The best business decisions are always based on hard facts. Discus
Scientific decision making, using the marketing model, is a good way to plan how to make a decision. Setting objectives, gathering and analysing data and then developing and implementing a strategy is important when making decisions. However, by just using the marketing model to make a decision may not be the best way to go about making decisions. There are a number of different factors which need to be looked at to benefit the most from making a certain decision and instinct and also be used.
By using the marketing model the business is reducing risk in the making the decision. However this way costs a lot of money especially the research so it may not be effective to use it. Instead a ‘hunch’, or gut instinct, may be better to use to base the decision on. For smaller decisions, such as day-to-day choices, it may be more useful to the company to not use the marketing model because it would take much longer to make decisions. If, for instance, a business was trying to decide how many pencils it bought, as this is a small, relatively insignificant decision, there is no need for an analysis of how many people use. Someone just needs to make the decision quickly so that the business can use its resources more effectively. It also depends of the urgency of the decision. If the pencil manufacturer wanted to know how many a company wants in under 2hrs then it would be virtually impossible to use the marketing model in this instance. If, however, the decision to be made has a much larger time scale, such as development of a product, then the marketing model can be used.
