Sequential game theory of unilever marketing essay

Introduction In this synchronized business environment, every company is constantly trying to modify their infrastructural business operation through affordable strategic components. Marketing strategy is the essential components to be applied within the business principles for creating strong customer relationship and value.

Sequential game theory of unilever marketing essay

Marketing Domino's Pizza has been known as one of the leading pizza brands in the whole world. Now in its 25 years of existence, it already has stores in britain and the Republic of Ireland. One of the reasons for Domino's Pizza's successes is its loyal customers. Through their different customer retention programs, this leading pizza chain has been able to prove that indeed customer is the key to a successful business.

A lot of businesses are striving these days. Because of the challenging economy and extreme competitive market, a lot of companies have been racking your brains on how in which to stay business. Customer retention and loyalty is one of the strategies that companies are actually utilizing to earn more profit.

Studies have shown that keeping one existing customer is five to seven times more profitable than finding one new customer. Also, customer profitability rate usually increases in a retained customer Kotelnikov, Hence, it is important to retain loyal customers for a business to continue earning.

Knowing customers' satisfaction rating is not the reliable way to ensure that customers should come back. There are many instances a customer is satisfied with something but will easily buy a competitor brand. This proves that there is no significant proof that client satisfaction is the same as repeat purchases Griffin, What companies should focus on is not merely customer satisfaction but customer loyalty.

Customer loyalty is an idea which is geared more towards behavior rather than attitude. A loyal customer, won't randomly buy a product, but will be biased in purchasing the product she is loyal of. It'll be the hobby of the loyal customer to keep purchasing the product of her choice frequently and she will also recommend this product to her family and peers.

A thought under customer loyalty is customer retention. This is the length of relationship of a customer buys a certain service or product over a time frame Griffin, A company can retain customers when their customers know that they are buying value.

Customers always want superior service plus they want to be assured that all their needs will be fulfilled through buying a certain product. Value is established when a company is able to fulfill these needs and present the client excellent service.

By giving customers a great experience, improved financial performance plus more loyal customers will definitely follow. A ripple effect is surely to occur whenever a company has loyal customers. Several economical effects will surely benefit the business. Through repeat buyers, revenues and markets will grow.

With sustainable growth, a business will be able to establish its business and retain the best employees. These employees then will be motivated and begin caring for the business.

They will be enthusiastic about cutting costs and enhancing the grade of products which increases customer value and productivity. When productivity and loyal customers increases, it'll be hard for other brands to compete with business. Through these chains of events, it might clearly be observed that retaining loyal customers is the key to a successful business.

Because of this huge gain, companies should attract and keep customers who are inherently more loyal as they prefer long-term relationships, profitable customers they spend more and pay their bills on time and customers who value your product because they think it is better than other competitors.

Reichheld, It isn't easy to attract customers these days. Simple marketing and sales information is insufficient to persuade customers to buy a certain product. Customers now want to be in control and receive the marketing information that they want, when they want it and on their own purchasing terms.

Technology is currently also being used to nurture customer relationships. Websites call centers, social networking sites and short messaging services are are just some of the unique and innovative ways of interacting with a customer Griffin, Customer data is now able to be stored in databases of computers which not only show the customer's name and address but also more personal information of every customer such as birthdays.

Through knowing more about the customer, they companies are able to establish a romantic connection with their clientele that hones customer loyalty. This technique is generally known as "mass customization". Domino's Pizza, the number one pizza delivery company in the UK, has used this tactic which includes given their profit a large boost.

Domino's Pizza was started by two brothers, Tom and James Monaghan.arabasi hayvan gibi bise olsun ve 15litre yakiyor diyelim km de. benzini de tl desek asagi yukari 80 lira eder. tl yakmasi icin km yapmasi lazim. ki hanim abla tl yetmez diyor. demekki km yol yapiyor ayda. cok buyuk ihtimalle korsan taksi kendisi.

arkadaşi alalim lutfen. Game Theory Revision Using Ideas from Game Theory in your A Level Economics Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising.

Sequential game theory of unilever marketing essay

If you continue browsing the . This game is both simultaneous and sequential, because during development, both companies wouldn’t know what each other is building towards to, using which specifications for their model. However, around a year before launch, due to promotional issues, they started to slowly unveil features and pictures of their product.

arabasi hayvan gibi bise olsun ve 15litre yakiyor diyelim km de. benzini de tl desek asagi yukari 80 lira eder. tl yakmasi icin km yapmasi lazim. ki hanim abla tl yetmez diyor. demekki km yol yapiyor ayda.

cok buyuk ihtimalle korsan taksi kendisi. arkadaşi alalim lutfen. Then you can try to set up the game. If it is best designed as a sequential move game, do it this way. If it is simultaneous move, do it that way.

Then use the tools of game theory to solve the Nash EQ.

Sequential game theory of unilever marketing essay

You could do some variations on the game as well like say what if we now made the game that was simultaneous into a sequential game (or vice versa). Game theory has recently been recognized as a powerful tool to model interactions among artificial agents.

Game theorists, however, have never tried to explicitly model how players reason to a solution. This becomes a crucial flaw whenever one attempts to apply game theoretic solutions to multi-agents systems.