EXPRESS: Female Chief Marketing Officers: When and Why Their Marketing Decisions Differ From Their Male Counterparts?

Abstract

Firms have appointed a significant number of female Chief Marketing Officers (CMOs) over the last decade. However, the question of how female CMOs differ from their male counterparts is yet to be examined. This research uses a multi-method approach to examine when and why female CMOs differ in marketing decisions from their male counterparts. In Study 1, the authors use secondary data to examine the effect of CMO gender on multiple marketing decisions and find that female CMOs make less risky decisions. Further, the authors find evidence that female CMOs’ risk-taking behavior is contingent on structural, organizational, and environmental factors (CEO Gender, relative firm performance, and demand uncertainty). In Study 2, the authors employ the MarkStrat simulation, in which participants assume the role of CMO, to test the main finding from Study 1 in a controlled setting and provide evidence for the differential effect of gender on radical vs. incremental new product introductions. In Study 3, the authors examine survey data to find evidence for the underlying mechanisms (over-confidence, failure avoidance orientation, and scrutiny) behind female CMOs’ lesser risk-taking behavior.