Question

Topic: Student Questions

Gurus:apply Game Theory To Marketing

Posted by Anonymous on 8/13/2004 at 11:29 AM ET 50 Points
OK marketing gurus heres a question:How would you apply game theory to marketing?

Lets say your in the business of selling laudry detergent even though P&G pretty much has that locked up.How would you apply Game Theory to compete with P&G and it's competitors?What strategies would you use?Product strategies?Distribution and pricing strategies?Channel strategies?How would you apply game theory to increase market share?

I just thought I'd spice the board up with a challaging question to test your skills.
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by Blaine Wilkerson on 8/13/2004 at 3:09 PM Member
    I would ask a question in a marketing forum under the guise of a student/curious individual, gather the replies, and assess the answers in order to develop the most effective strategy. ;)
  • Posted by SRyan ;] on 8/13/2004 at 6:01 PM Member
    How would I apply Game Theory to marketing?

    I guess I would CHEAT.
  • Posted by Blaine Wilkerson on 8/13/2004 at 6:58 PM Accepted
    OK..A real answer (from me at least):

    I would utilize a strong branding campaign coupled with pricing,distribution, and channelling. Basically, a morph of everything.

    To start I would determine the quality of my brand, brand image, and entitiy. Compare it to the current pricing of the competition and if possible, price just below the top brands, but have the same or better quality, and blast brand awareness with so much hype that people just HAVE to see how well they like it.

    A "cool" package doesn't seem to matter all that much, but it should be implemented. I say this due to the packaging and logos of econo-brands. they are just as attractive as the P&G brands, cost half as much, but still struggle to compete. Why? I believe it is a price perception. People want the most for their money with a soap that WORKS. That's why I mention quality.

    So, in summary: cool logo, ATL and BTL ad blasting, sligtly more quantity (volume per container), slightly cheaper price, and establish a channel into the top of the mainstream retail stores. Go in strong and nudge your way in.

    Alternate route: go for cheap and conquer the dollar store market.

    hope that helps!
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Student Questions)