Marketing 2 Assignment: Risk Analysis of Delayed Decisions

This essay explores the multifaceted risks associated with delayed decision-making within the marketing context. It begins by defining delayed decisions and contrasting their potential benefits, such as gaining more information, with the inherent risks, including missed opportunities and adverse effects on relationships or outcomes. The essay then delves into key reasons behind delayed decisions, such as insufficient data, information overload, complexity in choice, fear of making the wrong choice, and the influence of external factors. Through the lens of consumer behavior, particularly in purchasing decisions, the essay illustrates how delays can impact outcomes. The essay references scholarly works by Glimcher and Fehr, Chai, Liu, and Ngai, Coghill, Seth, and Matthews, and Oshima Lee and Emanuel to support its arguments, providing a comprehensive analysis of this critical aspect of marketing strategy and consumer behavior. This assignment, available on Desklib, offers valuable insights for students studying marketing.

Running head: Marketing
Risk in delaying decision
Name of Student
Name of the University
Author notes

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Decisions taken under choices and risks between the delayed outcomes are mainly
identified as two different problems. According to the information given by Glimcher and
Fehr (2013), rare is the person who never delays taking actions and making decisions. Delay
is identified as a tactic of slowing down the process of decision making so that the status quo
is maintained. Decision making is a method of selecting from a list of available or given
alternatives. Delayed decision is described as putting off some choice or process for a certain
time period. Considering an example, in case of making purchasing decision, consumers have
to recognize the actual need, search for the product, and evaluate many of the existing
alternatives for buying the best products for them (Oshima Lee and Emanuel 2013).
Therefore, after going through all these stages their decision of buying a product might be
delayed.
Delayed decision have two perspectives, one in favour and other creating several
risks. The benefit is that one might get additional time and information that are enriched in
both quantity and quality. Some decision, while delayed, delivers convincing and successful
outcomes (Chai, Liu and Ngai 2013). Delayed decision sometime helps in predicting the most
appropriate solution. Considering the above given example of purchasing decision of
customer regarding buying a product, it can be said that sometimes delaying the purchasing
decision, customer can buy better products in a lesser price.
However, discussing about the risks related to the delayed decision, it can be said that
the major disadvantage of this process is that a person might lose better opportunities.
Delaying a particular decision may cost affect a relationship, a job, or even a promotion.
Compromising decision making process might affect a person’s life. However, considering
the same example given above, delaying the decision of purchasing a particular product
might resulted in loss of that product, loss of better opportunity or promotional offers related

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to that offer and many such. Below, there is a list of key reasons that drives towards delayed
decision.
1. Not having enough data and information regarding the subject and lack of sufficient
time to gather appropriate information.
2. Sometimes, taking time for collecting information and overwhelmed with more than
required information caused complexity.
3. While a person gets confused with multiple choices and many points, decision making
process become complicated and delayed.
4. Requirement of more time for processing and deciding the final choice.
5. Fear of taking wrong decision also sometimes delayed the entire decision making
process (Coghill, Seth and Matthews 2014).
6. In some cases, some internal and external factors such as, political, social,
environmental and many such factors also creates hindrance in making timely
decision.
7. Analysing the final consequence is also a major reason.

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Reference
Chai, J., Liu, J.N. and Ngai, E.W., 2013. Application of decision-making techniques in
supplier selection: A systematic review of literature. Expert systems with applications,
40(10), pp.3872-3885.
Coghill, D.R., Seth, S. and Matthews, K., 2014. A comprehensive assessment of memory,
delay aversion, timing, inhibition, decision making and variability in attention deficit
hyperactivity disorder: advancing beyond the three-pathway models. Psychological medicine,
44(9), pp.1989-2001.
Glimcher, P.W. and Fehr, E. eds., 2013. Neuroeconomics: Decision making and the brain.
Academic Press.
Oshima Lee, E. and Emanuel, E.J., 2013. Shared decision making to improve care and reduce
costs. New England Journal of Medicine, 368(1), pp.6-8.