scholarly journals Using the mathematical apparatus of game theory in strategic marketing

1970 ◽  
pp. 116-123
Author(s):  
Є.А. Івченко ◽  
M.M. Бучнєв
Keyword(s):  
Mathematical Model ◽  
Game Theory ◽  
Marketing Strategy ◽  
Optimal Strategies ◽  
Marketing Strategies ◽  
Strategic Marketing ◽  
Mathematical Apparatus ◽  
The Game Theory ◽  
Marketing Activities ◽  
The Cost

The article discusses the use of the mathematical apparatus of game theory in strategic marketing. The use of the game theory toolkit in the formation of the marketing strategies of an enterprise has been investigated. According to the results of the study, it has been established that the introduction of game theory methods into marketing activities will make it possible to analyze complex socio-economic systems for solving strategic problems. Game theory models can be thought of as games of strategies or actions, such as setting prices, setting the size of output, determining the cost of advertising, or determining the cost of promoting products to the market. It is noted that game theory can predict the results of competitive situations and help choose optimal strategies. For practical work in strategic marketing, it is of particular importance that game theory allows you to choose optimal strategies that can improve the structure and outcome of the game. The use of the conceptual apparatus of the theory in economic theory is analyzed using the example of quantitative models of duopoly and the concept of equilibrium. The description of the mathematical model of strategic interaction is formalized, which reflects the inherent features of the conflict. The procedure for applying game theory in the formation of marketing strategies of enterprises is analyzed and the main stages of the procedure for choosing an optimal marketing strategy using game theory are highlighted. An algorithm for applying the mathematical apparatus of game theory in marketing activities is proposed. When developing a marketing strategy for an enterprise, general marketing goals are considered, depending on the level of strategic management and goals concerning individual elements of the marketing mix. A "tree of goals" of an enterprise for a marketing complex is proposed when forming a marketing strategy of an enterprise using the mathematical apparatus of game theory. A payment matrix has been formed, which makes it possible to determine possible optimal strategies and options for the game. The problems of using the mathematical apparatus in the formation of the marketing strategies of the enterprise are highlighted. The conceptual apparatus has been determined and basic tasks have been formulated, with the help of which the game theory toolkit allows making decisions in the marketing activities of an enterprise. Keywords: game theory, strategy, strategic marketing, marketing strategy, strategic decisions, mathematical model, decision making.

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.

Strategi Pemasaran Industri Rumah Tangga Arang Tempurung Kelapa (Studi Kasus Pada Industri Rumah Tangga Bapak Abdul Razak Di Cimanggis, Ciputat, Tangerang Selatan)

2018 ◽  
Vol 1 (1) ◽  
pp. 67-73
Author(s):  
Zelivieska Bintang Maharani ◽  
Ratna Pratiwi ◽  
Qory Anissa ◽  
Dwi Ratnasari ◽  
Sugeng Waluyo ◽  
...  
Keyword(s):  
Marketing Strategy ◽  
Word Of Mouth ◽  
Marketing Strategies ◽  
Technology Utilization ◽  
Marketing Activities ◽  
Home Industries ◽  
Industrial Strength

In South Tangerang city, there are many home industries producing charcoal shell. One of the industry is practiced by Mr. Abdul Razak in Ciputat District. According to some studies, in general the home industry is facing many problems, one of which is a weak in marketing strategy. Based the information, this article reports the marketing strategies implemented by the industry. With SWOT approach, we informed that the position of industrial strength lies in good relationships with suppliers. And the weakness is that the marketing activities carried out only through word of mouth. We recommend that the industry need to consider the using of banners or internet-based technology utilization for the marketing strategies.

scholarly journals Analisis Game Theory pada Strategi Bersaing Alfamart dan Indomaret di Kebumen

2021 ◽  
Vol 3 (2) ◽  
pp. 251-259
Author(s):  
An Nisa Nur Laila ◽  
Kabul Trifiyanto
Keyword(s):  
Game Theory ◽  
Marketing Strategy ◽  
Marketing Mix ◽  
Marketing Strategies ◽  
Sales Volume ◽  
Validity And Reliability ◽  
Product Price ◽  
Physical Evidence ◽  
Promotion Strategies ◽  
Product Strategies

