Trend Modelling as a Support of Managerial Decision-Making Process in Relation to Customers
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Date
2023-10-31
Authors
Schüller, David
Doubravský, Karel
Šimberová, Iveta
0000-0002-4677-8665Advisor
Referee
Mark
Journal Title
Journal ISSN
Volume Title
Publisher
Kaunas University of Technology
Altmetrics
Abstract
The issue of managerial decision-making in relation to customers plays a significant role in any enterprise. Managerial decisions are often based on input information that is difficult to quantify. Therefore, common statistical methods cannot be easily used. A trend is the least informative quantifier. The goal of the paper is to present a new formal tool of the managerial decision-making process based on the trend model. This tool is demonstrated using the following variables: word of mouth, electronic word of mouth, brand trust, consumer experience and consumer price perception. These variables were chosen from scientific papers that confirmed a relationship among them. A trend analysis of the model involves assessing the relevant group of particular situations. The model’s predictions can be described as a sequence of these scenarios. The findings show that the trend model is a powerful and suitable tool in the managerial decision-making process.
Description
Citation
Inzinerine Ekonomika-Engineering Economics. 2023, vol. 34, issue 4, p. 412-424.
https://inzeko.ktu.lt/index.php/EE/article/view/30696
https://inzeko.ktu.lt/index.php/EE/article/view/30696
Document type
Peer-reviewed
Document version
Published version
Date of access to the full text
Language of document
en