Perception of risk in cosmetics and drugs

Abstract

The objective of this study is to analyze risk perception in cosmetics and drugs on the part of consumers and doctors. In the case of consumers, types of perceived losses and risk reduction methods for particular cosmetic products and the extent to which individuals perceived risk in drugs are discussed. Risk perception in prescribing drugs and related topics on drugs and drug choice are investigated as far as the doctors are concerned. Another objective of the study is to analyze any changes which may take place in perception of risk when a middleman functions so as to reduce perceived risk. 1 03 consumers ahd 96 doctors were given structured questionnaires. Paired t-tests, ttests, frequency, and cross-tabulation analyses were conducted by use of SPSS (Statistical Program for Social Sciences) to analyze the hypotheses. The study is both empirical and descriptive, covering the literature review on the concept of perceived risk. Among the major findings, it may be pointed out that people in general perceive risk - mostly uncertainty risk - in buying cosmetic products. Besides, money loss is the most agreed upon type of loss when a cosmetic product turns out to be useless. The least favored risk reduction strategies for the chosen cosmetic products are expensive products and most advertised brands; the most favored are free sample, shopping experience, major brand, and word-of-mouth. Types and levels of risk are analyzed and discussed in case of new/on-the-market, prescribed/non-prescribed drugs when the illness is/is not serious. Doctors, too, perceive different levels of risk in different situations. The most frequently used source of information about a new drug is reported to be the detailman. However, in choosing drugs, meetings and conferences and foreign literature together with Turkish literature are the most frequently referred sources. With respect to the function of a middleman, it is found from this study that, according to the situation the individual is in, risk perception and the need for a middleman change. In the final section of the thesis, implications of the findings for marketers, consumers, drug producers, the state, and researchers are discussed.