The Handbook of Marketing presents a major retrospective and prospective overview of the field of marketing, and provides a landmark reference at a time when many of the traditional boundaries and domains within the marketing discipline have been subject to change. The Handbook frames, assesses and synthesizes the work in the field and helps to define and shape its current and future development. It includes contributions from leading scholars in the field, and the input of an international and extremely distinguished advisory board of marketing academics. The Handbook of Marketing will be invaluable to advanced undergraduates, graduate students and academics in marketing.

Individual Decision-making

Individual decision-making

What is a Decision?

A decision is the identification of and commitment to a course of action. It may be as simple as choosing one from a fixed set of available options, such as picking a secretary from the three applicants sent by personnel. However, a decision may also be much more complex. Choosing a Director of Market Research may include, inter alia, crafting a job description, assembling a set of candidates, a sequence of decisions that reduce that set, and accountability to others for the chosen individual's performance.

How are the identification and commitment made? We view the commitment as the termination of a process whose overarching goal is the distinguishing of one option as superior in overall value. Thus, first and foremost, ...

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