Marketing Mix Decisions for New Products
Open Access
- 1 February 1964
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing Research
- Vol. 1 (1) , 43-49
- https://doi.org/10.1177/002224376400100108
Abstract
In evaluating a new product idea, it can be misleading to consider only one conception of the product's attributes and marketing program. Different conceptions of the marketing mix will yield different estimates of profit potential. The author shows how the “best” marketing mix can be found under the conditions of limited information. The estimated profit potential of this best mix becomes the basis for judging whether the company should develop the new product.Keywords
This publication has 1 reference indexed in Scilit:
- Bayesian statistics & product decisionsBusiness Horizons, 1962