The costs that must be borne by customers if they are to stop
purchasing from a current supplier is known as Switching cost.
Who is a Customer?
Customers refers to the group of people who purchase a
particular goods or services and are also known as consumers.
Some business enlist the switching cost in their operations so
as to ensure they have a recurring revenue as a result of the
customer's buying from them as a result of high switching cost.
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