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Home→The Westburn Dictionary of Marketing→P→perceived risk

perceived risk

Definition:
The element of risk perceived by an intending buyer when faced with a purchase opportunity. As a subjective state it is specific to the individual and may well vary over time according to their changing circumstances. The lower the perceived risk the more likely one is to act positively and vice versa.

Cross-References:
[opportunity cost]

Links:

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].