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Journal of the Academy of Marketing Science

, Volume 20, Issue 2, pp 177–187 | Cite as

The evaluation stage in marketing decision making

  • John C. Mowen
  • Gary J. Gaeth
Article

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.

Keywords

Marketing Prospect Theory Fault Tree Evaluation Stage Hindsight Bias 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Academy of Marketing Science 1992

Authors and Affiliations

  • John C. Mowen
    • 1
  • Gary J. Gaeth
    • 2
  1. 1.Oklahoma State UniversityAlvaUSA
  2. 2.University of IowaUSA

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