Firms use teaser strategies to capture new customers and lock-in strategies to retain existing customers.

Name: Firms use teaser strategies to capture new customers and lock-in strategies to retain existing customers.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Teaser strategies are used to attract new customers by offering introductory deals, while lock-in strategies are designed to retain existing customers by creating barriers to switching to competitors, such as loyalty programs or long-term contracts.

Firms Use Teaser Strategies to Capture New Customers and Lock-In