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Concept explainers
Competition As was mentioned earlier, OHaganBooks.com has two main competitors—JungleBooks.com and FarmerBooks.com—and no other competitors of any significance. Exercises 55–58 are based on the following table, which shows the movement of customers during July.94 (Thus, for instance, the first row tells us that 80% of OHaganBooks.com’s customers remained loyal, 10% of them went to JungleBooks.com, and the remaining 10% went to FarmerBooks.com.)
To | ||||
From | OHaganBooks | JungleBooks | FarmerBooks | |
OHaganBooks | 80% | 10% | 10% | |
JungleBooks | 40% | 60% | 0% | |
FarmerBooks | 20% | 0% | 80% |
At the beginning of July, OHaganBooks.com had an estimated market share of one fifth of all customers, while its two competitors had two fifths each.
Estimate the market shares each company had at the end of July.
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Chapter 7 Solutions
Bundle: Finite Mathematics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Waner/Costenoble's Finite Mathematics, 7th Edition, Single-Term
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