Investigators from Hebrew University of Jerusalem Target Risk Management (Marketing As a Risk Management Mechanism With Applications In Agriculture, Resources, and Food Management)

2019 FEB 27 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators publish new report on Risk Management. According to news reporting originating in Rehovot, Israel, by NewsRx journalists, research stated, “Marketing tools, in addition to their role in persuasion and serving as a bridge between production and consumers, reduce prepurchase risks. This role has received less attention in the literature.”

The news reporters obtained a quote from the research from the Hebrew University of Jerusalem, “This review highlights marketing’s role in reducing consumers’ purchasing risk. We present our approach, backed up with extensive literature review, beginning with a description of advertising, branding, and pricing that may serve as a signal of a product’s quality. We then describe and analyze the role of product demonstrations, free product samples, and money-back guarantees (MBGs), which enable consumers to acquire direct experience before a final decision is made, in reducing risks. We briefly discuss product warranties and their relationship to MBGs.”

According to the news reporters, the research concluded: “We demonstrate how marketing tools can help reduce the risk associated with the consumption of food products that contain genetically modified organisms, as well as help in marketing of agricultural products that vary in their levels of risk to buyers.”

For more information on this research see: Marketing As a Risk Management Mechanism With Applications In Agriculture, Resources, and Food Management. Annual Review of Resource Economics, 2018;10():253-277. Annual Review of Resource Economics can be contacted at: Annual Reviews, 4139 El Camino Way, PO Box 10139, Palo Alto, CA 94303-0897, USA.

Our news correspondents report that additional information may be obtained by contacting A. Heiman, Hebrew University of Jerusalem, Dept. of Environm Econ & Management, Il-7610001 Rehovot, Israel.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1146/annurev-resource-100517-023047. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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