Marketing decision-making through computer cartography

This paper presents a comparative analysis of the findings of two field studies and three recent laboratory experiments that assessed the efficacy of judgment based models in aiding marketing decision making. This analysis indicates factors that may affect the effectiveness of these models. The implications of the findings for users of judgment based marketing decision models as well as model builders are discussed, and suggestions are made for future research to improve the models’ effectiveness.

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Book Review: Marketing Decision Making: A Model Building Approach

Journal of Marketing Research ◽

10.1177/002224378402100312 ◽

1984 ◽

Vol 21 (3) ◽

pp. 339-341

Author(s):

Charles B. Weinberg

Keyword(s):

Decision Making ◽

Model Building ◽

Marketing Decision

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Managerial Judgment in Marketing: The Concept of Expertise

Journal of Marketing Research ◽

10.1177/002224378302000202 ◽

1983 ◽

Vol 20 (2) ◽

pp. 110-121 ◽

Cited By ~ 17

Author(s):

Jean-Claude Larréché ◽

Reza Moinpour

Keyword(s):

Decision Making ◽

Delphi Process ◽

Group Consensus ◽

Marketing Decision ◽

Decision Calculus ◽

External Measure ◽

True Values

Judgment-based estimations often are used in marketing decision making and as inputs to decision calculus models. An evaluation of different approaches to integrating individual judgments is performed in the context of a marketing situation where the “true” values being estimated are known. Experts identified by a simple external measure of expertise are found likely to provide better estimates, followed by groups participating in a Delphi process. Experts identified by self-rated confidence and interpersonal group consensus are not found likely to provide better estimates than the average of the initial judgments of the members of a group.

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The Delphi Process in Marketing Decision Making

Journal of Marketing Research ◽

10.1177/002224377100800406 ◽

1971 ◽

Vol 8 (4) ◽

pp. 443-448 ◽

Cited By ~ 23

Author(s):

Marvin A. Jolson ◽

Gerald L. Rossow

Keyword(s):

Decision Making ◽

Field Experiment ◽

Delphi Process ◽

Subjective Probabilities ◽

Marketing Decision

This article describes a field experiment which uses the Delphi Process to assign subjective probabilities to the set of possible demand levels for a company's product. The method is validated by the use of questions to which the “correct” answers are known.

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