Abstract:

Markov chains is an operations research technique that has the possibility of being applied in social sciences disciplines such as management and economics as well as in positive sciences such as biology, physchics and chemistry. This technnique provides the decision makers with the determining of behavior changes that are likely to ocur in a system’s current characteristics by utilizing matrix algebra and probability laws. Fort his purpose, how markov chains can be used, in forecasting the market shares in cases where there are so many rival brands in the market, will be tried to be shown. Hence, the applicability of an efficient technique in market share researches will be shown

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