Bobby, a product manager, wants to increase the market share of his product by 25 percent. He is unsure about how to go about it, not knowing for sure how costs, price, the competition, and the quality of his product will interact to influence market share. Bobby is operating under a condition of:
A) risk.
B) ambiguity.
C) certainty.
D) uncertainty.
E) bounded rationality.

Question

Quizplus · Accepted Answer

Bobby is unsure about how various factors will interact to influence market share, which puts him in a situation of uncertainty. Uncertainty refers to a situation where the decision-maker does not have a clear understanding of the future outcomes of their actions.

Bobby, a Product Manager, Wants to Increase the Market Share