The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms).Table 12.2

-Consumer loyalty tends to be very low in markets such as cola drinks and tobacco products.

Question

The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms).Table 12.2
 
-Consumer loyalty tends to be very low in markets such as cola drinks and tobacco products.

Quizplus · Accepted Answer

Consumer loyalty in markets such as cola drinks and tobacco products tends to be very high, as consumers often develop strong preferences for specific brands.

The Table Below Shows the Payoff (Profit) Matrix of Firm