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?
Definitions:
Social Support System
A network of family, friends, and peers that offer emotional, informational, and practical assistance to individuals.
Stressors
Events that cause a stress reaction.
Separation
The process or state of being apart from someone or something; in psychology, it can refer to emotional detachment or physical distance between individuals.
Majority Culture
The dominant cultural practices, beliefs, and values of the larger or ruling group in a given society.
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