Answered step by step
Verified Expert Solution
Question
1 Approved Answer
GTT's expected market share is _% (round to the nearest tenth as needed) NCJ's expected market share is _% (round to the nearest tenth as
GTT's expected market share is _% (round to the nearest tenth as needed)
NCJ's expected market share is _% (round to the nearest tenth as needed)
Dash's expected market share is _% (round to the nearest tenth as needed)
Consumers in a certain state can choose between three long-distance telephone services: GTT, NCJ, and Dash. Aggressive marketing by all three companies results in continual shift of customers among the three services. Each year, GTT loses 20% of its customers to NCJ and 10% to Dash, NCJ loses 5% of its customers to GTT and 20% to Dash, and Dash loses 15% of its customers to GTT and 20% 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? Consumers in a certain state can choose between three long-distance telephone services: GTT, NCJ, and Dash. Aggressive marketing by all three companies results in continual shift of customers among the three services. Each year, GTT loses 20% of its customers to NCJ and 10% to Dash, NCJ loses 5% of its customers to GTT and 20% to Dash, and Dash loses 15% of its customers to GTT and 20% 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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started