Decision-making Tools to Support Innovation

3Marketing Strategy During the Market Entry Phase: An Application of Rough Sets

The decision to innovate is a strategic commitment, requiring an organization to be able to look to the future methodically. Strategic decisions will arise throughout the innovation process in order to implement a successful market entry. This means that the final phase of the innovation process of a product/service, culminating in its launch on the market, must be planned out and prepared.

This includes a marketing approach that is well thought-out and structured. Yet, it is difficult to anticipate the impacts and effectiveness of this marketing approach. This in turn means the necessary efforts, both financial and temporal, are difficult to assess, and in view of the potential stakes, making decisions regarding the allocations of marketing resources must be done objectively and with the assistance of various tools to limit the risks inherent in launches of new innovations on the market.

To illustrate this problem, we will start on the basis of a study carried out by Mahapatra et al. (2010), aimed at identifying the patterns of the most relevant distribution of expenses for maximizing product sales in the cosmetics sector. This article provides an application of the Rough Sets method developed by Pawlak in the 1980s.

3.1. Context and challenges in decision-making

3.1.1. Decision-making in marketing

For a new product or service, the transition from having the status of an invention to that of an ...