The Matrix of Transition Probabilities Below Deals with Brand Loyalty

question 46

Essay

The matrix of transition probabilities below deals with brand loyalty to Bark Bits and Canine Chow dog food. ​
a.What are the steady state probabilities?
b.What is the probability that a customer will switch brands on the next purchase after a large number of periods?

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Definitions:

Repair The Relationship

The process of mending or restoring a damaged or strained relationship through communication, understanding, and reconciliation.

Claims

Assertions or demands for something as due or belonging to one, often in reference to products or services in business contexts.

Adjustment Requests

Requests made to modify or amend a particular element or component, often seen in business or operational contexts.

Recommendation Letters

Written endorsements of an individual's character, abilities, and potential, usually for purposes of employment or admission.