Joe Urbany

Joe Urbany
University of Notre Dame | ND · Department of Marketing

About

43
Publications
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3,161
Citations

Publications

Publications (43)
Technical Report
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This paper summarizes observations from several hundred growth strategy projects in which executives predict the value that they believe customers seek and then interview customers to learn the truth. It turns out, the truth often hurts – customers’ views differ in systematic ways from executives.’ Rather than indicating a lack of caring or concern...
Article
This study describes a content analysis of 1,415 magazine advertisements. Magazine advertisements were analyzed in terms of their structural characteristics (framed vs. unframed), content features (characterized vs. noncharacterized), and type of advertised product (search vs. experience goods). The results reveal that (1) framed ads are almost alw...
Article
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Game theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game theoretic models. We believe that a focus on three core findings w...
Article
Full-text available
Game-theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game-theoretic models. We believe that a focus on three core findings w...
Article
Much lip service is given today to "values-based decision making," with the implication that the underlying values are "good" values, occupying high moral ground. But the fact is that all decisions - whether highly ethical, grossly unethical or anywhere in between - are values-based. That is, a decision necessarily involves an implicit or explicit...
Article
There are ongoing questions in the literature and in the field about why, in spite of voter dislike, negative advertising continues to get widespread usage in politics. In a field experiment that assessed responses to actual ads shortly before the 2004 U.S. presidential election, we found that negative advertising produced more critical responses t...
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Nearly every decision a person makes is restricted in some way. While we are painfully aware of some of these restrictions, others go largely undetected. This paper presents a conceptual framework for understanding how restrictions interact with situational and individual characteristics, as well as goals to influence behavior. Implications for ove...
Article
Full-text available
In mixed price bundling, the consumer has the choice of buying the individual products separately, as part of a bundle with a discounted price, or not purchasing them at all. Framing effects refer to how the price of the bundle is presented to the consumer. Past studies have focused on perceptual measures and aggregate level results, and have only...
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The adoption of codes of ethics or values statements is intended to guide everyday decisions, as well as to influence the perceptions of external stakeholders. Questions have emerged in the literature about whether the effort to substantively direct decision-making in an organization is marginalized by the more obvious symbolic role of values state...
Article
This research considers whether new, unknown brands may be able to signal high quality to consumers via an advertising spending signal. Signaling theory suggests that heavy advertising spending for an unknown brand may be ineffective in signaling quality because the brand has no reputation at stake. More recent theorizing, however, holds that adver...
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Full-text available
Much of the empirical research on competitive reactions describes how or why rivals react to a firm's past actions, but stops short of examining whether managers attempt to such reactions, which we call strategic competitive reasoning. In three exploratory studies, we find evidence of managers' thinking about competitors' past and future behavior,...
Article
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Although prescriptive models of strategic decision-making abound, little is known about how managers actually reason about competitors when they make decisions. Recent empirical research describes how/why rivals react to a firm’s past actions, but stops short of examining whether managers attempt to predict such reactions. We suggest that when mana...
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Economic theory depicts a price-setter who is cognizant of both the incremental profit implications of changing price and likely competitive reactions. Marketplace observations suggest otherwise; several studies and anecdotal evidence find a tendency for pricing to be driven by cost and market share rather than marginal profit. Further, recent evid...
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Past research of the accuracy of retail grocers’ beliefs about consumer search and patronage behavior has found that executives tend to overestimate the size of the consumer segment that regularly switches stores for price specials. With surveys of consumers and executives in a large midwestern market, we extend and replicate the earlier research....
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Full-text available
The intensity of price discounting by retailers and manufacturers raises important questions about consumer price judgments. In the extreme, discounting can take the form of frequent but shallow discounts or deep but infrequent discounts. The research reported here explores the effects of these strategies on consumer estimation of price levels for...
Article
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to maximize shareholder wealth. However, managers often do not explicitly pursue the maximization of profits (Mueller 1992). Instead, they frequently make decisions so as to perform well relative to their competitors, which we refer to as having competitor-oriented objectives. Managers might choose not to focus on maximizing future profits, because...
Article
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We review recent literature on competitive reactions and strategic thinking and offer several observations. Evidence is mounting that strategic thinking is an unnatural act, made difficult by natural individual biases and organizational roadblocks. In addition, it is possible that uncertainty about competitive behavior is caused by and contributes...
Article
The existing literature finds that price discrepancy, which represents the difference between expected and observed price, helps explain brand choice and purchase intention. This effect is often attributed to transaction utility, that is, the incremental utility associated with the surprise of observing a price lower or higher than expected. This r...
