Consumers can choose between three long distance telephone services: GTT, NCJ, and Dash. Aggressive marketing by all
Question:
Consumers can choose between three long distance telephone services: GTT, NCJ, and Dash. Aggressive marketing by all three companies results in a continual shift of customers among the three services. Each year, GTT loses 5% of its customers to NCJ and 20% to Dash, NCJ loses 15% of its customers to GTT and 10% to Dash, and Dash loses 5% of its customers to GTT and 10% to NCJ. Assuming that these percentages remain valid over a long period of time, what is each company’s expected market share in the long run?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
Question Posted: