THE TAKING OF MARKETING DECISIONS IN CONDITIONS OF UNCERTAINTY AND RISK
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Vladimir Grosu: The Academy of Economic Studies of Moldova
The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2011, vol. 11, issue 1(13), 75-80
The choice of method of developing marketing decision alternatives and their evaluation depends significantly on the availability of initial information. The decision maker may not possess all the information or possess insufficiently precise information about external environmental conditions and their changes in the future. Such a situation is often observed in the case of macro-environment factors, but can also refer to the company's microenvironment. Given these circumstances, in different conditions there are applied different methods of affirmation and choice of decisions. The situation of certainty allows the use of deterministic methods and models, in the risk situation different probabilistic methods are used, while the situation of uncertainty requires the application of other methods and assessments.
Keywords: marketing decisions; uncertainty; risk; alternative, probability. (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ausvfe:v:11:y:2011:i:1(13):p:75-80
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