Alfamart and Indomaret are the market rulers in Indonesia. According to research firm Nielsen, Alfamart and Indomaret take 87% market share (Gumiwang, 2019). Both retailers compete in opening their outlets which can influence marketing strategies and increase sales volume. This study aims to determine the optimal marketing strategy through game theory that is oriented towards the advantages of company facilities that are prioritized by customers and to find out what strategies are appropriate to be improved and maintained so that customers are more satisfied. Using the SPSS 24 Version tool to calculate the level of validity and reliability of each attribute given and also to determine a Cartesian chart to determine Importance Performance Analysis and use the POM-QM 4 software to determine what strategy is superior to Alfamart and Indomaret. The elements of the marketing mix used are Product , price, Promotion, Place, People, physical evidence and process. The purpose of this research is to get an optimal marketing strategy through game theory that is oriented to the advantages of company facilities that are prioritized by customers and to find out what strategies are appropriate to improve so that customers are more satisfied. The results showed that Alfamart was superior in implementing promotion strategies and Indomaret was superior in implementing product strategies.

scholarly journals THE EVOLUTION OF THE FORMATION OF STRATEGIC MANAGEMENT IN INCREASING THE COMPETITIVENESS OF ENTERPRISES

2020 ◽  
Author(s):  
Viktor Nyzhnyk ◽  
◽  
Olha Hromova ◽  
Keyword(s):  
Economic Development ◽  
Strategic Management ◽  
Marketing Strategy ◽  
Strategic Marketing ◽  
Enterprise Management ◽  
Management Decisions ◽  
Modern Enterprise ◽  
Holistic Concept ◽  
Marketing Activities

Every year, more and more scientists and practicing economists explore such categories as «marketing» and «management», providing material for further reflection and analysis. Currently, the interpretation of marketing as a function of management is inferior to understanding it as a holistic concept of management, the so-called business philosophy. New directions of economic development to ensure its long-term economic growth require a deeper rethinking of the role of marketing in the activities of industrial enterprises in order to increase their competitiveness and identify it as a powerful factor in modernizing individual businesses and the economy. Strategic marketing today is necessary for the company, as it facilitates its rapid adaptation in the face of intense competition and the presence of a non-price aspect of this struggle. The purpose of the study is to study and combine strategic management and marketing, forming such a category as strategic marketing. Because it is known that strategic marketing emerged at the last stage of the evolution of marketing management. The basis of strategic marketing is to achieve sustainable competitive advantages in the market. During the development of a competitive marketing strategy, the company strives for successful and long-term work in the market. There is no one-size-fits-all strategy. It all depends on various factors: the industry in which the company operates, the capital and experience of the firm, competitors in this field, the creative approach of each company to stand out among others and the innovative approach. Only by considering all these factors, the company can build its personal, unlike all others, marketing strategy. Thanks to the management carried out by means of achievements of modern management and on the basis of marketing philosophy of management and control, the modern enterprise can achieve realization of the strategic purposes and increase not only own level of competitiveness, but also economy as a whole. Thus, modern economic development makes it possible to assert that the management of the enterprise and the adoption of not only operational but also strategic management decisions are significantly influenced by the marketing activities of the enterprise. Here it is necessary to understand not the narrow influence of various elements of marketing (advertising, sales, distribution, etc.), but its complex manifestation. This is due to the fact that until today, marketing has been closely linked to management, as marketing technologies and tools are evolving and beginning to penetrate and be used in the work of all departments at all levels of enterprise management. This gives grounds to assert that through a comprehensive assessment of the effectiveness of marketing activities can assess the effectiveness of management decisions and the success of enterprise management, as well as to give an opinion on the prospects for further development.

The Evolution of Private Label Products in Turkey

2020 ◽  
pp. 1-16
Author(s):  
Yusuf Arslan
Keyword(s):  
Literature Review ◽  
Marketing Strategy ◽  
Marketing Strategies ◽  
Private Label ◽  
Private Labels ◽  
Developed Markets ◽  
Marketing Activities ◽  
Private Label Products

The purpose of this chapter is to reveal the recent situation in Turkey for private label products in detail and to create some insights for marketing professionals in terms of which marketing strategy to use for private labels to become more successful in the market. To reach this aim, a literature review has been made to understand the success of developed markets and to reveal the marketing strategies that would be proper to implement also in the Turkish market. Then, certain marketing strategies were proposed to the professionals in the Turkish market. One of the main solutions revealed in this study was the importance of creating premium private labels for the Turkish market. It was also understood that Turkish professionals can benefit from the successful marketing activities implemented by developed markets earlier.

