Decision Making in Marketing

Have you ever made a high-stakes decision? If yes, did you contemplate for some time before landing on the “right” decision — and even then, still felt unsure about the best course of action? In cases like those, you might need a decision tree. It’s more formal than a chat with a friend or a pros-and-cons list. Here, we’ll show you how to create a decision tree and analyze risk versus reward. We’ll also look at a few examples so you can see how other marketers have used decision trees to become better decision makers. Table of Contents What is a decision tree? Decision Tree Analysis How to Create a Decision Tree How to Create a Decision Tree in Excel Decision Tree Examples When it comes to marketing, decision-making can feel particularly risky. What is my colleague is so attached to a new product, she doesn’t want to mention any