This study aimed to figure out buying decision factory of
OTC(over-the-counter) drugs which consumers are non-experts and to
propose useful data in establishing marketing strategies for OTC drugs by
empirically explaining buying behaviors. Specially, the empirical analysis on
the effect of risk reduction behavior on perceived risk in OTC drugs
purchasing process was performed. In addition, The present study examined
moderating effect of self-regulatory on the relationships between perceived
risk and risk reduction behavior.
The present study''s research is performed on OTC drugs except ethical
drug. There are many kinds of OTCs but, in the present study, the study
subjects are limited to pain killer, cold medicine, pain relief patch, nutritional
supplements, mouth freshener, lip care and repelling mosquitoes. Determinantsfor perceived risk and risk reduction behavior were selected from the
determinants which were used in previous study; perceived risk is financial
risk, time risk, psychological risk, and OTCs consumer'' risk reduction
behavior is brand loyalty, information search, store loyalty.
To verify the present research problem, survey was performed to
consumers who the purchased OTC drugs before in Jeju and data were
collected from total 382 subjects. SPSS 18.0 was used for data analysis based
on the collected.
Research model of this study was proved to be acceptable through
significant findings from the study are as follows;
First, human service(trust of pharmacist, medication counseling) showed the
highest effect of determinants for purchasing OTC drugs. And the store
loyalty, purchase experience of OTC drugs and word-of-mouth, product
factors come next in order of significance.
Second, if you feel the financial risk in purchasing OTC drugs, consumer
had choose product factors and store brand, and if you feel the performance
risk, had choose human service and purchase experience of OTC drugs and
word-of-mouth, and if you feel the time risk and psychological risk,
consumer had choose product factors, human service, and store brand.
Third, risk reduction behaviors such as information search, brand loyalty,
store loyalty was found to be significant when consumers perceived
performance risk.
Fourth, according to the results of the study on moderating effect of
self-regulatory focus, moderating effect self-regulatory focus was found to be
significant in the relationships between perceived risk and risk reduction
behavior. Individuals with a promotion focus strongly the financial risk,
performance risk, time risk, psychological risk about risk reduction behavior
than individual with a prevention focus.
Therefore, the present study shows how consumers perceived the OTCdrugs purchasing process, how much they perceived risk, risk reduction
behaviors which consumers preferred, and the relationship between perceived
risk and risk reduction behavior are significant in moderating effect according
to the level of self-regulatory focus. Based on the results of the present
study, various academic and practical implications are proposed.