Locking in customers and suppliers to your company's product or service is an example of:
A) competitive advantage.
B) switching costs.
C) product differentiation.
D) establishing alliance.

Question

Quizplus · Accepted Answer

Switching costs refer to the costs that a customer incurs as a result of changing brands, suppliers, or products, which can lock them into using a particular company's product or service.

Locking in Customers and Suppliers to Your Company's Product or Service