Publication detail

Trend Modelling as a Support of Managerial Decision-Making Process in Relation to Customers

SCHÜLLER, D. DOUBRAVSKÝ, K. ŠIMBEROVÁ, I.

Original Title

Trend Modelling as a Support of Managerial Decision-Making Process in Relation to Customers

Type

journal article in Web of Science

Language

English

Original 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.

Keywords

Trend modelling; Decision-making process; Brand trust; Brand love; Word of mouth; Price perception; Consumer Experience.

Authors

SCHÜLLER, D.; DOUBRAVSKÝ, K.; ŠIMBEROVÁ, I.

Released

31. 10. 2023

Publisher

Kaunas University of Technology

Location

Kaunas

ISBN

2029-5839

Periodical

Inzinerine Ekonomika-Engineering Economics

Year of study

34

Number

4

State

Republic of Lithuania

Pages from

412

Pages to

424

Pages count

13

URL

https://inzeko.ktu.lt/index.php/EE/article/view/30696

Full text in the Digital Library

http://hdl.handle.net/11012/245072

BibTex

@article{BUT185025,
  author="David {Schüller} and Karel {Doubravský} and Iveta {Šimberová}",
  title="Trend Modelling as a Support of Managerial Decision-Making Process in Relation to Customers",
  journal="Inzinerine Ekonomika-Engineering Economics",
  year="2023",
  volume="34",
  number="4",
  pages="412--424",
  doi="10.5755/j01.ee.34.4.30696",
  issn="2029-5839",
  url="https://inzeko.ktu.lt/index.php/EE/article/view/30696"
}