The DOI matches its Crossref record; 15 of the 15 references it cites were found in a registry or an index.
Marketing under Uncertainty: The Logic of an Effectual Approach
Abstract
How do people approach marketing in the face of uncertainty, when the product, the market, and the traditional details involved in market research are unknowable ex ante? The authors use protocol analysis to evaluate how 27 expert entrepreneurs approach such a problem compared with 37 managers with little entrepreneurial expertise (all 64 participants are asked to think aloud as they make marketing decisions in exactly the same unpredictable situation). The hypotheses are drawn from literature in cognitive science on (1) expertise in general and (2) entrepreneurial expertise in particular. The results show significant differences in heuristics used by the two groups. While those without entrepreneurial expertise rely primarily on predictive techniques, expert entrepreneurs tend to invert these. In particular, they use an effectual or nonpredictive logic to tackle uncertain market elements and to coconstruct novel markets with committed stakeholders.
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Cites
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Morgan, R. M., & Hunt, S. D. (1994) · Journal of Marketing · doi:10.1177/002224299405800302 · Cited by 22,355
Evolving to a New Dominant Logic for Marketing
Vargo, S. L., & Lusch, R. F. (2004) · Journal of Marketing · doi:10.1509/jmkg.68.1.1.24036 · Cited by 14,779
Developing buyer-seller relationships
Dwyer, F. R., Schurr, P. H., & Oh, S. (1987) · Journal of Marketing · doi:10.1177/002224298705100202 · Cited by 9,139
Service-dominant logic: continuing the evolution
Vargo, S. L., & Lusch, R. F. (2008) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-007-0069-6 · Cited by 7,824
Consumer Culture Theory (CCT): Twenty Years of Research
Arnould, E. J., & Thompson, C. J. (2005) · Journal of Consumer Research · doi:10.1086/426626 · Cited by 3,677
Protocol Analysis: Verbal Reports as Data
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Managing the co-creation of value
Payne, A. F., Storbacka, K., & Frow, P. (2008) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-007-0070-0 · Cited by 3,502
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Bounded rationality and organizational learning
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Return on Marketing: Using Customer Equity to Focus Marketing Strategy
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Cited by
Service Innovation: A Service-Dominant Logic Perspective1
Lusch, R. F., & Nambisan, S. (2015) · MIS Quarterly · doi:10.25300/misq/2015/39.1.07 · Cited by 1,949
Managing Co-creation Design: A Strategic Approach to Innovation
Frow, P., Nenonen, S., Payne, A., & Storbacka, K. (2015) · British Journal of Management · doi:10.1111/1467-8551.12087 · Cited by 518
Ramoglou, S. (2021) · Journal of Business Venturing · doi:10.1016/j.jbusvent.2020.106090 · Cited by 106
Metadata
- Authors
- Read, S., Dew, N., Sarasvathy, S. D., Song, M., & Wiltbank, R.
- Venue
- Journal of Marketing
- Publisher
- SAGE Publications
- Published
- 2009-05
- Volume
- 73
- Issue
- 3
- Pages
- 1-18
- ISSN
- 0022-2429 (ISSN-L)
- 1547-7185
- OpenAlex
- W2015662544
- Cited by
- 588
- References
- 15
- FWCI
- 44.32
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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