Title: Factors Influencing Consumers' Perceived Risk Of Tobacco Products.

ISPOR 18th Annual European Congress; 7-11 November 2015. Milan, Italy. The tobacco industry is developing candidate modified risk tobacco products (cMRTPs) with the potential to reduce individual risk and population harm in comparison to smoking combustible cigarettes. In 2012, the United States (US) Food and Drug Administration (FDA) released its Draft Guidance on MRTPs requesting applicants to conduct research on consumers’ perceptions of risk of tobacco products (FDA, 2012). Measures of consumers’ perceptions of health risks of MRTPs are being developed to address these requirements. During these measurement design activities, relatively large‐scale cognitive debriefing activities provided a unique opportunity to conduct qualitative inquiry into the conceptual basis on which consumers make their risk evaluations.