Relevant theories use in CESIM simulation program Essay

Relevant theories use in CESIM simulation program - Essay Example This research will begin with the statement that among the marketing theories applicable to marketing the brand of mobile phones includes the game theory, signaling, and innovation theories among many others. Just as the name suggests, game theory analyses the position and effects of competition on the success and profitability of a brand. The theory asserts that a business must strive to achieve the best and most preferred outcomes despite the competition. Marketers must, therefore, observe the behaviors and product features of their competitors in order to develop appropriate brands to counter such. Signaling just as with the game theory advises marketers to observe the actions of the competition, this way it becomes possible for the marketer to position his product strategically. Innovation theory, on the other hand, requires marketers to develop creative products in order to influence the reception of the brand in the market. Marketing a mobile phone requires marketers to conside r the theories thereby positioning the product strategically. Besides the marketing theories, marketers must employ several other strategies to enhance the positioning of the product in order to enhance productivity as the discussion below portrays. Marketing is a fundamental management function whose primary objective is to determine, anticipate, and satisfy the market demand. By doing this, the marketing team meets the current demand while influencing effective production in view of increasing its market share.