Which of the following strategies is also called establishing high switching costs?
A) increasing production
B) locking in suppliers
C) reducing costs
D) locking in customers

Question

Quizplus · Accepted Answer

Locking in customers is also known as establishing high switching costs. This means that customers will have a harder time switching to a competitor because the investment required to switch would be too great. This can be done through loyalty programs, contracts, or other tactics that build a strong relationship with the customer. Increasing production, locking in suppliers, and reducing costs are all strategies that may help a company become more competitive, but they are not directly related to establishing high switching costs.

Which of the Following Strategies Is Also Called Establishing High