Problem: Based on the recommendation of a student project group the firm X changed their packaging 3 months ago. Against the forecasts given, the quarterly revenue has decreased significantly since the introduction of the new product packaging design. With the following payoff matrix, argue why only a low-cost survey (2000$) had been done by calculating EVPI.
|
Revenue changes (Mio $)
|
|
|
Strategy
|
Market response
|
Weak
|
Moderate
|
Strong
|
(0,1)
|
(0,6)
|
(0,3)
|
New package
|
-0,05
|
0,1
|
0,3
|
Old package
|
0
|
0
|
0
|