3 Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing and advertising to switch brands. Consider the case of five brands: A, B, C, D and E. Customers "unyielding" loyalty to a given brand is estimated to switch the other brands with the probabilities given in the following transition matrix. E 0.13 B 0.2 A 0.32 0.16 0.27 0.25 0.23 B 0.22 0.14 0.17 0.21 0.14 0.15 0.24 0.23 0.28 0.16 D 0.18 0.26 0.17 0.14 0.2 D 0.16 0.12 0.27 E In the long run, how much market share will brand B command? a) b) 24.00% 20.00% 22.00% 18.00% Leave blank 3 Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing and advertising to switch brands. Consider the case of five brands: A, B, C, D and E. Customers "unyielding" loyalty to a given brand is estimated to switch the other brands with the probabilities given in the following transition matrix. E 0.13 B 0.2 A 0.32 0.16 0.27 0.25 0.23 B 0.22 0.14 0.17 0.21 0.14 0.15 0.24 0.23 0.28 0.16 D 0.18 0.26 0.17 0.14 0.2 D 0.16 0.12 0.27 E In the long run, how much market share will brand B command? a) b) 24.00% 20.00% 22.00% 18.00% Leave blank