Ijrcm 1 IJRCM 1 - Vol 8 - 2017 - Issue 03 Art 10

VOLUME NO. 8 (2017), ISSUE NO.
03 (M ARCH) ISSN 0976-2183
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VOLUME NO. 8 (2017), ISSUE NO. 03 (M ARCH) ISSN 0976-2183
CONTENTS
Sr. Page
TITLE & NAME OF THE AUTHOR (S)
No. No.
1. SPECIFICS OF INVESTOR SENTIMENTS: ANALYSIS OF CHINESE MARKET 1
JOHN WEI-SHAN HU & ASKAR KOSHOEV
2. DETERMINANTS OF THE FLOWER PRODUCERS & EXPORTERS PERFORMANCE IN ETHIOPIA 9
DR. GETIE ANDUALEM IMIRU
3. IMPACT OF DEMOGRAPHIC VARIABLES ON QUALITY OF WORK LIFE: AN ANALYSIS ON POLICE 18
PERSONNEL’S OF TAMIL NADU POLICE DEPARTMENT IN TIRUNELVELI CITY
M. NIROSHA KAMALI & DR. SUSAN CHIRAYATH
4. STRATEGIES IMPLEMENTED IN ORGANIZED RETAIL SECTOR 24
RIJWAN AHMED MUSHTAK AHMED SHAIKH & DR. DILIP B. SHINDE
5. EVALUATION OF CUSTOMER RELATIONSHIP MANAGEMENT IN APSRTC: A CASE STUDY OF 28
EMPLOYEES OF GUNTUR DISTRICT
M. V. SUBBA RAO & DR. M. S. NARAYANA
6. A STUDY ON FINANCIAL PERFORMANCE IN MAYURAM CO-OPERATIVE URBAN BANK LTD. WITH 35
SPECIAL REFERENCE TO MAYILADUTHURAI, TAMILNADU
DR. R. SRINIVASAN
7. IMPACT OF PSYCHOSOCIAL FACTORS ON DOCTORS PRESCRIBING BEHAVIOR 38
ANKUSH & DR. DEEPAK KAPUR
8. DIMENSIONS IN GROWTH OF SMALL SCALE INDUSTRIES (MSMEs) IN ODISHA: AN IMPACT OF 43
EMPLOYEES
GOLAKH KUMAR BEHERA, RUDRA PRASANNA MAHAPATRA & SALMAMANI TUDU
9. A STUDY ON KNOWLEDGE, ATTITUDE AND PRACTICE ASSESSMENT ABOUT BIO –MEDICAL WASTE 47
MANAGEMENT AMONG HEALTHCARE PERSONNEL
T UMAMAHESWARA RAO, DR. V. N. SAILAJA & DR. N. BINDU MADHAVI
10. DIFFUSION OF PERCEIVED RISK: A KEY TO SUCCESS 52
DR. RUPINDER SINGH
11. THE ROLE OF BANCASSURANCE IN DIGITAL ERA 54
SREENISH S R & DR. S A SENTHIL KUMAR
12. VALUATION OF HERO MOTOCORP LTD. AND BAJAJ AUTO LTD.: AN ANALYTICAL PERSPECTIVE 57
SURENDER SINGH & DR. SHARMILA DAYAL
13. PRADHAN MANTRI JAN DHAN YOJANA - AN EXPLORATORY STUDY OF BANKS PARTICIPATION IN 61
FINANCIAL INCLUSION IN INDORE DISTRICT
VAISHALI WAIKAR & DR. YAMINI KARMARKAR
14. IMPACT OF BANKING SOFTWARE PRODUCT OF INFOSYS AMONG BANK EMPLOYEES WITH 65
SPECIAL REFERENCE TO CHENNAI
DR. S. SARAVANAN & DR. S. VELAYUTHAM
15. A STUDY OF NON PERFORMING ASSETS IN INDIAN PUBLIC SECTOR BANKS 71
DR. A. C. PRAMILA
16. DEMONETISATION: ANALYSIS OF ITS CURRENT KEY EFFECTS ON THE INDIAN ECONOMY 74
MOHD SAZID
17. A STUDY ON FACTORS AFFECTING BRAND LOYALTY OF FMCG USERS 76
DR. SWAYAMBHU KALYAN MISHRA
18. PORTFOLIO MANAGEMENT: A DECISION MAKING TOOL IN THE HANDS OF INVESTORS 80
SIMRAN SAINI
19. PERFORMANCE EVALUATION OF STATE BANK OF INDIA AND ITS ASSOCIATE BANKS THROUGH 84
CAMEL ANALYSIS
VIJAY KUMAR SHARMA
20. FACTOR AFFECTING QUALITY OF WORK LIFE IN PUBLIC & PRIVATE SECTOR BANKS IN LUCKNOW 92
ISHA GUPTA
REQUEST FOR FEEDBACK & DISCLAIMER 98
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT ii
CHIEF PATRON
PROF. K. K. AGGARWAL
Chairman, Malaviya National Institute of Technology, Jaipur
(An institute of National Importance & fully funded by Ministry of Human Resource Development, Govern-
ment of India)
Chancellor, K. R. Mangalam University, Gurgaon
Chancellor, Lingaya’s University, Faridabad
Founder Vice-Chancellor (1998-2008), Guru Gobind Singh Indraprastha University, Delhi
Ex. Pro Vice-Chancellor, Guru Jambheshwar University, Hisar
FOUNDER PATRON
LATE SH. RAM BHAJAN AGGARWAL
Former State Minister for Home & Tourism, Government of Haryana
Former Vice-President, Dadri Education Society, Charkhi Dadri
Former President, Chinar Syntex Ltd. (Textile Mills), Bhiwani
FORMER CO-ORDINATOR
DR. S. GARG
Faculty, Shree Ram Institute of Business & Management, Urjani
ADVISOR
PROF. S. L. MAHANDRU
Principal (Retd.), Maharaja Agrasen College, Jagadhri
EDITOR
PROF. R. K. SHARMA
Professor & Dean, Bharti Vidyapeeth University Institute of Management & Research, New Delhi
CO-EDITOR
DR. BHAVET
Faculty, Shree Ram Institute of Engineering & Technology, Urjani
EDITORIAL ADVISORY BOARD

