Question

______ costs are costs that make customers reluctant to switch to another product or service. Multiple choice question. Production Supplier Consumer Switching

Answer 1

"Switching costs" are costs that make customers reluctant to switch to another product or service.

What is Switching cost?

The expenses a consumer incurs as a result of switching brands or products are known as switching costs.

The possible switching costs are -

• Financial,
• psychological,
• effort-based, and
• time-based

The switching cost can be created by-

• The value that points programs generate for the brands that use them and the customers who take part in them much outweighs their seeming simplicity.
• By rewarding customers with points for every purchase, brands can increase the switching costs' motivating effect by giving their customers something to lose if they go to a rival.

To know more about switching costs, in the context of technology industries, here

brainly.com/question/15586831

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