A Mobile Phone is analyzing brand switching between three different brands of smart phones Survey data has been gathered and has been used to estimate the following transition matrix for the probability of moving between brands each month From To Nokia Samsung iPhone Nokia 0 70 0 20 0 10 Samsung 0 03 0 85 0 12 iPhone 0 20 0 05 0 75 Given that the current month's market shares are 35 , 25 and 40 for the brands Nokia, Samsung and iPone respectively Calculate the expected market share after two months have elapsed Find the steady state market share for each of the three brands

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Question: A Mobile Phone is analyzing brand switching between three different brands of smart phones. Survey data has been gathered and has been used to estimate

A Mobile Phone is analyzing brand switching between three different brands of smart phones. Survey data has been gathered and has been used to estimate the following transition matrix for the probability of moving between brands each month:

From/To	Nokia	Samsung	iPhone
Nokia	0.70	0.20	0.10
Samsung	0.03	0.85	0.12
iPhone	0.20	0.05	0.75

Given that the current month's market shares are 35%, 25% and 40% for the brands Nokia, Samsung and iPone respectively:

Calculate the expected market share after two months have elapsed
Find the steady state market share for each of the three brands

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