Difference between revisions of "Switching costs"
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(Created page with "'''Switching costs''' (or barriers) is a term used in pricing, strategic management, and marketing to describe any impediment to a customer changing suppliers. [[Category:Conc...") |
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| − | '''Switching costs''' (or barriers) | + | '''Switching costs''' (or barriers) refers to any product-specific psychological or financial investment that a customer makes in a firm’s product that they have purchased in the past which reduces their willingness to select an alternative firm’s products. |
[[Category:Concept]] | [[Category:Concept]] | ||
Latest revision as of 10:29, 10 January 2013
Switching costs (or barriers) refers to any product-specific psychological or financial investment that a customer makes in a firm’s product that they have purchased in the past which reduces their willingness to select an alternative firm’s products.