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The role of Perceived risk in sustainable consumption contexts - Essay Example
Pages 5 (1255 words)
Name Tutor Subject Date The role of perceived risk in sustainable consumption contexts Introduction Approximately one hundred and fifty million people enter the middle social class each year, and this phenomenon will maintain until 2030 (Blackwell, Miniard and Engel 90)…
Research and development projects have found out that most car demanders have perceived risks about hybrid cars; however, marketing can address the perceived risk barriers to change the attitudes of consumers towards these vehicles. Barriers Associated with Perceived Risk in Decision-making for Hybrid Cars The first barrier associated with perceived risk is lack of warrants. Hybrid companies do not give customers warrants in most cases. This causes lack of guarantee among the customers concerning the functionality of the hybrid cars. Consumers find it difficult to trust hybrid cars because they are not afforded some period of protection should the car fail to meet all dimensions of product quality (Blackwell, Miniard and Engel 101). Sometimes, hybrid car manufacturers offer extremely short period of warrants, which leaves consumers with doubts; customers tend to belief that the reason for this is that these cars could be having short Mean Time To Repair (MTTP) periods. Additionally, hybrid manufacturers fail to avail information concerning earlier purchases that could encourage customers to buy these cars. ...
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