Today’s corporate leaders must direct their companies through an increasingly complex and risky business climate. Critical decisions often must be made very quickly and with incomplete information. The determination of pricing strategies, capital budgeting, sales force distribution, and marketing activity levels all fall within this paradigm. To complicate the decision-maker’s problem, budget constraints and manpower limitations must also be carefully considered. How can these leaders make the appropriate trade-offs and drive their companies to success?
The short answer is that these business managers must perform some sort of optimization. This article provides information about optimal marketing mix. A case study is provided for optimizing the marketing mix.
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Source: Steve Waldschmidt