DR. CHRISTIAN EHIOBUCHE
Professor of Global Business/Management, Larry L Luing School of Business, Berkeley College, Woodland
Park NJ 07424, USA
DR. JOSÉ G. VARGAS-HERNÁNDEZ
Research Professor, University Center for Economic & Managerial Sciences, University of Guadalajara, Gua-
dalajara, Mexico
PROF. M. N. SHARMA
Chairman, M.B.A., Haryana College of Technology & Management, Kaithal
DR. TEGUH WIDODO
Dean, Faculty of Applied Science, Telkom University, Bandung Technoplex, Jl. Telekomunikasi, Terusan
Buah Batu, Kabupaten Bandung, Indonesia
PROF. M. S. SENAM RAJU
Director A. C. D., School of Management Studies, I.G.N.O.U., New Delhi
DR. KAUP MOHAMED
Dean & Managing Director, London American City College/ICBEST, United Arab Emirates
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT iii
PROF. ANIL K. SAINI
Chairperson (CRC), Guru Gobind Singh I. P. University, Delhi
DR. ARAMIDE OLUFEMI KUNLE
Dean, Department of General Studies, The Polytechnic, Ibadan, Nigeria
DR. S. TABASSUM SULTANA
Principal, Matrusri Institute of P.G. Studies, Hyderabad
DR. MIKE AMUHAYA IRAVO
Principal, Jomo Kenyatta University of Agriculture and Technology (JKUAT), Westlands Campus, Nairobi-
Kenya
DR. NEPOMUCENO TIU
Chief Librarian & Professor, Lyceum of the Philippines University, Laguna, Philippines
DR. ANA ŠTAMBUK
Head of Department in Statistics, Faculty of Economics, University of Rijeka, Rijeka, Croatia
DR. FERIT ÖLÇER
Head of Division of Management & Organization, Department of Business Administration, Faculty of Eco-
nomics & Business Administration Sciences, Mustafa Kemal University, Tayfur Sökmen Campus, Antakya,
Turkey
PROF. SANJIV MITTAL
Professor, University School of Management Studies, Guru Gobind Singh I. P. University, Delhi
DR. SHIB SHANKAR ROY
Professor, Department of Marketing, University of Rajshahi, Rajshahi, Bangladesh
PROF. NAWAB ALI KHAN
Professor, Department of Commerce, Aligarh Muslim University, Aligarh, U.P.
DR. SRINIVAS MADISHETTI
Professor, School of Business, Mzumbe University, Tanzania
PROF. ABHAY BANSAL
Head, Department of I.T., Amity School of Engineering & Technology, Amity University, Noida
DR. KEVIN LOW LOCK TENG
Associate Professor, Deputy Dean, Universiti Tunku Abdul Rahman, Kampar, Perak, Malaysia
DR. OKAN VELI ŞAFAKLI
Associate Professor, European University of Lefke, Lefke, Cyprus
DR. V. SELVAM
Associate Professor, SSL, VIT University, Vellore
DR. BORIS MILOVIC
Associate Professor, Faculty of Sport, Union Nikola Tesla University, Belgrade, Serbia
DR. N. SUNDARAM
Associate Professor, VIT University, Vellore
DR. IQBAL THONSE HAWALDAR
Associate Professor, College of Business Administration, Kingdom University, Bahrain
DR. MOHENDER KUMAR GUPTA
Associate Professor, Government College, Hodal
DR. ALEXANDER MOSESOV
Associate Professor, Kazakh-British Technical University (KBTU), Almaty, Kazakhstan
RODRECK CHIRAU
Associate Professor, Botho University, Francistown, Botswana
DR. PARDEEP AHLAWAT
Associate Professor, Institute of Management Studies & Research, Maharshi Dayanand University, Rohtak
DR. DEEPANJANA VARSHNEY
Associate Professor, Department of Business Administration, King Abdulaziz University, Ministry of Higher
Education, Jeddah, Saudi Arabia
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT iv

