Using Mathematical Framework to Nudge the Customers

Sandeep Bhasin () and Bhawna Kumar
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Sandeep Bhasin: Amity University
Bhawna Kumar: RBEF (Amity Education Group)

A chapter in Entrepreneurial Innovation, 2022, pp 63-70 from Springer

Abstract: Abstract Using Coopetition-base strategy to ensure better sustainability over a longer period of time has been a game that large corporates have excelled. The game with a perfect mix of co-operation and competition leads to creation of markets dominated by a small group of players which may result in entry barriers for new players thus helping monopolistic leaders in any given market. The purpose of this study is to develop a conceptual framework of effects of competitive and collaborative elements of the strategy on the consumer behavior. In the first part of the paper, we identify the collaborative and competitive elements of the relationship of marketers in a defined market. In the second part of the paper we identify the impact of Nudging strategies on consumer-buyer behaviour. Finally, covering the theoretical and practical implication of Nudging in a Co-opetition based scenario, we build a proposed mathematical framework that an organization can use to gain market share in the marketspace.

Keywords: Nudge; Co-opetition; Customers; Entrepreneurs; Customer experience (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:seschp:978-981-16-4795-6_6

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DOI: 10.1007/978-981-16-4795-6_6

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