Too Long; Didn't Read
Whether you are a business owner or you are an employee for a company, a lot of your time would be spent in addressing the above question. <strong>We need to know this because we would like customers to buy more of our product and to fix problems if customers start buying less.</strong> There are many tactics real companies use to address those problems: discounting, advertising, public relations, engagement activities and so on — but because they are tactics there are situations where they work and those where they don’t. In order to increase one’s success rate above pure chance, one has to have an underlying theoretical basis from which the appropriate tactic can be derived. This post offers one such theory of the value function.