Mathematics, 25.06.2021 19:10 colochaortiz20p7cajw

SLUIT 5. There are two competing brands of toothpastes in a market. The brands are colget and Akuafresh. A survey was undertaken to determine the extent customers switch over from one brand to another every quarter. The survey has identified that every quarter 1/3 of 45% of customers of Akuafresh in the previous quarter continue to purchase Akuafresh. And % of 60% customers of colget in the previous quarter become customers of Akuafresh. Moreover, it was identified that the two brands have a constant customers of 10,000 and no one stops purchasing one or the other brand. Currently the numbers of customers of colget are 6000 persons. (2Pts) Required: a. What will be the number of customers of colget and Akuafresh after two transitions? (1 Pts) b. Find the steady state market share. (1 Pts)

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