Skip to main content
Log in

The effect of self-confidence and anxiety on risk reduction strategies for an innovative product

  • Published:
Journal of the Academy of Marketing Science Aims and scope Submit manuscript

Abstract

This research investigated consumer modes of information seeking as a means of reducing uncertainty for a high risk innovation. Measures of consumers' generalized and specific selfcondidence along with anxiety were taken to study their mediating effect on consumer's tendency to seek any of six information sources. Subjects completed a 20 item behavioral differential designed to measure the tendency to seek different sources. The design used was a 2×2×2 ANOVA. The sample was drawn from a middle, upper middle class, white suburban civic club. The results show that specific self-confidence was the most important variable in explaining the tendency to seek information about a microwave oven. The two most favored information sources were the impersonal independent (Consumer Reports type of magazine) and the subject's own observation and experiences. There was some tendency to use interpersonal sources, but the impersonal independent and observation/experience were favored.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

References

  • Andreasen, A. Attitudes and Customer Behavior: A Decision Model. In H. Kassarjian and T. Robertson (Eds.), Perspectives in Consumer Behavior. Glenview, Illinois: Scott, Foresman and Co., 1968.

    Google Scholar 

  • Bauer, R. “Consumer Behavior as Risk Taking.” In R. Hancock (Ed.), Dynamic Marketing for a Changing World, American Marketing Association, 1960.

  • Bell, G. “Self-Confidence and Persuation in Car Buying.” Journal of Marketing Research, 1967, 4, 46–52.

    Article  Google Scholar 

  • Bendig A. “The Development of a Short Form of the Manifest Anxiety Scale.” Journal of Consulting Psychology, 1956, 20, 384.

    Article  Google Scholar 

  • Berning, C. and Jacoby, J. “Patterns of Information Acquisitions in New Product Purchases.” Journal of Consumer Research, 1974, 1, 18–22.

    Article  Google Scholar 

  • Coopersmith, S. “The Antecedents of Self-Esteem.” San Francisco: W. H. Freeman & Co., 1967.

    Google Scholar 

  • Coopersmith, S. “Self-Esteem Inventory.” In Robinson, J. and Shaver, P. (Eds.), Measures of Social Psychological Attitudes, Revised Edition, Ann Arbor: Institute for Social Research, 1970.

    Google Scholar 

  • Cox, D. and Bauer, R. “Self-Confidence and Persuasibility in Women.” Public Opinion Quarterly, 1964, 28, 453–466.

    Article  Google Scholar 

  • Cunningham, S. “The Major Determinants of Perceived Risk.” In D. Cox (Ed.), Risk Taking and Information Handling in Consumer Behavior. Boston: Harvard University Press, 1967.

    Google Scholar 

  • Hansen, F.. Consumer Choice Behavior. New York: The Free Press, 1972.

    Google Scholar 

  • Harvard, J. and Sheth, J. “The Theory of Buyer Behavior.” New York: John Wiley and Sons, Inc. 1969.

    Google Scholar 

  • Hollingshead, A. “Two Factor Index of Social Position.” Unpublished manuscript, 1957.

  • Lambert, Z. “Perceptual Patterns, Information Handling, and Innovativeness. Journal of Marketing Research, 1972, 9, 427–431.

    Article  Google Scholar 

  • Locander, W. and Hermann, P. “The Effect of Self-Confidence and Anxiety on Information Seeding in Consumer Risk Reduction. Manuscript submitted for publication, 1975.

  • Lutz, R. J., and Reilly, P. J. “An Exploration of the Effects of Perceived Social and Performance Risk in Consumer Information Acquisition. In S. Ward and P. Wright (Eds.), Advances in Consumer Research, Vol. 1, Urbana: Association for Consumer Research, 1973.

    Google Scholar 

  • Newman, J. and Staelin, R. “Prepurchase Information Seeking for New Cars and Major Household Appliances.” Journal of Marketing Research, 1972, 9, 249–257. “Recipe for Innovation.” Advertising Age, August 4, 1975, p. 12.

    Article  Google Scholar 

  • Robertson, T. “Innovative Behavior and Communication.” New York: Holt, Rinehart, and Winston, Inc., 1971.

    Google Scholar 

  • Rogers, E. and Shoemaker, R. “Communication of Innovations” New York: The Free Press, 1971.

    Google Scholar 

  • Roselius, T. “Consumer Rankings of Risk Reduction Methods.” Journal of Marketing, 1971, 35, 56–61.

    Article  Google Scholar 

  • Taylor, J. “The Role of Risk in Consumer Behavior.” Journal of Marketing, 1974, 38, 54–60.

    Article  Google Scholar 

  • Taylor, J. A. “A Personality Scale of Manifest Anxiety.” Journal of Abnormal and Social Psychology, 1953, 48, 285–290.

    Article  Google Scholar 

  • Triandis, H. “Exploratory Factor Analyses of the Behavior Component of Social Attitudes.” Journal of Abnormal and Social Psychology, 1964, 68, 420–430.

    Article  Google Scholar 

  • Zikmund, S. and Scott, J. “A Multivariate Analysis of Perceived Risk, Self-Confidence and Information Sources. In S. Ward and P. Wright (Eds.), Advances in Consumer Research, Vol. 1, Urbana: Association for Consumer Research, 1973.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

About this article

Cite this article

Hermann, P., Locander, W.B. The effect of self-confidence and anxiety on risk reduction strategies for an innovative product. JAMS 5, 113–125 (1977). https://doi.org/10.1007/BF02722005

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1007/BF02722005

Keywords

Navigation