Method of Risk Assessment in Determining the Marketing Strategy of a Textile Company That Processes Chemical Fibers

There are always uncertainties and different types of risks inherent in the selection of a marketing strategy by a company. This article examines certain methods and models that allow sounder decisions to be made in devising marketing strategies by accounting for the multivariate nature of market conditions, thus making it possible to avoid errors and obtain the necessary economic results. The approaches that are proposed are based on the mathematical tools of game theory and utility theory, which can be used in situations characterized by uncertainty and risk. The material is explained with the use of examples illustrating the formulation and solution of specific problems encountered by managers at textile companies.