Prisoner’s Dilemma applied to the subscription of JIO
Let us take this imaginary case. Let us consider an adult who needs medical attention. When the adult has elevated blood pressure and elevated cholesterol due to obesity, and the patient visits a doctor, the doctor has two choices. How can the prisoner’s dilemma be applied to the medical consultation?
The doctor diagnoses obesity as a big factor. The patient takes medicine for a few days and suffers from a sudden vomiting from the medicine. He revisits the doctor, and requests for a change of medicine. The doctor realizes the importance of the change of medicine, and he is willing to co-operate with the views of the patient owing to his own expertise. At the same time, he is reluctant to accept the type of medicine that the patient wants. We can draw a prisoner’s dilemma on this confrontation on the type of medicine and cost. Based on this situation, there are four options to take care of.
|Prisoner’s Dilemma||Patient Accepts Advice||Patient Rejects Advice|
|Doctor Accepts Advice||1,1||1,0|
|Doctor Rejects Advice||0, 1||-1, -1|
The doctor rejects the proposition for a new medicine, while the patient rejects the idea of a continuing the old medicine. This is based on the game theory, with the best co-operation being the acceptance of the doctor’s advice for the best.
Such a expertise can also be applied to the subscription rate of Jio Prime versus Jio Regular.
|Prisoner’s Dilemma||Jio Regular 309 Plan||Jio Prime 999 Plan|
|Customer Accepts Plan||1,1||1,0|
|Customer Rejects Plan||0, 1||0, 0|
The customer does the arbitration here. What could be the possible take-away of JIO Regular versus JIO Prime subscription based on profit booking?
The acceptance depends on the cost and formula pricing. Can the Jio regular accept a pricing structure that can cause a differential pricing formula varying with offers–
Similarly, can these be the pricing structure of JIO Prime-
What can be the structure of the JIO prime pricing formula? How can the profits trade-off against each other? How can profits be segmented from one another? What is the subscription cost for the pricing plan? What could be the minimum threshold for the subscription of Jio? What is the difference between Jio-Regular and Jio-Prime other than cost factors? What could be the benefits between these two subscriptions? Can Jio answer!