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:
“In America the majority raises formidable barriers around the liberty of opinion; within these barriers an author may write what he pleases, but woe to him if he goes beyond them.”
—Alexis de Tocqueville (1805–1859)