The Entropy Concept and the Hendry Partitioning Approach (Classic Reprint)

The Entropy Concept and the Hendry Partitioning Approach (Classic Reprint)

by Manohar U Kalwani

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Overview

Excerpt from The Entropy Concept and the Hendry Partitioning Approach

The Hendry partitioning approach provides an understanding of the direct versus indirect competition a product faces. In the Hendry model, two alterna tires are assumed to be in direct competition if the switching to (and between) them from any other alternative is in direct preportion to their shares. Let X and Y be dry bleach brands, with brand X having twice the share of brand Y. Furthermore, suppose that switchers from brand 2, whether liquid or dry bleach purchasers, are twice as likely to choose X as to choose Y. Then, brands X and Y are said to be in direct competition. If, on the other hand, X is a dry bleach and Y is a liquid bleach and they are not in direct competition, the switchers are no longer apt to switch to them in proportion to their shares. Paraphrasing Butler (1975) Product alternatives are in direct competition if the switching to (and between) them is in proportion to their shares.

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Product Details

ISBN-13: 9781334296871
Publisher: Fb&c Ltd
Publication date: 09/08/2018
Pages: 38
Product dimensions: 5.98(w) x 9.02(h) x 0.08(d)

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