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    Game Theory

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    Game Theory

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    aditya kumar
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    This slide consists of Game Theory and what it is. Where to apply game theory and what benefit it gives to the organization who adapt to the process of Game Theory.

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    This slide consists of Game Theory and what it is. Where to apply game theory and what benefit it gives to the organization who adapt to the process of Game Theory.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    41 views10 pages

    Game Theory

    Uploaded by

    aditya kumar
    This slide consists of Game Theory and what it is. Where to apply game theory and what benefit it gives to the organization who adapt to the process of Game Theory.

    Copyright:

    © All Rights Reserved
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    A PRESENTATION ON GAME THEORY

    Presented By,
    Aditya Kumar (17002)
    WHAT IS A GAME THEORY?

    Game theory is the study of how people behave in strategic situations.


    Strategic decisions are those in which each person, in deciding what actions to
    take, must consider how others might respond to that action.
    What is a Game
    A game is a situation where the participants’ payoffs depend not only on their
    decisions, but also on their rivals’ decisions.
    This is called Strategic Interactions:
    My optimal decisions will depend on what others do in the game.
    A GAME

    Four elements to describe a game:


    players;
    rules: when each player moves, what are the possible moves,
    what is known to each player before moving;
    outcomes of the moves;
    payoffs of each possible outcome: how much money each player
    receive for any specific outcome.
    COCA- COLA’S AND PEPSI ADVERTISING BUDGET: THE
    PRISONERS’ DILEMMA

    Small advertising Big advertising


    Budget budget In each
    cell the
    Small advertising lower-
    left
    Budget 10 15 number
    is the
    PEPSI payoff to
    10 -2 pepsi; the
    upper
    Big advertising right the
    budget -2 4 payoff to
    coke

    15 4
    IS GAME THEORY USEFUL?
    COMPETITOR ANALYSIS AND COMPETITIVE INTELLIGENCE

    Competitor Analysis : - Identifying the competitors and evaluating their strategies


    to determine their strengths and weaknesses relating to those of their own product or
    service .
    Steps in Analyzing competitor
    Identifying Assessing Selecting
    .

    .
    competitors
    the objective, which
    company’s strategies, competitors
    strengths and
    competitor to attack or
    weaknesses and
    reaction avoid
    patterns.
    COMPETITOR ANALYSIS AND COMPETITIVE INTELLIGENCE
    • Competitive Intelligence :- Competitive intelligence involves the systematic
    collection and analysis of information about rivals for informing decision making.
    Competitive Intelligence has three main purpose

    To determine how
    To forecast To predict
    competitors’
    competitors’ future competitors’ likely
    behavior can be
    strategies and reactions to a firm’s
    influenced to make
    decisions. strategic initiatives
    it more favorable.

    •
    COMPETITOR ANALYSIS AND COMPETITIVE INTELLIGENCE

    • A Framework for predicting competitor behavior :- Competitive


    intelligence is not simply about collecting information. The problem is likely to be
    too much rather than too little information. The key is the systematic approach that
    makes it clear what information is required and for what purpose it will be used.
    Michael porter proposes a four part framework for predicting competitor behavior

    Competitor’s current strategy

    Competitor’s Objective

    Competitor’s assumption about the industry

    • Competitor’s resources and capabilities


    COMPETITOR ANALYSIS AND COMPETITIVE INTELLIGENCE
    A framework for competitor analysis
    STRATEGY
    How is the firm competing?
    • OBJECTIVE
    PREDICTIONS
    • What are competitor’s current goals?
    • Is performance meeting these goals? What strategy changes will
    the competitor initiate?
    • How are its goal likely to change?
    ASSUMPTIONS How will the competitor
    respond to our strategic
    What assumptions does the competitor hold about the industry and initiatives?
    itself?

    • RESOURCES AND CAPABILITIES


    • What are the competitor’s key strengths and weaknesses?

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