MKT 337 Study Guide - Midterm Guide: Marketing Strategy, Frozen Yogurt, Financial Risk
Document Summary
If the consumer always buys the same brand because it satisfies his hunger, then he has a low level of involvement. The types of risks that concern consumers include financial risk, social risk, and psychological risk : financial risk is exposure to loss of wealth or purchasing power. Price and involvement are usually directly related: as price increases, so does the level of involvement. For example, some consumers feel guilty about eating foods that are not healthy, such as regular ice cream rather than fat-free frozen yogurt: social visibility: involvement also increases as the social visibility of a product increases. Products often on social display include clothing (especially designer labels), jewelry, cars, and furniture. All these items make a statement about the purchaser and, therefore, carry a social risk. High involvement means that the consumer cares about a product category or a specific good or service. The product or service is relevant and important, and means something to the buyer.
