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6 Cards in this Set

  • Front
  • Back
Possessing a good understanding of the process of decision-making can help us:
-obtain better outcomes
-avoid preventable and costly mistakes
-understad what kind of decesions others a likely to make
3 Different categories of decisions
1. Deliberative vs. non-deliberative decisions
2.Easy (“no-brainers”) vs. hard decisions
3.Important vs. unimportant decisions
4 reasons why mktg decesions are complex
1.many variables
2.some variables are external
3.variables lack stability response is nonlinear
A 5-Step Decision-Making Process
1.Understand the decision situation!!!!
(a problem, an opportunity, or both?)
2.Develop alternatives
3.Establish criteria
4.Evaluate alternatives
5.Resolve decision
3 steps in decesion framing
1.list differet ways to state the problem
2.question key assumptions
3.which opportunity statement best captures important features
new coke flop
the decesion was defined too broadly. the decesion was based just on taste and they didnt think about customer loyalty