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| Author: | Griffith, D. Rust, R. |
| Title: | Effectiveness of some simple pricing strategies under varying expectations of competitor behavior |
| Journal: | Marketing Letters
1993 : APR, VOL. 4:2, p. 113-126 |
| Index terms: | PRICING GAME THEORY COMPETITION |
| Language: | eng |
| Abstract: | A firm needs to tailor its pricing strategy to the particular competitive setting it faces. The authors show how a firm can select a pricing strategy that yields higher expected profit than other simple pricing strategies for the competitive conditions encountered. The authors show that no one strategy yields the highest expected profit for all competitive settings. The results suggest how to choose the pricing strategy that yields the highest expected profit given the likely behavior of a firm's competitors. |
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