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The purpose of this research is to determine how managers’ decisions to discontinue products may be affected by their cognitive and demographic characteristics. Research in product management and entrepreneurship has primarily focused on the introduction of innovations and the marketing of emerging and existing products in the marketplace. Considerably less research has focused on product elimination and how marketing managers decide to remove poorly performing products from a given product portfolio. Nevertheless, product elimination decisions are critical to maintaining business health and protecting firm profits, and are a commonly encountered decision for entrepreneurs and managers of existing products. This study empirically explores the role of factors that may affect a manager's decisiveness in eliminating poorly performing products from a product portfolio.

Using a simulated business environment, this study empirically explores the role of factors that may affect a manager’s decisiveness in eliminating poorly performing products from a product portfolio. Product portfolio decisions are presented to a sample of emerging managers using a computer simulation, and the impact of manager characteristics, namely, cognitive style, gender, academic profile and entrepreneurial intentions on product elimination decisiveness is examined using regression analysis.

The findings indicate dominant effects for cognitive style and academic profile in driving the decisiveness of product elimination decisions.

The findings highlight the importance of the academic profile and cognitive style of those entrusted with managing product portfolios, especially as is related to product elimination decisions.

The findings imply a need for determining the optimal fit of candidates for product portfolio management roles, based on factors such as cognitive style, academic performance and academic area of specialization.

Given the role of entrepreneurial enterprises in enabling social equity, this research highlights the need for entrepreneurial education focusing not only on product introduction but also product omission.

This research expands prior research findings on innovation, promotion and elimination of products by asking what happens at the end of a product’s life when the prospects for a product are no longer strong. The research shows that some managers are less decisive and therefore may be challenged when handling product portfolios with sub-performing products. The findings indicate cognitive and academic influences on product elimination indecisiveness and open new avenues for further examining similar influences in managerial decision-making. This line of work therefore encourages inquiry into the drivers of the important decision of product elimination.

Every year, millions of consumers around the world become victims of credit card fraud. These individuals have to appeal to their credit card companies to reverse unauthorized charges. This study aims to profile the American consumers’ experience when complaints to their credit card companies about unauthorized charges fail to produce a resolution. Using a large database of consumer complaint filings with the Consumer Financial Protection Bureau (CFPB), the characteristics of these consumer complaints are identified, and the drivers of consumer financial hardship resulting from credit card fraud are determined.

A random sample of consumer complaints about their credit card companies’ perceived mishandling of cases, filed with the CFPB, is used to conduct content analysis. The resulting content analysis categories are used in a predictive model to determine the drivers of consumer hardship.

In nearly one-quarter of all complaint filings, the credit card company had blamed the complainant as the party responsible for the fraudulent charges or refused to open a fraud investigation altogether. Nearly 60% of complaint reports contain expressions of emotional distress and many mention financial hardship. Nearly half of all complainants consider the fraud department operations of their credit card company as lacking in service quality, many reporting inability to reach the department or to receive a returned call. Even after CFPB intermediation, only 15% of complainants receive some form of financial relief from their credit card company. The majority of the complainants report a lack of willingness by the credit card company to reverse unauathorized charges, leaving the complainant financially responsible for them.

This study focused on data collected from consumers. Future research can expand the scope of inquiry by surveying the staff and executives in the fraud investigation departments of credit card companies to determine the norms of fraud investigation used within the industry.

This study sheds light on the financial hardship and emotional pains that consumers victimized by credit card fraud experience in dealing with their credit card companies.

To the best of the authors’ knowledge, this is the first study to empirically examine American consumers’ complaints about the fraud investigation operations of their credit card companies. Using data captured through the complaint filing system of a federal bureau (CFPB), the findings have implications for policymakers, regulators and credit card companies.

Research in marketing has extensively examined the signaling effects of product warranties on consumer perceptions. Although this stream of research has focused on initial product warranties offered by the manufacturer, studies of extended warranties, which protect consumers against product breakdowns beyond the warranty constraints of the manufacturer, are relatively scarce. This paper aims to empirically establish the effects of variables which influence the pricing of extended warranties for consumer durables.

Using data on over 8,000 product offers in six durable goods categories, drivers of the annual premiums for extended warranties are empirically identified. Bivariate and multi-level hierarchical linear regression methods are used to establish the effects of factors which may drive the prices of extended warranties.

The results reveal that the standardized annual premiums for extended warranties systematically vary across product categories and brands and are further affected by the retailer’s decision to use odd price endings for the sold product and the extended warranty. The influences of warranty length and price level of the protected product on extended warranty premiums are also empirically established.

The findings indicate systematic variations in extended warranty prices as a result of the factors studied. Future research can extend this line of inquiry by utilizing alternative means of data gathering.

Given that marketers often cross-sell many consumer durable goods with extended warranty policies, and considering the growth in consumer spending in this category, as well as the high retail margins associated with extended warranties, this paper contributes to the understanding of the mechanism by which extended warranty prices are determined in the marketplace.

This is the first study to examine the determinants of extended warranty prices, as past studies have been normative and non-empirical in nature.

Entrepreneurial aspirations are essential to the creation and survival of many businesses and to the economic development of nations. Understanding the drivers of entrepreneurial intentions is therefore of central importance from both academic and public policy perspectives. This study aims to explore how entrepreneurial intentions are affected by an individual’s need for cognition (NFC), gender, risk preferences and educational profile.

Using survey data from 668 individuals, the effects of the above factors are empirically established and the mediating role of decision confidence is also examined.

