Framework

Abstract

In marketing decision-making, there are many problems which are to a certain extent unique, and where the decision-maker needs a specially designed information-generating process. He can seldom rely entirely on data which are collected on a routine basis. To meet these special problems, some methods and statistical tools are available and these can be used for a valuation of the amount of information needed for a proper decision: Bayesian statistics, for example, is one such method.