External Analysis of Strategic Market Management Based on Markov Property, Risk Modeling, Failure Rate and Chi-Square Distribution – A Statistical Approach

Abstract

The paper highlights a novel approach of augmentation of features of an existing product in the light of Markov property. It is also evident that , the predicted quantified estimate of submarket growth lacks proper co-ordination between present estimate with past one and present estimate with future event and this has been justified using Abelian property. Mathematical interpretations of strategic market analysis based on risk modeling , failure rate and chi-square distribution have also been cited in this research work.