Perceived risk is another measure of the likelihood of a consumer trying new brands or products.

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Perceived risk is a widely studied concept in consumer behavior and refers to the uncertainty or anxiety a consumer feels about a purchase decision. This can include concerns about the quality, safety, or effectiveness of a product or the risk of wasting money or time. Higher perceived risk can discourage consumers from trying new products or brands, while lower perceived risk can make consumers more willing to take a chance on something new.

Perceived Risk Is Another Measure of the Likelihood of a Consumer