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Problem: Juliette Lemonade Case Analysis
• Problem Statement• Identification of Alternatives• Evaluation & Recommendation• Rationale / Supporting Calculations
The DECIDE Process:
1. Define problem (objective, success measure, and constraint clearly articulated)
2. Enumerate the decision factors (alternative courses of action, uncertainties)
3. Consider relevant information (distill all information available for what is relevant to decision making)
4. Identify the best alternative (based on decision analysis/what if scenarios/payoff tables)
5. Develop a plan for implementing the chosen alternative (tactical plan using marketing mix)
6. Evaluate the decision and the decision process (decision has to be made based on limited information available - and not too many assumptions for what is not!)
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