Marketers frequently use to try to estimate likely results of various actions, most frequently price cuts and competitive response.
A) strategies
B) promotions
C) competition
D) game theory

Question

Quizplus · Accepted Answer

Game theory is a mathematical approach to predicting outcomes in situations where multiple players or stakeholders are involved. Marketers can use game theory to model the potential reactions of competitors to pricing strategies and determine the best course of action to take.

Marketers Frequently Use to Try to Estimate Likely Results of Various