One way to lock in buyers in a free market is to create a situation in which customers fear high switching costs.

Name: One way to lock in buyers in a free market is to create a situation in which customers fear high switching costs.
Brand: Quizplus
Rating: 5.0 (36 reviews)

Question

Quizplus · Accepted Answer

High switching costs can create a barrier for customers to switch to a competitor's product or service, therefore making it more difficult for them to leave the original provider. This can lead to a form of lock-in or customer captivity.

One Way to Lock in Buyers in a Free Market