The Application of Utility Theory in the Making-decision of Marketing Risk Management

DOI

10.2991/iafsm-18.2019.46How to use a DOI?

Keywords

Marketing Risk; Utility Theory; Risk Management; Decision Making

Abstract

In the increasingly competitive and unpredictable business environment, how to control marketing risk to reduce loss is an important issue in the field of marketing research. On the basis of brief description of marketing risk and basic concept of management, this paper analyzes utility, utility function and utility theory, and illustrates the concrete application of utility theory in marketing risk management decision through an example, and explains some possible problems that may exist in practical application. The conclusion is that utility theory has its theoretical value and advantage in marketing risk management decision, but it still needs further development and improvement in practical application.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Gonglong Shi
AU  - Qian Wang
PY  - 2019/03
DA  - 2019/03
TI  - The Application of Utility Theory in the Making-decision of Marketing Risk Management
BT  - Proceedings of the International Academic Conference on Frontiers in Social Sciences and Management Innovation (IAFSM 2018)
PB  - Atlantis Press
SP  - 302
EP  - 309
SN  - 2352-5428
UR  - https://doi.org/10.2991/iafsm-18.2019.46
DO  - 10.2991/iafsm-18.2019.46
ID  - Shi2019/03
ER  -