The results indicate that NFC, gender and risk preferences affect entrepreneurial intentions. Furthermore cross-disciplinary differences in entrepreneurial intentions are found within the different sub-disciplines of business.

This paper expands the current body of literature by exploring the combined NFC with risk preferences and gender, on individuals’ entrepreneurial intentions. Furthermore, the entrepreneurial intentions of marketing majors are also contrasted with those of other majors.

The findings of the study identify drivers of entrepreneurial intentions and their varying effects. The results can assist in the development and customization of training programs for entrepreneurs.

To the best of the author’s knowledge, this is the first study to examine the combined effects of NFC, gender, risk preferences and educational profile on entrepreneurial intentions.

While existing research has established various methods for pricing, the impact of a manager’s individual psychological profile on his/her price setting behavior is relatively unexamined. This is especially critical in the context of pricing decisions implemented in response to competitive forces. This paper aims to explore how a manager’s price responses to price cuts by a competitor are affected by his/her cognitive style, gender and entrepreneurial attitudes.

In the first study, a simulation-based pricing environment is used in a lab setting to capture the dynamics of pricing decisions made in response to competitive price cuts. Participants’ price responses are captured in the form of the magnitude of price change implemented in a simulated environment in response to a competitor’s price reduction. The second study extends the scope of inquiry by using a national sample of business professionals and replicates and reinforces the findings of the first study by capturing participants’ attitudinal response on the decision to reduce prices in reaction to competitive price reductions.

The results of both studies indicate significant effects for cognitive style, gender and entrepreneurial attitudes. Individuals with stronger entrepreneurial attitudes and analytical cognitive styles, and females are less likely to engage in reactive price reductions.

The findings of this study indicate that managers’ propensity to engage in price changes in reaction to competitors can be linked to their psychological profile and gender.

Given the existence of the relationship between price reactions of managers and their cognitive style and entrepreneurial attitudes, the training and development of pricing professionals may need to take these individual-level factors into account.

This is the first study that has linked managers’ propensity to engage in price changes in reaction to competitors to their gender and psychological profile.

A significant amount of research in pricing has focused on price as a unidimensional construct – one consisting of a single number (e.g. $1.99). However, the evolving marketing environment, combined with notable growth in services and goods categories that require the communication of complex price information, has led to the use of multi‐dimensional prices. Multi‐dimensional prices consist of multiple numbers (e.g. $199 a month for 36 months) and as a result require the consumer to carry out specific mental computations to determine the cost of the offer. In this paper, empirical evidence on consumer difficulty in evaluating multi‐dimensional prices is examined. Then the strategic impact of such difficulties for pricing managers as well as regulators is examined. The paper concludes with a discussion of the implications of multi‐dimensional pricing on past research findings, and reflects on existing understanding of consumer response to price.

The purpose of this paper is to examine the extent of use of the price‐quality cue in financial services, and to uncover some of its drivers. The drives studied are: advertising exposure, product complexity, and consumer price knowledge. The use of price as an indicator of quality has been a well‐documented phenomenon in consumer goods markets. However, the existence of this relationship has not been tested in services, and in particular in financial services markets.

A consumer survey of over 200 individuals contacted through intercept interviews was conducted. The use of the price‐quality cue and its drivers were measured using multi‐item scales, for six financial services categories: checking accounts, financial advisory services, automobile insurance, home insurance, life insurance, and tax accounting.

Significant variations in the use of price as an indicator of quality across financial services categories are identified. Furthermore, it is found that both consumer price knowledge and advertising exposure increase the use of the price‐quality cue, while product complexity was found to have no significant impact on price‐quality cue utilization for financial services.

Future research could expand the array of variables which drive consumers' use of the price‐quality cue. In addition, a wider range of financial services categories could be studied.

Knowing the extent by which consumers depend on the price‐quality cue in their decisions is critical to optimal positioning of a financial brand. This paper provides specific managerial recommendations on how to approach the pricing and marketing of each of the six financial services categories studied. In addition public policymakers may find the findings of interest due to quality perception biases that may result from financial services providers' pricing tactics

While previous research studies in price‐quality cue utilization have primarily focused on manufactured goods, this paper is the only study that has examined the dynamics of price‐quality cue utilization by consumers in financial services. This is an important inquiry due to the large volume of consumer expenditures in financial services categories, and the significant impact that these categories have on the financial stability and well‐being of the public.

Despite retailers' growing use of lowest‐price refund policies, little is understood about how consumer satisfaction is influenced by them. This paper examines the potential role of market price volatility and store image on consumers' satisfaction of stores offering a lowest‐price refund.

Between‐subject experimental design is used in which subjects are presented with simulated shopping scenarios. In the shopping simulation lowest price refunds are provided to the subjects under different price volatility and store image conditions. Consumer satisfaction is then measured.

Results indicate that when market price volatility is high consumer satisfaction with lowest‐price refunds tends to be significantly higher for stores with a good image than stores with a poor image. As market price volatility increases, consumer perceptions of value increases for stores with a good image, while it declines for stores with a poor image.

The results of the study are limited by the simulated shopping methodology that is used and the absence of field shopping behavior and covariate satisfaction and refund data from retail stores.

Despite receiving the same outcome, different consumers' satisfaction with lowest‐price refunds may be highly influenced by the environment. Generally, both market price volatility and store image influence consumer satisfaction.

By identifying specific market conditions that influence consumer satisfaction with lowest‐price refunds, it may be critical for certain retailers to mobilize their refund programs.