Strategic Management in Marketing: A Game Theoretic Approach
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Abstract
In marketing, a real-world dilemma emerging between two rivals, McDonald's and Burger King, is investigated. Both firms use three strategies: discounted pricing, status quo, and aggressive commercial. In such cases, ambiguity is a determining factor. To deal with confusion in payoffs, octagonal fuzzy numbers are used. To rank fuzzy numbers, the average of odd positions, average of even positions, and quartile deviations are used. To solve the reduced modelled two competitors zero sum fuzzy matrix games, the proposed ranking methods are used. Finally, the findings are compared to current approaches that are quite similar to the proposed approach.
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