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Risks Perceived by Customers

 

 

 

   

Know what customer concerns and objections
you may have to deal with

 

 

 

 

   

Overcoming objections is a key skill of a salesperson.

What these objections could be?

Ted Roselius in his article "Consumer Ranking of Risk Reduction Methods" suggests that consumers may perceive, both consciously and subconsciously, many different types of risks in buying and consuming a product:

Functional risk: The product does not perform up to expectations.

Physical risk: The product poses a threat to the physical well-being or health of the user or others.

Financial risk: The product is not worth the price paid.

Social risk: The product results in embarrassment from others.

Psychological risk: The product affects the mental well-being of the user.

Time risk: The failure of the product results in an opportunity cost of finding another satisfactory product.

 

 

 

Vadim Kotelnikov

Play InnoBall (Innovation Brainball) entrepreneurial simulation game to reduce and manage these and all other risks successfully!

Vadim Kotelnikov, founder of 1000ventures - personal logo VadiK

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