Food Delivery Company Market Share Model
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Abstract
The objective of this research is to present mathematical modeling of the market share of food delivery companies using a system of a difference equation. It starts from studying the analytical model in Markov chain form and then converts it into a system of a difference equation. To determine the parameters of the model, 121 students were randomly assigned to answer a questionnaire on service return and service satisfaction of each company. Both of these data are considered when calculating the parameters of the model. A python program was used to calculate the model's solution to analyze the long-term market share behavior of a food delivery company. According to the terms of the market share, 3 different conditions, it was found that over the long term, the market share will converge to the same constant ratio in all three cases. The result will be mathematical information that is useful for food delivery companies to be prepared to manage both in terms of market and service.
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