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| Author: | Mowen, J.C. Mowen, M.M. |
| Title: | Time and outcome valuation: implications for marketing decision making. |
| Journal: | Journal of Marketing
1991 : OCT, VOL. 55:4, p. 54-62 |
| Index terms: | DECISION MAKING MARKETING MODELS TIME MARKETING MANAGEMENT MARKETING THEORY |
| Language: | eng |
| Abstract: | Both marketing managers and consumers must make decisions for which the good and bad outcomes may occur at various time in the future. A model of time and outcome valuation (TOV) is developed and shown to expand and complement a variety of marketing models and theories, including exchange models, sales force motivation models, and decision calculus models. The TOV model is derived from six basic assumptions. From the assumptions a series of managerially important decision phenomena are described, including individual traps and fences, speedup costs, delay charge effects, and future optimism. A series of managerial propositions on the impact of the timing of outcomes on marketing decision making is also developed from the TOV model. |
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