1. Elmira Shahriari PhD Marketing student New Mexico State University
What are the Most Important Decision Making Biases in Entrepreneurial Marketing Behavior
Elmira Shahriari
PhD Marketing student
New Mexico State University

2. Main steps in this study
-Definitions according to the literature review -Conduct several personal interviews and read some online interviews -Findings and conclusion

3. Goal:
To find the most common and important biases in marketing decisions, in order to use the positive influences to our advantage and to stop their negative influences.

4. Macro storytelling What are the main external factors (social, economical, governmental,…) influencing the entrepreneurial marketing decision making biases
Micro storytelling
What are the main internal factors ( personal, organizational,…) influencing the entrepreneurial marketing decision making biases

5. Biases in Entrepreneurship
A cognitive bias is the human tendency to draw incorrect conclusions in certain circumstances based on cognitive factors rather than evidence.
Biases in Marketing
Those biases which influence the marketers’ decisions about designing the 4Ps, unconsciously.
Biases in Entrepreneurship
Entrepreneurs’ decision biases which are based on various factors and are about running a business in different stages of its life cycle.

6. Influential factors on entrepreneurs’ decisions
-Personal -Environmental -Organizational

7. Personal Factors:
-Previous Experience -Self-Efficacy -Internal locus of control -Personal Optimism -Risk-taking Propensity -Positive Emotions

8. Environmental Factors:
-Environmental Pressure -Lack of Resources

9. Organizational Factors:
-Limitations in information processing -Lack of decision-making procedures

10. The most important biases which are common between Entrepreneurship and Marketing
-Over Confidence -Escalation of Commitment -Loss Aversion -Planning Fallacy -Illusion of Control -Status Quo -Optimism -The Belief in the Law of Small Numbers

11. Findings and Conclusion
According to the frequency of the biases in marketers’ decisions, the most common biases are known as: -Over Confidence -Illusion of Control -Escalation of Commitment -Planning Fallacy

12. Thank You!