Question

switching costs refer to the
a) onetime coasts customers incur when buying from a different supplier.
b) onetime costs supplier incur when selling to a different customer
c)cost to a producer to exchange equipment in a facility when new technology emerge
d)cost of changing the firm's stretegic group​

Answer 1

Explanation:

switching costs refer to the

a) onetime coasts customers incur when buying from a different supplier.

Answer 2

Switching costs refer to the one-time costs customers incur when buying from a different supplier. Option(A) is the correct answer.

• Costs associated with switching brands, suppliers, or products are known as switching costs.
• There are psychological, effort-based, and time-based switching costs in addition to the more common monetary switching costs.
• High switching costs and low switching costs are two different categories of switching expenses.
• To keep customers from switching to a different brand, businesses try to use high switching costs.
• High switching costs are a strategy used by businesses with hard-to-perfect products and little competition to increase profits.
• Some businesses that are unable to charge higher switching fees will guarantee lengthy wait times and product delays in order to retain their customer base.

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