Risk Reduction Strategies Employed to Minimise Perceived Risk when Purchasing Beef

摘要

The purpose of this qualitative research was to identify the perceived risks and risk reduction strategies employed by Irish consumers in their selection of beef (a non-durable experience generic good). This research combines elements of risk reduction behaviour and quality seeking behaviour in an attempt to better understand the consumer's decision-making process. Performance, financial and physical risks were identified as the most important perceived risks. The number of reduction strategies employed varied depending on risk type. For performance and financial risk both intrinsic and extrinsic cues were used while for health risk intrinsic cues only were used. Purchase location was an integral part of the decision making process. In satisfying consumers, retailers, processors and producers have displayed an appreciation (intentional or otherwise) of the theory of perceived risk. However, this paper concludes by highlighting low consumer awareness of the quality assurance programmes that have been put in place to allay their concerns. Thus, it appears that consumers do not convert the product and process orientated quality systems along the supply chain into meaningful information cues in their quest to minimise the risk of product failure.