Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing a…

Customers tend to exhibit loyalty to product brands but may be persuaded through clever marketing and advertising to switch brands. Consider the case of five brands: 4, B. C D and E Customers quot; unyielding #x27; loyalty to a given brand is estimated to switch the other brands with the probabilities given in the following transition matrix 0.13 0.12 0.14 0.15 0.14 0.14 0.27 0.13 0.16 0.28 0.17 0.17 0.22 0.14 0.29 0.28 0.31 0.27 0.24 0.25 0.25 0.16 0.24 0.14 0.21 How long on the average Will it take for a brand B customer to switch to brand .4? 69 Leave blank;

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