BIEMBA MALITI
Associate Professor, The Copperbelt University, Main Campus, Jambo Drive, Riverside, Kitwe, Zambia
DR. KIARASH JAHANPOUR
Research Adviser, Farabi Institute of Higher Education, Mehrshahr, Karaj, Alborz Province, Iran
DR. SAMBHAVNA
Faculty, I.I.T.M., Delhi
YU-BING WANG
Faculty, department of Marketing, Feng Chia University, Taichung, Taiwan
DR. MELAKE TEWOLDE TECLEGHIORGIS
Faculty, College of Business & Economics, Department of Economics, Asmara, Eritrea
DR. SHIVAKUMAR DEENE
Faculty, Dept. of Commerce, School of Business Studies, Central University of Karnataka, Gulbarga
DR. THAMPOE MANAGALESWARAN
Faculty, Vavuniya Campus, University of Jaffna, Sri Lanka
DR. JASVEEN KAUR
Faculty, University Business School, Guru Nanak Dev University, Amritsar
SURAJ GAUDEL
BBA Program Coordinator, LA GRANDEE International College, Simalchaur - 8, Pokhara, Nepal
DR. RAJESH MODI
Faculty, Yanbu Industrial College, Kingdom of Saudi Arabia
FORMER TECHNICAL ADVISOR

AMITA
Faculty, Government M. S., Mohali
FINANCIAL ADVISORS
DICKIN GOYAL
Advocate & Tax Adviser, Panchkula
NEENA
Investment Consultant, Chambaghat, Solan, Himachal Pradesh
LEGAL ADVISORS
JITENDER S. CHAHAL
Advocate, Punjab & Haryana High Court, Chandigarh U.T.
CHANDER BHUSHAN SHARMA
Advocate & Consultant, District Courts, Yamunanagar at Jagadhri
SUPERINTENDENT
SURENDER KUMAR POONIA
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT v

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BOOKS
• Bowersox, Donald J., Closs, David J., (1996), "Logistical Management." Tata McGraw, Hill, New Delhi.
• Hunker, H.L. and A.J. Wright (1963), "Factors of Industrial Location in Ohio" Ohio State University, Nigeria.
CONTRIBUTIONS TO BOOKS
• Sharma T., Kwatra, G. (2008) Effectiveness of Social Advertising: A Study of Selected Campaigns, Corporate Social Responsibility, Edited
by David Crowther & Nicholas Capaldi, Ashgate Research Companion to Corporate Social Responsibility, Chapter 15, pp 287-303.
JOURNAL AND OTHER ARTICLES
• Schemenner, R.W., Huber, J.C. and Cook, R.L. (1987), "Geographic Differences and the Location of New Manufacturing Facilities," Jour-
nal of Urban Economics, Vol. 21, No. 1, pp. 83-104.
CONFERENCE PAPERS
• Garg, Sambhav (2011): "Business Ethics" Paper presented at the Annual International Conference for the All India Management Asso-
ciation, New Delhi, India, 19–23
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• Kumar S. (2011): "Customer Value: A Comparative Study of Rural and Urban Customers," Thesis, Kurukshetra University, Kurukshetra.
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WEBSITES
• Garg, Bhavet (2011): Towards a New Gas Policy, Political Weekly, Viewed on January 01, 2012 http://epw.in/user/viewabstract.jsp
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT viii

