There are two competing brands of toothpastes in a market. The brands are colget and Akuafresh. A survey was undertaken to determine the extent customers switch over from one brand to another every quarter. The survey has identified that every quarter 1/3 of 45% of customers of Akuafresh in the previous quarter continue to purchase Akuafresh. And ¾ of 60% customers of colget in the previous quarter become customers of Akuafresh. Moreover, it was identified that the two brands have a constant customers of 10,000 and no one stops purchasing one or the other brand. Currently the number of customers of colget are 6000 persons. Required: a. What will be the number of customers of colget and Akuafresh after two transitions? b. Find the steady state market share.
