This Activity is comprised of three (3) parts. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your response and document in a bibliography using APA style. (A 3-page response is required for the combination of Parts A, B, and C.)
Your task is to analyze the perceived risk associated with a decision. Imagine that you are considering the purchase of a recreational vehicle (RV). RV purchases are at an all-time high, despite rising gas prices, because RV vacations provide great flexibility and eliminate the need for hotel rooms. RVs range in price from just a few thousand dollars to as much as $400,000. In fact, there are even RVs that are customized for a million dollars! Of course, these super-luxury RVs include benefits such as built-in saunas, granite floors, and other unique components.
Part A. Conduct Internet research to find three (3) RV options that are available and the associated costs involved. Use this research in assessing your risk. Discuss your findings and state the amount of money you would consider spending on your RV. A minimum of two (2) Internet sources is required.
Part B. In the introduction to your risk analysis, be sure to explain the price point on which you will focus and why you chose the product attributes that you want to acquire.
Part C. After you have introduced your specific situation relative to an RV purchase, assess the extent of risk associated with this purchase. Your assessment must include the five (5) forms of risk listed below.
1. Monetary Risk
2. Functional Risk
3. Physical Risk
4. Social Risk
5. Psychological Risk
Reference: Solomon, M. (2013).Consumer behavior: Buying, having, and being (9th ed.). Upper Saddle River, NJ: Prentice-Hall.