A nash equilibrium model of campaign spending

1986 ◽  
Vol 14 (2) ◽  
pp. 76-78
Author(s):  
Douglas W. Mitchell
Keyword(s):  
Nash Equilibrium ◽  
Equilibrium Model ◽  
Campaign Spending

A game theory approach to selecting marketing-mix strategies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mansour Abedian ◽  
Atefeh Amindoust ◽  
Reza Maddahi ◽  
Javid Jouzdani
Keyword(s):  
Game Theory ◽  
Nash Equilibrium ◽  
Marketing Strategy ◽  
Equilibrium Model ◽  
Marketing Mix ◽  
Marketing Strategies ◽  
Theory Approach ◽  
Market Place ◽  
Content Type ◽  
The Game Theory

PurposeAdopting efficient marketing strategies is a challenging task in a competitive market place involving complex marketing planning, techniques and mechanisms to identify the best course of action under these circumstances and finding optimal solutions or stable outcomes. Decisions and strategies of competitors in the market influence the selection of the appropriate marketing strategy. The main purpose of this paper is to develop a mathematical methodology based on the game theory approach for planning optimal marketing-mix strategies in dynamic competitive markets, taking into account strategic foresight and interaction effects.Design/methodology/approachThe game theory approach, as a decision-making tool in conflict situations, is suggested for planning and adopting optimal marketing strategy. The main intellectual attraction of the game theory is essentially a question of how to act in gaming situations against highly rational opponents A kind of static, finite and non-cooperative game analytics approach has been developed for this issue, and the proposed model has been implemented to design optimal marketing strategies for two top brands of the automotive parts market in Iran.FindingsThe findings of this study show that the optimal marketing-mix strategy for brand A is pricing and for brand B is the product strategy.Practical implicationsGame theory and the Nash equilibrium model can provide a practical approach to find and adopt the right strategy, know competitors' movements and strategies and get more profit.Originality/valueThe integration of the game theory approach into the marketing mix framework has been adopted as a generalized model for marketing strategy planning and analysis as well as to resolve some shortcomings of the marketing mix framework. The Nash equilibrium model has been used to analyze the results. The incorporation of game theory into marketing models has the potential to enrich the scope of marketing modeling.

scholarly journals An Extension of One-Period Nash Equilibrium Model in Non-Life Insurance Markets

2018 ◽  
Vol 09 (12) ◽  
pp. 1339-1350
Author(s):  
G. Battulga ◽  
L. Altangerel ◽  
G. Battur
Keyword(s):  
Nash Equilibrium ◽  
Life Insurance ◽  
Equilibrium Model ◽  
Insurance Markets

Analysis of Combined Activity in Collaborative Information Seeking Based on Game Theory

2013 ◽  
Vol 850-851 ◽  
pp. 1044-1047
Author(s):  
Hai Dong Yu
Keyword(s):  
Game Theory ◽  
Nash Equilibrium ◽  
Equilibrium Model ◽  
Information Seeking ◽  
Complete Information ◽  
Compensation Policy ◽  
Bayesian Nash Equilibrium ◽  
Work Tasks ◽  
Collaborative Information Seeking ◽  
The Stability

The paper studied the game strategy decisions of alliance leader and members in collaborative information seeking. Based on basic Nash equilibrium model with complete information, it researched Bayesian-Nash equilibrium under incomplete information condition which further implied that the incompleteness of information had effected on the alliance leader’s compensation policy. Furthermore, it revealed a methodology to analyze the stability of Bayesian-Nash equilibrium and gave a detailed algorithm. It provided a framework to systematically explore the relationships between alliance leader and other members while solving work tasks in collaboration.

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