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Excerpt from A Quantitative Approach to New Product Decision Making: 215-66
Mathematical models and quantitative techniques have found an increasing number of applications as tools for management decision making. They are most useful to management in areas where a high degree of complexity forces an almost complete reliance upon subjective reasoning. One of the most difficult and complex decisions businessmen face is the new product decision. At some stage in a new product's development the executive must decide if the product is to be introduced, if it is to be rejected, or if more study is needed before a decision can be reached.
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