationships between green trust and its two antecedents – green perceived quality and green perceived risk – are partially mediated by green satisfaction. Hence, investing resources in the increase of green perceived quality and the decrease of green perceived risk is useful to enhance green satisfaction and green trust.

Originality/value

Although previous research has explored the relevant issues about trust, none highlights trust about green or environmental issues from the perspectives of perceived quality and perceived risk. This study proposes a research framework, which can help companies enhance their green trust via its three determinants: green perceived quality, green perceived risk, and green satisfaction.

Details

Management Decision, vol. 51 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

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