Files in this item
Inexperienced decision-makers' use of positive heuristics for marketing decisions
Item metadata
dc.contributor.author | Gilbert-Saad, Antoine | |
dc.contributor.author | McNaughton, Rod B. | |
dc.contributor.author | Siedlok, Frank | |
dc.date.accessioned | 2024-07-24T09:30:19Z | |
dc.date.available | 2024-07-24T09:30:19Z | |
dc.date.issued | 2021-08-17 | |
dc.identifier | 300365160 | |
dc.identifier | 7906f81a-3ff0-4666-9d2a-a62b25812495 | |
dc.identifier | 85106231976 | |
dc.identifier.citation | Gilbert-Saad , A , McNaughton , R B & Siedlok , F 2021 , ' Inexperienced decision-makers' use of positive heuristics for marketing decisions ' , Management Decision , vol. 59 , no. 7 , pp. 1706-1727 . https://doi.org/10.1108/MD-09-2019-1330 | en |
dc.identifier.issn | 0025-1747 | |
dc.identifier.other | ORCID: /0000-0002-9274-8248/work/156133384 | |
dc.identifier.uri | https://hdl.handle.net/10023/30258 | |
dc.description.abstract | Purpose: Research has reliably demonstrated that decision-makers, especially expert ones, use heuristics to make decisions under uncertainty. However, whether decision-makers with little or no experience also do, and if so, how? is unknown. This research addresses this issue in the marketing context by studying how a group of young and generally inexperienced entrepreneurs decide when asked to set a price and choose a distribution channel in a scenario involving a hypothetical firm. Design/methodology/approach: The authors used think-aloud protocols to elicit data and then used inductive procedures to code the data for analysis. Findings: The inexperienced entrepreneurs in the sample used three types of heuristics in their decision-making, forming a structured process that narrows in scope. First, metacognitive heuristics, which specify a decision-making approach, were used, followed by heuristics representing the criteria they considered, and finally, heuristics detailing the execution of a selected option. The authors also found that heuristics relating to a market orientation, especially customer-centric criteria, were the most common, but these were balanced with ones representing an internal orientation or growth. Research limitations/implications: The generally inexperienced decision-makers the authors’ studied used heuristics in a structured way that helped them to select and balance several potentially conflicting decision-making criteria. As with most research using qualitative research designs, the generalizability of these findings is unclear. Further research on the mechanisms by which relatively inexperienced decision-makers learn the heuristics they use is recommended. Originality/value: This research's novelty lies in its focus on heuristic use by nonexpert decision-makers under conditions of uncertainty and the findings about their scope and the order they are used. As the authors collected data from think-aloud protocols with relatively young entrepreneurs with limited experience, they also offer a description of the heuristics used by nascent entrepreneurs when making marketing decisions about pricing and channels. The most surprising conclusion is that even without relevant domain-specific knowledge, decision-makers can use heuristics in an ecologically rational way (i.e. structured to match the environment). | |
dc.format.extent | 22 | |
dc.format.extent | 332706 | |
dc.language.iso | eng | |
dc.relation.ispartof | Management Decision | en |
dc.subject | Decision-making | en |
dc.subject | Entrepreneurs | en |
dc.subject | Heuristics | en |
dc.subject | Inexperienced decision-makers | en |
dc.subject | Marketing | en |
dc.subject | HD61 Risk Management | en |
dc.subject | Business, Management and Accounting(all) | en |
dc.subject | Management Science and Operations Research | en |
dc.subject | AC | en |
dc.subject.lcc | HD61 | en |
dc.title | Inexperienced decision-makers' use of positive heuristics for marketing decisions | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. Management (Business School) | en |
dc.identifier.doi | https://doi.org/10.1108/MD-09-2019-1330 | |
dc.description.status | Peer reviewed | en |
This item appears in the following Collection(s)
Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.