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The evaluation stage in marketing decision making

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Abstract

Prior to making important decisions, marketing managers go through an evaluation process in which available alternatives are compared. Yet, no systematic discussion of the evaluation process exists in the marketing literature. This article reviews the marketing and behavioral decision theory literature in order to identify factors that may cause errors in the two fundamental elements of the evaluation process—the estimation of probabilities and the determination of the value of outcomes. Propositions are developed that specify circumstances in which marketing management decisions may be influenced by judgmental biases, and procedures are identified for debiasing such judgments.

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Authors and Affiliations

  1. Oklahoma State University, Alva, USA

    John C. Mowen

  2. University of Iowa, Iowa, USA

    Gary J. Gaeth

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  1. John C. Mowen
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  2. Gary J. Gaeth
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Mowen, J.C., Gaeth, G.J. The evaluation stage in marketing decision making. JAMS 20, 177–187 (1992). https://doi.org/10.1007/BF02723457

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