DIFFUSION OF PERCEIVED RISK: A KEY TO SUCCESS
DR. RUPINDER SINGH

HEAD
PG DEPARTMENT OF COMMERCE & MANAGEMENT
TRAISHATABDI GGS KHALSA COLLEGE
AMRITSAR
ABSTRACT
In the competitive world perceived risk of the consumers is very important consideration by the organizations. Customers are not brand loyal today because of easy
and bulk availability of different brands. But this availability has made the consumer confused. They feel uncertainty of product’s performance. Such uncertainty,
confusion anxiety is termed as perceived risk. Diffusion of perceived risk of consumer may become the key for success of a company. Company which is able to build
confidence in consumers about its product(s) will establish its brand and once the brand is established the company can reap the benefits. Companies are doing
number of efforts in this regard. The paper in hand considers the types of perceived risks and suggests the way to reduce those to keep the customer intact.
KEYWORDS
perceived risk, financial risk, product risk, time risk, diffusion.
INTRODUCTION
E very one as consumer faces a dilemma of uncertainty at the time of purchase of a product especially when the product is new and costly. The fear, anxiety,
danger etc. associated to the outcome of the product is generally termed as perceived risk. In developing countries, like India, consumers are more con-
servative as they are left with low amount, after their household expenditure, at their disposal. Before making any non-routine purchase they seek opinions,
experiences and suggestions from other who have used the same product. For instance, if a person wants to purchase a mobile phone, LED TV, CAR etc. he will
contact the opinion leaders, reference groups and many others for getting their first-hand experience about the working of the product to be purchased. Perceived
risk by the consumers is a sort of headache for the companies because companies have spent considerable funds on production and promotion of the product.
Companies cannot afford the hesitation of the consumers in this regard. In today’s competitive business environment companies are providing warranties, free
trial facilities, money back guaranties etc. to reduce the perceived risk in the minds of prospective customers.
TYPES OF PERCEIVED RISKS

Following are normally considered as the types of perceived risks:
• Financial risk: Every one before spending feels the discharge of monetary resources. Environment of the prospective consumers measures the degree of
financial risk being perceived by them. For instance, in developed countries where the people are having comfortable source of finances, they perceive less
financial risk. Whereas in underdeveloped or developing countries the people are having low residual income after purchases for households they perceive
high financial risk.
• Functional risk: This is the type of risk which a prospective consumer perceives in relation to the functioning of the product to be purchased. Again a consumer
perceives this type of risk generally with the product which is new in the market. A conservative consumer, even for a low priced product, is always cautious
in purchasing a new product. For instance, a housewife normally does not dare to purchase a newly introduced detergent powder with a fear of harming her
hands until she is convinced by some opinion leaders or reference groups.
• Physical risk: Consumer of any type has a reservation about the potential physical risk involved in the use of a particular product. For instance, unsafe
electrical appliances etc.
• Social risk: When a person feels that by purchasing a particular type of product will reduce his status in society, this type of risk is a social risk. For instance,
a person with high income normally prefers to purchase a costly branded product to keep his status in society even his utility may be fulfilled by a non-
branded local product.
• Time risk: in today’s speedy life, time is considered as an important factor. Everyone needs timely delivery, quick repairs and after sales services. Consumers
prefer the purchase the established products as they fear if the newly introduced product does not fulfill their demand they will have to waste time in
replacement.
• Psychological risk: everybody needs psychological satisfaction from the product. People purchase those products which enhance their psychological satis-
faction. They do not take the risk of purchasing those products which in turn may pose a feeling of guilt. For instance, the instant mix type is not generally
welcomed by housewives in eastern countries as they feel that this will lead to show their less interest towards their wards which otherwise they could have
provided by preparing the product themselves.
SUGGESTIONS TO REDUCE THESE PERCEIVED RISKS