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Full-text available
The literature has produced an incomplete understanding of factors explaining the variance in price search in markets in which search is a regularly occurring activity. The authors develop a model of price search in the retail grocery industry by expanding the classic cost-benefit model and integrating psychosocial returns and concepts from human c...
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The literature has produced an incomplete understanding of factors explaining the variance in price search in markets in which search is a regularly occurring activity. The authors develop a model of price search in the retail grocery industry by expanding the classic cost-benefit model and integrating psychosocial returns and concepts from human c...
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Full-text available
This goal of this paper is to establish a research agenda that will lead to a stream of research that closes the gap between actual and normative strategic managerial decision making. We start by distinguishing strategic managerial decision making (choices) from other choices. Next, we propose a conceptual model of how managers make strategic decis...
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A widespread practice in grocery store advertising is to compare the advertised store's prices to a competitor's prices on multiple items. An important, but largely unexplored, issue is how this information is processed and used in conjunction with prior beliefs to influence price perceptions. In our initial studies we manipulated prior beliefs and...
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Despite the importance of understanding and predicting competitive reactions in oligopoly theory, empirical research on the topic is sparse. We examine whether retail decision-makers' pricing reactions conform to the asymmetric conjecture specified in the classic kinked demand curve theory: that firms will tend to follow competitors' price cuts but...
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Alternative predictions are tested in examining how managers respond to the risk of changing price. We observe a substantial difference in the way that managers from self-reported volume-oriented and margin-oriented firms respond to a hypothetical problem which assesses risk-seeking in pricing. Particularly interesting is the finding that the goal...
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This paper examines the puzzle of why marketing strategists often appear to insufficiently account for competitors'' likely reactions when choosing their own actions. We examine and define the concept of competitive conjecture and consider how, in a descriptive sense, it should influence marketing decisions. We then explore a series of cognitive an...
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In light of the increasing interest in understanding the behavioral side of competitive decision making, this paper examines how the price-cutting momentum (PCM) created by other competiors' reactions to an initiator's price cut influences pricing decisions. We explore the PCM construct and present the results of a study examining the effect of PCM...
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In reference-price models, internal reference price is typically estimated from actual market prices. Given the generally poor price knowledge consumers have exhibited in prior research, the question is whether it is reasonable to use actual market prices to estimate consumers' internal reference-price standards. The initial answer provided in this...
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Economic theory suggests that price competition is in part driven by actively searching buyers. An exploratory study in a major midwestern grocery market revealed that executives responsible for pricing decisions overestimate the size of the price-driven shopping segment. The reasons behind this perception and its impact on pricing decisions are ex...
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Kahneman and Tversky's well-known prospect theory predicts that decision-makers will predominantly take the sure thing when choosing between a sure gain and a risky gain of equal or better expected value. We find that, when a price cut decision is presented in a form similar to the prospect theory gamble problems, the majority of respondents (both...
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A new theory in economics (Kahneman, Knetsch, and Thaler, 1986a, b) contends that consumer judgments of seller fairness can explain why sellers in many industries do not raise prices to ration off excess demand. In a small study focusing on automated teller machines (ATM) fees, we obtain empirical support for KKT's prediction that unjustified price...
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Preliminary measures of pre-purchase uncertainty were developed through focus group interviews and were administered to a nationwide sample of recent appliance purchasers. Responses indicated the presence of two general types of uncertainty: knowledge uncertainty (uncertainty regarding information about alternatives) and choice uncertainty (uncerta...
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This article examines whether advertisers' regular price claims affect consumer perceptions and price search behavior. Experiments involving simulated shopping via personal computers indicate that compared to an ad with no reference price, an ad with a plausible reference price raised subjects' estimates of the advertiser's regular price and the pe...
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This article presents an experimental test of propositions that come from Stigler's classic economics of information theory. It reviews previous empirical evidence for the propositions and discusses the mixed support provided for the theory. It also discusses a major assumption of the theory and presents hypotheses that suggest that the proposition...
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Full-text available
Marketing researchers have given little attention to the study of consumer insurance purchase decisions, in spite of the fact that such decisions reflect high uncertainty and potentially "irrational" behavior. The objective of this paper is twofold. First, we present several interesting problems regarding consumer insurance decision-making derived...

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