Barbeque Parts
A town has three barbeque-chicken resturant. In the past year, UltaChicken lost 20% of its customers to Churra
A town has three barbeque-chicken resturant. In the past year, UltaChicken lost 20% of its customers to Churrasqueira Champoin and 15% to Mac’s Chicken, Churrasqueria Champion lost 10% of its customers to each of its two competitors, and Mac’s Chicken lost 25% of its customers to UltraChicken and 30% to Churrasquiera Champion.
a) Predict the long-term market share for each of these three resturants.
b) What assumptions must you make for your solution to part a)?
Please be specific.
Thank You
I put these percentages into a spreadsheet and had them continue to trade customers using the same percentages year after year.
Part b):
Long term always came up with the exact same percentages with the following three assumptions:
1) EVERY year the restaurants lose the same percentages of their customers to the other restaurants,
2) None of them go out of business
3) No 4th competitor enters the market
Part a)
UltraChicken will end up with 28.07% of the market
Churrasqueira Champion will end up with 54.39% of the market
Mac’s Chicken will end up with 17.54% of the market
By the way, no matter what percent of the market they begin with, they will be within 1% of my answers after 10 years.
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