Last June 2009, Mónica Gómez and Ana María Díaz, from INVESTMARK (UAM), together with Mercedes Rozano, presented the paper "Customer Perceptions of Perceived Risk in Generic Drugs: the Spanish Market" at the IAPNM 2009 (Valencia, Spain). This communication was finally awarded "Best Paper of the Conference", hence it was published in the Journal Innovar (former ISI).
The article was selected by the International Scientific Committe of the 8th Congress of the Association of Public and Non-Profit Marketing, which was held in Valencia between June 18th and 19th, 2009, because of the special interest of its topic: the relationship between perceived risk dimensions in the generic drug market.
This topic has not been sufficiently investigated from the scope of marketing, so it becomes of a great interest from both academic and social points of view. After analysing the relevant literature, the current research work thus proposed a model for analysing the mediating role played by psychological risk in influencing other risk factors regarding overall risk. The model was tested via a field study capturing consumer perceptions of risk when buying generic drugs. The results of structural equation modelling indicated that both psychological and physical risk have a positive, direct effect on perceived risk. The results also showed that psychological risk mediated the effects of performance and economic and social risk on overall risk. Public agents involved in developing the generic drug market should thus try to reduce perceptions of risk amongst consumers, placing special emphasis on physical and psychological risk factors. This would increase consumer trust in generic drugs and encourage patients to playing an active role in asking their physicians and pharmacists for these types of drug.
Both Gómez and Rozano are going more deeply into this issue, based upon Rozano's PhD research, and will publish this new article shortly: