A Decision Analysis on the Entry and Exit of A New Market Product

Abstract

This study is a retrospective study to arrive at the optimal decision on the quantity of “Harp lime larger beer” that should have been  produced by Guinness Nigeria Plc in a given month in a year – say (June 2012). The following parameters were estimated – the possible market demand of harp lime, the cost of production, the company’s selling price per create and possible market demand in the month of June 2012. Using a number of criteria for making decision under uncertainty, - maximax criterion, maximim criterion, minimax regret criterion, Laplace criterion, Hurivicz criterion, several decision where arrived at and prepositions made on what would have sustained the product in the market.