If a new entrant firm hopes to attract customers from an established incumbent firm, the new entrant must ensure that the value they offer exceeds the incumbents’ value in addition to any perceived ____________.

Respuesta :

Answer:

switching costs

Explanation:

Switching costs are those that face the consumer when changing product, supplier or brand.

They are not only monetary, there are also psychological, effort and time costs. They can manifest themselves in various forms such as: cancellation penalties, the need to learn how to use a new product or technology, face the risk that the usual operations are interrupted or the risk that the change will not satisfy us.

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