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A small agency is going to run one four possible promotional campaigns for a client who is introducing a new product. The success of the
A small agency is going to run one four possible promotional campaigns for a client who is introducing a new product. The success of the activity depends on the demand for the product. The net returns (in thousand of dollars) under different scenarios are shown below. Answer the next question.
High Medium Low
Aggressive 30 18 -3
Strong 25 20 2
Cautious 16 11 5
Conservative 14 7 9
Based on the mini-max regret criterion, which of the four strategies should be followed?
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