Question

Share an example of an upcoming product or service purchase you plan to make that you perceive to be high risk, and thus for which your motivation would be high? Why do you anticipate the purchase to be high risk?   minimum 7 sentences

Answer 1

Currently, I am looking to replace my old car with the new sedan so that I can use it for going to my office. This is going to be a high involvement purchase because of the following facts:-

Buying a car will incur a lot of funds and a wrong decision can waste the entre money

Buying car is a purchase which is not taken quite often. Most of the people buy a car after 4-5 years and thus it is a product which requires high involvement

A number of factors have to be considered before taking this purchase decision such as the model of the car, price, fuel efficiency, look and other benefits

If the decision is not taken after thorough research and discussion, the investment can be a bad one and this can result in further costs for example if a car purchases having low fuel efficiency then it will have higher operating cost and thus incur a greater cost to the buyer.

The reliability and durability of a car is also a concern as if it does not fulfill my expectation and creates a lot of issues then the service and maintenance charges will be high which will again be an out of pocket expense.