Application of Game Theory in Determining the Optimum Marketing Mix Strategy in Banking Companies

Abstract

Game theory is a mathematical model used in situations of conflict or competition between various interests that face each other as competitors. The goal is to find the optimal strategy for each player. One of the strategies used is the Marketing Mix Strategy. The marketing mix strategy consists of product, price, promotion, place / distribution channel, process and service, and customer service. The banking companies selected as case studies in this research are Bank Mandiri and BNI. In this research, game theory is used to analyze the competitive strategy of the bank's marketing mix. The aim is to obtain the optimal marketing mix strategy for each bank.