Marketer's need to reduce risks in every industry. Whether it is online advertising or service marketing, these 6 perceived risks are always a factor when purchasing or using a service. Depending on which industry, some can be more than others, and some may have a lesser relevant. Marketer's all appreciate the relationship between price, benefits and quality; they all are a measurement of value. Once you identify what the risks are for your product or service, it is a good idea to try and reduce the implications of your risks. Functional Risks Functional risks relate to the performance of the product. Does your product or service deliver what it says it will? Honesty is the best policy! It's not just a saying- it actually will help you retain your customers and increase satisfaction. For example, you are dry cleaning service, even though you might Financial Risk Financial risks are monetary loss. In terms of perception, when you pay more, you expect m...
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