Switching barriers or switching costs are terms used in microeconomics, strategic management, and marketing to describe any impediment to a customer's changing of suppliers.
In many markets, consumers are forced to incur costs when switching from one supplier to another. These costs are called switching costs and can come in many forms.
Read more about Switching Barriers: Definition, Competition, Collective Switching Costs, and Market Performance
Famous quotes containing the word barriers:
“... so far from entrenching human conduct within the gentle barriers of peace and love, religion has ever been, and now is, the deepest source of contentions, wars, persecutions for conscience sake, angry words, angry feelings, backbitings, slanders, suspicions, false judgments, evil interpretations, unwise, unjust, injurious, inconsistent actions.”
—Frances Wright (1795–1852)