Marketing Strategy and Differential Advantage

1983 ◽  
Vol 47 (2) ◽  
pp. 68-75 ◽  
Author(s):  
Victor J. Cook
Keyword(s):  
Marketing Strategy ◽  
Market Share ◽  
Marketing Mix ◽  
Portfolio Analysis ◽  
Marketing Strategies ◽  
Strategic Marketing ◽  
New Paradigm ◽  
Methods Of Analysis ◽  
Theoretical Function ◽  
Strategic Force

Extending portfolio analysis and PIMS studies to include military concepts of strategic force produces a new paradigm of marketing strategies. The author introduces and calibrates the concept of strategic marketing ambition, relates this concept to the marketing mix, and then derives a theoretical function linking strategic ambitions and investments with market share. An operational measure of differential marketing advantage is introduced, and the. methods of analysis are applied in an illustration of competitive investments, marketing strategy and differential advantage.

scholarly journals ДОСВІД РЕАЛІЗАЦІЇ МАРКЕТИНГОВОЇ СТРАТЕГІЇ В ДІЯЛЬНОСТІ ПІДПРИЄМСТВ АПК

2012 ◽  
pp. 137-141
Author(s):  
Н. Н. Фастівець
Keyword(s):  
Marketing Strategy ◽  
System Approach ◽  
Marketing Strategies ◽  
Strategic Marketing ◽  
Research Development ◽  
Industrial Enterprises ◽  
General Line

Розглядаються теоретичні аспекти розвиткумаркетингових стратегій, їх удосконалення наоснові раціональних підходів, можливих комбінаційзастосування та досвід їх реалізації в діяльностісучасних агропромислових підприємств України.Формування маркетингової стратегії – це най-суттєвіший і найскладніший етап досліджень.Розробка стратегічних маркетингових принципівповинна ґрунтуватися на системному підході, щовідповідає дотриманню об’єктивних економічнихзаконів, передусім попиту і пропозиції та тенден-цій розвитку об’єкта планування. Маркетинговістратегії конкретизуються шляхом визначенняпринципів поведінки всіх учасників ринку тавстановлення генеральної лінії діяльностіпідприємства. The theoretical aspects of the marketing strategies development andtheir improvement on the basis of rational approaches, the possiblecombinations of implementation and experience of their realizationat modern agro-industrial enterprises in Ukraine are considered.Formation of the marketing strategy is a significant and complexstage of research. Development of strategic marketing principlesshould be based on the system approach that meets the complianceof the objective economic laws, especially the supply and demandtrends, and the object of planning. Marketing strategies arespecified by defining the principles of behavior of all marketparticipants and the establishment of the general line of thecompany.

scholarly journals Research on Electric-Vehicle Switching Scheduling and Charging Strategy of Charging Stations

2021 ◽  
Vol 292 ◽  
pp. 01031
Author(s):  
Yuxing Li ◽  
Hao Wu ◽  
Yu Shi ◽  
Hao Li ◽  
Xuefeng Gao ◽  
...  
Keyword(s):  
Mathematical Model ◽  
Game Theory ◽  
Decision Making ◽  
Electric Vehicle ◽  
Spatial Characteristics ◽  
Power Exchange ◽  
The Game Theory ◽  
Charging Stations ◽  
Charging Strategy

In order to effectively alleviate the congestion of power exchange stations, the game theory was used to discuss the spatial characteristics of electric vehicle power exchange demand, analyze the decision making and game process of electric vehicle users specifically. Moreover, on the basis of the research, the specific way of setting the price of the exchange station was proposed and the game mathematical model was constructed.

scholarly journals APLIKASI TEORI PERMAINAN DALAM PENENTUAN STRATEGI PEMASARAN PROGRAM STUDI TEKNIK INFORMATIKA DAN TEKNIK INDUSTRI

2021 ◽  
Vol 10 (2) ◽  
pp. 131
Author(s):  
DIYAH WIJAYATI ◽  
EDI SUPRIYADI
Keyword(s):  
Game Theory ◽  
Marketing Strategy ◽  
Mixed Strategy ◽  
Marketing Strategies ◽  
Industrial Engineering ◽  
Linear Programming Method ◽  
Study Program ◽  
Engineering Study ◽  
Result Show ◽  
Tuition Fee

Competition in the world of education especially the highest level of education, is getting tougher in obtaining student. So that, needed to analyze the study program’s marketing strategies in facing this competition. The aim of this research is making decision to determine the optimal strategy of the study program using game theory which is solved by the linear programming method. The data in this study obtained from the Informatics and Industrial Engineering study program at Sekolah Tinggi Teknologi Bandung. From application game theory, it is recommended that game with mixed strategy is an appropriate one. Result show that the optimal marketing strategy for Informatics Engineering study program is number of graduation strategy, tuition fee strategy, and number of lecturer strategy. While the optimal marketing strategy for Industrial Engineering study program is tuition fee strategy, popularity strategy, and number of graduation strategy.

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