Locking in customers by making it difficult or expensive for customers to move to another product is called establishing high ________.
A) entry barriers
B) switching costs
C) product standards
D) value differentiation

Question

Quizplus · Accepted Answer

Switching costs refer to the costs or inconveniences associated with switching from one product or brand to another. Companies can establish high switching costs by offering loyalty programs, contracts, or bundling products together. This strategy can help lock in customers and make it less likely for them to switch to a competitor's product.

Locking in Customers by Making It Difficult or Expensive for Customers