Three studies—a field survey and two experiments—examine social and situational factors influencing the evaluation and communication of information labeled as rumor. The survey focused on rumor transmission and beliefs about marketplace rumors held by the public. Consumers reported that they were exposed to and spread more negative than positive rumors. Additionally, rumor, when identified as such, was evaluated less favorably than other word‐of‐mouth communications. These findings were then examined in greater depth in two experiments that compared the interpersonal consequences of transmission of negative and positive rumors. The first experimental study revealed that labeling information as a rumor decreased its credibility and transmission to others and that positively valenced rumors were more likely to be transmitted and generated greater liking for the transmitter. Study 3 revealed that the personal relevance of the information interacted with valence to influence rumor transmission, affective reactions, and interpersonal attraction. There was a greater propensity to spread positive rumors that reflected well on oneself compared to negative rumors that reflected badly. In contrast, negative rumor about one's rival was more likely to be transmitted than positively valenced rumor. Rumor valence did not influence transmission when the information concerned a remote other.

Undergraduate business students tend to focus on the past strategies of firms, with less thought given to anticipating and adjusting to marketplace changes. Although both educators and employers are concerned about this disconnect, little is known about the extent and form of efforts made by instructors to address it. Interviews with marketing instructors found most incorporating some future orientation into assignments. However, obstacles such as student sloth and time demands on both students and faculty were observed. Survey data collected from instructors, students, and employers found agreement that assignments designed to develop future-oriented thinking and prepare for marketplace change are important.

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