Solomon (2020) identifies five types of perceived risks monetary, functional, physical, social, and psychological on page 167, in Consumer Behavior Buying, Having, and Being Think about a purchase that you or your family made in the last month or two Answer the following Identify each type of risk associated with that purchase, and then analyze how you dealt with it (even when a risk is not associated with the purchase, explain why not) 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 (hint how would you modify the 4Ps of marketing place, product, price, and promotion)

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Question: Solomon (2020) identifies five types of perceived risks: monetary, functional, physical, social, and psychological on page 167, in Consumer Behavior: Buying, Having, and Being .

Solomon (2020) identifies five types of perceived risks: monetary, functional, physical, social, and psychological on page 167, in Consumer Behavior: Buying, Having, and Being. Think about a purchase that you or your family made in the last month or two. Answer the following:

Identify each type of risk associated with that purchase, and then analyze how you dealt with it (even when a risk is not associated with the purchase, explain why not).
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 (hint: how would you modify the 4Ps of marketing place, product, price, and promotion)?

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