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Foreign market entry decision-making and heuristics: a mapping of the literature and future avenues

Foreign market entry decision-making and heuristics: a mapping of the literature and future avenues This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews studies published in the international business and international marketing domain to examine heuristically based decisions for foreign market entry.Design/methodology/approachThis paper proposes a systematic literature review and an in-depth analysis of 32 papers published between 1997 and 2021 dealing with foreign market entry and the use of heuristics for international decision-making.FindingsEven if the marketing and management literature is in many ways permeable to the debate around heuristics developed in experimental psychology and cognitive science, international business and international marketing studies on the one hand recognize that international decision-making, especially when dealing with foreign market entry, is strongly characterized by uncertainty, on the other hand, there isn’t a developed and systematized literature about it. This paper shows key topics and areas fundamental to foreign market entry in which heuristics are applied by decision makers and their effectiveness.Originality/valueA systematic review of the use of heuristics for foreign market entry decision-making can represent a useful step for a more organic development of knowledge about the more general use of heuristics for international decision-making. Understanding the decision-making process on the modes of entry in foreign markets is a key topic for international marketing and international business scholars and practitioners. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Research Review Emerald Publishing

Foreign market entry decision-making and heuristics: a mapping of the literature and future avenues

Guercini, Simone; Milanesi, Matilde
Management Research Review , Volume 45 (9): 18 – Aug 12, 2022
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References (125)

Publisher
Emerald Publishing
Copyright
© Simone Guercini and Matilde Milanesi.
ISSN
2040-8269
eISSN
2040-8269
DOI
10.1108/mrr-11-2021-0806
Publisher site
See Article on Publisher Site

Abstract

This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews studies published in the international business and international marketing domain to examine heuristically based decisions for foreign market entry.Design/methodology/approachThis paper proposes a systematic literature review and an in-depth analysis of 32 papers published between 1997 and 2021 dealing with foreign market entry and the use of heuristics for international decision-making.FindingsEven if the marketing and management literature is in many ways permeable to the debate around heuristics developed in experimental psychology and cognitive science, international business and international marketing studies on the one hand recognize that international decision-making, especially when dealing with foreign market entry, is strongly characterized by uncertainty, on the other hand, there isn’t a developed and systematized literature about it. This paper shows key topics and areas fundamental to foreign market entry in which heuristics are applied by decision makers and their effectiveness.Originality/valueA systematic review of the use of heuristics for foreign market entry decision-making can represent a useful step for a more organic development of knowledge about the more general use of heuristics for international decision-making. Understanding the decision-making process on the modes of entry in foreign markets is a key topic for international marketing and international business scholars and practitioners.

Journal

Management Research Review – Emerald Publishing

Published: Aug 12, 2022

Keywords: Heuristics; Rules of thumb; Foreign market entry; International business; International marketing; Literature review; Cognitive shortcuts

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