Decision making is one of the most important entrepreneurial tasks to identify opportunities so as to create enterprises. Entrepreneurs, intentionally or un-knowingly use heuristics in their decisions, which, though useful in some situations, could lead to decision maki
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Decision making is one of the most important entrepreneurial tasks to identify opportunities so as to create enterprises. Entrepreneurs, intentionally or un-knowingly use heuristics in their decisions, which, though useful in some situations, could lead to decision making biases. Also, entrepreneurial marketing behavior is one of the most important entrepreneurial characteristics in small and medium businesses. This paper’s main goal is to explore nascent entrepreneurs’ marketing behavior with a heuristic approach. This paper’s data were gathered by conducting semi-structured interviews with 15 Iranian high-tech entrepreneurs located in Tehran and analyzed by grounded theory. Decision hastiness was identified as the core category. Furthermore, increase in profit, increase in market share, improvement in decision quality as well as losing market share and decision making biases are the main consequences of heuristic decision making in entrepreneurial marketing behavior. Also, experience, environmental factors, personal goals, business-related factors, needed time to make decisions, decision styles and decision topic are the most influential factors in heuristic decision making in marketing behavior.
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