EAN: 9780792399643

MARKETING DECISIONS UNDER UNCERTAINTY - DUNG NG...

Remarkable advance in quantitative marketing research in the last two decades  incorporating
applied microeconomic theories  operations research and management applications  has brought
the field of marketing alongside with finance  accounting and productionto within an
executive'sreach for a sophisticatedtoolbox for decision making in an increasingly competitive
and complex business environment. A quick look at Marketing  a recently published book edited
by Eliashberg and Lilien would indicate even to the casual reader the extent of such
methodological progress made by marketing scholars. Even in such an impressive and nearly
exhaustive collection oftopics  with the notable exception pointed out by the editors of
applicationsofthe scanner data  and in spite of the reference to it  an important omission is
related to the issues ofmarketing decisions under conditions ofuncertainty. It is fairly
obvious to the marketing executive and academician alike to recognize the important role
uncertaintyplays in marketingdecisions such as pricing  promotion  advertising  sales force
management  and others. The major purpose of this study is to address certain major marketing
decision variables within the general context of an uncertain environment. While there have
been significant progresses in analyzing marketing behaviors in a stochastic environment the
sourcesscatteramong differentmanagementandmarketingjoumals  and to the extent that these issues
are addressed at all  they have aimed mainly at each separate  specifictopic at a time. Thus 
our effort to bring these studies together in the same framework should facilitate our in-depth
analysis of these important phenomena.

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