Marko Sarstedt How are Purchasing Decisions Impacted by the Compromise Effect?

Marko Sarstedt is Professor of Marketing at Otto von Guericke University Magdeburg. He has previously worked at the University of Newcastle (Australia) and Ludwig Maximilian University of Munich. His research focuses on consumer behavior and on the improvement of marketing decision making. An area editor for Behaviormetrika, Sarstedt also sits on the editorial board of the Journal of Co-operative Organization and Management. In 2017, Sarstedt was judged the fifth most influential economic researcher in Germany, Austria, and Switzerland (F.A.Z.-Ökonomenranking).

Area of Research

Marketing, Structural Equation Modeling, Partial Least Squares, Context Effects

since 2018

Adjunct Professor

Monash University Malaysia

since 2012

Professor of Marketing

Otto-von-Guericke University Magdeburg (Otto-von-Guericke-Universität Magdeburg) (more details)

Fakultät für Wirtschaftswissenschaft

2011-2018

Conjoint Professor

University of Newcastle

2010-2012

Associate Professor for Quantitative Methods in Marketing & Management

Ludwig Maximilian University Munich (Ludwig-Maximilians-Universität München)

Department of Economics

2009-2009

Visiting Professor

University of Technology Sydney

2008-2008

Visiting Professor

Villanova University

Villanova School of Business

2008-2010

Assistant Professor

Ludwig Maximilian University Munich (Ludwig-Maximilians-Universität München)

Institute for Market-based Management

2006-2007

Master of Business Research

Ludwig Maximilian University Munich (Ludwig-Maximilians-Universität München)

2003-2005

Diploma

Ludwig Maximilian University Munich (Ludwig-Maximilians-Universität München)

Prizes

- Emerald Citations of Excellence Award 2017 for the Article “Partial Least Squares Structural Equation Modeling (PLS-SEM): An Emerging Tool in Business Research,” Published in European Business Review

- Emerald Citations of Excellence Award 2017 for the Article “A New Criterion for Assessing Discriminant Validity in Variance-based Structural Equation Modeling” Published in Journal of the Academy of Marketing Science

- Emerald Citations of Excellence Award 2017 for the Article “Common Beliefs and Reality About PLS: Comments on Rönkkö and Evermann (2013),” Published in Organizational Research Methods

- Taylor & Francis Citation Award for the Article “PLS-SEM. Indeed a Silver Bullet,” Published in Journal of Marketing Theory & Practice

- Outstanding Paper Award 2014 for the Article “Partial Least Squares Structural Equation Modeling (PLS-SEM): An Emerging Tool in Business Research,” Published in European Business Review

- Best Paper Award in the Advancing Research Methods Track at the 2010 Global Marketing Conference, Tokyo, Japan

- William R. Darden Award at the 2009 Annual Conference of the Academy of Marketing Science, Baltimore, USA

- Dissertation Award of the Munich School of Management

- Best Paper Award in the Integrated Marketing Communications Track at the 2008 Global Marketing Conference, Shanghai, China

- Acquisition of Industry Funds through the Corporate Reputation Monitor, a Corporate Branding Instrument Used by Several Major DAX Companies (e.g., Allianz, BMW Group, Deutsche Telekom)

- Cooperation with YouGov Panel Germany for Database Access

- Grant from the German Academic Exhange Service for a Research Say at the University of Technology Sydney, Australia

- Grant from the German Academic Exhange Service for Presenting a Special Session at the 2011 Annual Conference of the Academy of Marketing, Coral Gables, USA

- Three-Year Research Project with Volkswagen AG

- Research Co-operations with Local SMEs (SWM, MDWI)

© Otto von Guericke Universität Magdeburg

Otto-von-Guericke University Magdeburg (Otto-von-Guericke-Universität Magdeburg)

Magdeburg, Germany

Founded in 1993, the Otto von Guericke University Magdeburg is one of the youngest universities in Germany. As a catalyst and driver of innovation, both in the region and well beyond, the Otto von Guericke University Magdeburg pursues innovative strategies for reinforcing the transfer of technology and knowledge in regional and international enterprises. The university’s main focus of expertise is in the traditional areas of engineering, the natural sciences and medicine. It also views economics and management and the social sciences and humanities as essential disciplines for a modern university in the information age. The key areas of research transfer are automotive, digital engineering, medical technology, and renewable energies. (more)

Research Group

Consumer Research Group

The Consumer Research group (CoRe) at the Otto von Guericke University Magdeburg seeks to generate insights about different consumer groups, their preferences, and the mechanisms that trigger certain behaviors. Numerous examples from management practice such as Apple, Google, and Uber show that consumer-centric management is the key to company success. However, successfully managing consumer relationships requires developing a thorough understanding of their varying needs and wants. Specifically, marketers now recognize that consumer behavior is a dynamic process, which goes well beyond what happens at the point-of-sale. The analysis of consumer behavior covers the entire consumption process and requires a holistic multi-method approach. Following this concept, researchers at CoRe conduct and disseminate rigorous research in the fields of choice anomalies, the physiology of consumer behavior, and research methodology. Regular publications in internationally renowned scientific journals are proof of the outstanding research work conducted at CoRe. Several of these publications are among the most frequently cited articles in the social sciences. (more)

Map

The compromise effect can be observed in the consumer’s tendency to avoid extreme ends of the available range when making purchasing decisions. In this video, MARKO SARSTEDT investigates the origins of the compromise effect. Describing an experiment that interrogates the effects of a lowering of cognitive capability on purchasing decisions, Sarstedt argues that rather than involving fast or intuitive decision making, the compromise effect is grounded in deliberate and demanding thought processes. The research provides a platform for further work examining the links between other effects (e.g. the attraction effect, the phantom decoy effect) and cognitive depletion.

LT Video Publication DOI: https://doi.org/10.21036/LTPUB10639

The Influence of Serotonin Deficiency on Choice Deferral and the Compromise Effect

  • Marcel Lichters, Claudia Brunnlieb, Gideon Nave, Marko Sarstedt and Bodo Vogt
  • Journal of Marketing Research
  • Published in 2016
Marcel Lichters, Claudia Brunnlieb, Gideon Nave, Marko Sarstedt and Bodo Vogt. "The Influence of Serotonin Deficiency on Choice Deferral and the Compromise Effect." Journal of Marketing Research 53 (2016): 183-198. doi:10.1509/jmr.14.0482.