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I Like It, They Must Like It, Too : How Managers' Individual Interests Influence Strategic Marketing Decisions
ISBN
978-989-732-004-0
Type
conference paper
Date Issued
2012-05-22
Editor(s)
Paulo, Rita
Abstract
Marketing managers are supposed to be highly sophisticated in predicting consumers' preferences. However, following relevant literature, the authors argue that even marketing managers' anticipations of customers' preferences are affected by projection biases. Extending prior research in this field, this paper attempts to investigate whether relevant market information can overcome projection bias in the context of strategic marketing decisions. Two empirical studies demonstrate that managers' decisions are influenced by projection biases not only in the case of market information absence but also when nonambiguous market information is available. Hence, marketing managers devalue relevant market information if it does not coincide with their individual interest and still project their individual interests on their predicted customers' preferences.
Language
English
Keywords
Strategic Marketing Decision Behavior
Consumer Preferences
Projection
Bias
Bias
HSG Classification
contribution to scientific community
Refereed
Yes
Book title
Marketing to Citizens : Going beyond Customers and Consumers
Publisher
ISCTE Business School
Publisher place
Lisbon
Start page
7
Event Title
41st Annual Conference European Marketing Academy (EMAC)
Event Location
Lisbon, Portugal
Event Date
22.-25.05.2012
Subject(s)
Division(s)
Eprints ID
210521