Decision Calculus ModelFeedback.png


Definition

Decision calculus models are quantitative models of a process that are calibrated by examining subjective judgments about outcomes of the process (e.g., market share or sales of a firm) under a variety of hypothetical scenarios (e.g., advertising spending level, promotion expenditures). Once the model linking process outcomes to marketing decision variables has been calibrated, it is possible to derive an optimal marketing recommendation.[1]

References

  1. ^ American Marketing Association. Dictionary. <https://www.ama.org/resources/Pages/Dictionary.aspx> (cited 26 May 2015).

NewComment.png
We welcome comments that will help us improve the precision and clarity of our definitions. To submit a suggestion, please click on the Add Discussion bar below.
Notes:
  • Comments are limited to registered users of this site. Click “Join” at the top right hand side of this page to apply.
  • If you would like to suggest a new marketing definition or have a general comment, please visit our home page.