On the Bayesian method and its application in business decisions
The authors deal first with the place and the role of quantitative methods in marketing and business decision-making, concerning themselves then with the specificities of the Bayesian approach. This approach helps to consider the marketing research in the light of its costs versus value of the busin...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Srpsko udruženje za marketing
2003-01-01
|
| Series: | Marketing (Beograd. 1991) |
| Subjects: | |
| Online Access: | http://scindeks-clanci.ceon.rs/data/pdf/0354-3471/2003/0354-34710304191P.pdf |
| Summary: | The authors deal first with the place and the role of quantitative methods in marketing and business decision-making, concerning themselves then with the specificities of the Bayesian approach. This approach helps to consider the marketing research in the light of its costs versus value of the business decision. They deal with the specificities of this approach if compared it traditional approaches. The Bayesian criterion is important particularly in the theory of decision-making. The authors show at the end how this approach can be applied in marketing. |
|---|---|
| ISSN: | 0354-3471 2334-8364 |