1a. You are a competing firm are the only sellers of a new product. You both rea

Question

1a. You are a competing firm are the only sellers of a new product. You both realize that the one who captures most of the market share will be the one that spends the most on advertising and promotions. You have $1 million for advertising and promotion for all your products. You have to decide how much of your budget should be allocated to the marketing of the new product. Construct a payout matrix like the one shown in figure 11.3. Notice in figure 11.3 that the price is the variable designated as being

Explanation / Answer

my ad budget =1 million the challenge will be allocating the budget accordingly to the different products which will yield the maximum market share in layman terms the challenge is to get maximum profit by altering the amount u spend on different products on advertising and on an whole earning the maximum profit out of it this allocation among different products based on their performance is difficult cheers :)

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