Mathematics, 19.03.2021 03:10 kenna162

a) Suppose brands A and B have consumer loyalties of .7 and .8, meaning that a customer who buys A one week will with probability .7 buy it again the next week, or try the other brand with .3. What is the limiting market share for each of these products? (b) Suppose now there is a third brand with loyalty .9, and that a consumer who changes brands picks one of the other two at random. What is the new limiting market share for these three products?

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a) Suppose brands A and B have consumer loyalties of .7 and .8, meaning that a customer who buys A o...