THE MARKETING MIX DECISION UNDER UNCERTAINTY

摘要: This paper develops a marketing mix model under uncertainty using the Capital Asset Pricing Model (CAPM) valuation framework. The is general because it treats price, advertising and personal selling simultaneously, allows for patterns of uncertainty. Because manager often lacks precise quantitative information about sales response function, analysis focuses on qualitative properties model. methodology comparative statics used to determine how should be modified when market conditions change. Specifically, are shown depend influence price-sensitivity, interaction between relationship return earned in capital markets. risk depend, addition, mathematical form with which enters random demand function (i.e., additive, multiplicative or generalize...