As everyone is confronted with one or all of the above said perceived risks at the time of purchase companies must formulate the strategies so as to encounter
these and make the consumers confident to purchase their product. Following suggestions may be considered in this regard:
• Surety of performance: The Company must create an environment in which the consumer feels that this product will surely perform. The seller should try
to convince the prospective customer by explaining the detailed features of the product. Many companies are now providing free trial offers, free samples,
test drives and similar to create confidence in the minds of consumers.
• Competitive pricing: Companies will gain the confidence of the consumer if they are able to convince the prospects that they are being given product at
competitive price. So the companies may give more warranties than their competitors, free extended warranties, free accessories etc.
• Safe designing: Consumer will purchase the product of those companies which ensures the following of safety standards. Safe designing and safety measures
associated with the product enhance the confidence of consumers in company’s product.
• Socially acceptable products: Company must try its best to make its product socially acceptable. For this companies are getting their products endorsed by
celebrities and respected persons. They may also get the help of opinion leaders.
• Feel good factor: The Company must provide a product which creates image of the consumer in his circle. The product must include such exclusive features
that a consumer feels proud of being owner of that product. This gives psychological satisfaction to the customer. For instance, Maruti’s slogan which con-
siders consumer as king.
• Creative and educating advertisements: The concerns must concentrate on the presentation of creative and educating advertisements. Creative ideas com-
pel the audience to spare time for viewing, reading and/or listening.
• Feedback and settling of grievances in less time: In order to make the consumer satisfied, their value of time be understood. For this the company may
provide pickup and drop services in case of trouble or routine service due. The consumer may be contacted regularly in order to get feedback regarding the
working and grievances of the product and service provided by the dealers so that the timely solution may be provided. If the company takes immediate
INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT 52

action on the complaints or feedbacks of the consumers it will create a good image of the company in the mind of consumers and they will purchase the
other products of company without hesitation rather they will recommend that to others in their circle. This will bind the customers to the company.
CONCLUSION
In today’s global business environment companies are facing number of challenges like speedy technological development, customer’s tastes and preferences,
brand consciousness, quality and durability of products and many more. Because of availability of numerous products consumers are confused which in turn
increases their perceived risk. Once the company is able to make its brand acceptable it can launch any new product easily with lesser perceived risk. No doubt
many a companies are doing efforts, as discussed above, to win the consumer’s confidence still it is a continuous exercise in the era of prevailing cut throat
competition as the competitor is always ready to defeat. So companies must always be ready to implement new strategies, without delay, to diffuse the perceived
risk and to retain and attain the consumers.
REFERENCES
1. Griffin, Jill. Customer Loyalty: How to Earn It, How to Keep It, Jossey-Bass, 2002
2. Olson,Jerry C. , Consumer Behavior and Marketing Strategy. Mc Graw Hill, 1987.
3. Schiffman Leon G., Leslie Lazar Kanuk, Consumer Behavior, Prentice Hall, 2003
4. Tharakan, Kurian M. Social & Psychological Risk – Two Reasons Why Customers May be Afraid of You. https://strategypeak.com/social-psychological-risk/
5. www.acrwebsite.org/search/view-conference-proceedings.aspx?

REQUEST FOR FEEDBACK

Dear Readers
At the very outset, International Journal of Research in Commerce & Management (IJRCM) acknowledges &
appreciates your efforts in showing interest in our present issue under your kind perusal.
I would like to request you to supply your critical comments and suggestions about the material published
in this issue, as well as on the journal as a whole, on our e-mail [email protected] for further improve-
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If you have any queries, please feel free to contact us on our e-mail [email protected].
I am sure that your feedback and deliberations would make future issues better – a result of our joint effort.
Looking forward to an appropriate consideration.
With sincere regards
Thanking you profoundly
Academically yours
Sd/-
Co-ordinator
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VOLUME NO. 8 (2017), ISSUE NO.

03 (M ARCH) ISSN 0976-2183

EDITORIAL ADVISORY BOARD

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Looking forward to an appropriate consideration.

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INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT 54

INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT I

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