_____ are costs that a customer faces by buying a product that is different from what has been purchased or used in the past.
A) Marginal costs
B) First-mover costs
C) Switching costs
D) Pioneering costs
E) Opportunity costs

Question

Quizplus · Accepted Answer

Switching costs refer to the costs that a customer has to face when switching to a new product or service. These costs can be financial, such as the cost of buying new equipment or software, or psychological, such as the cost of learning a new system or process. Switching costs are an important consideration for businesses because they can create a barrier to entry for new competitors, and can also create customer loyalty and retention.

_____ Are Costs That a Customer Faces by Buying a Product