(Table: Two Rival Gas Stations) Look at the Table Two

question 39

Multiple Choice

(Table: Two Rival Gas Stations) Look at the table Two Rival Gas Stations.Swifty Gas and Speedy Gas are the only two gas stations in a small town.Each firm can set either a high price or a low price, and customers view these two firms as nearly perfect substitutes.The table shows the payoff matrix of daily profits that each firm would receive from its pricing decision, given the pricing decision of its rival.Profits in each cell of the payoff matrix are given as (Swifty, Speedy) .If each firm sets the price independently, the Nash equilibrium outcome will be:

• A)$100, $100.
• B)$150, $25.
• C)$25, $150.
• D)$50, $50.

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Definitions:

Geographic Segmentation

The division of a market into different geographical units such as nations, states, regions, cities, or neighborhoods.

Geodemographic Segmentation

A marketing technique that clusters potential customers into groups based on geographical location and demographic characteristics.

Lifestyle Segmentation

A marketing approach that divides the market into groups based on consumer lifestyles, behaviors, and preferences.

Macromarketing

Refers to the study of the marketing processes, systems, and impacts at the societal level, often considering the interaction between markets, society, and the environment.