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What are Switching Barriers?

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Switching barriers are obstacles that customers have to switching from one product or service to another. They include costs, contractual obligations, risks, interruptions of service and inconveniences.
From the seller's perspective, switching barriers may prevent customers from leaving and allow higher prices to be imposed. In some cases, firms establish as many restrictions as legally permitted to make it difficult for customers to leave a service.
From a customer's perspective, switching barriers are an exposure that put the customer at risk of higher prices, unfair terms, reductions in benefits and degradation of service.
In many cases, governments regulate industries that are known for imposing artificial switching barriers such as punitive fees or cumbersome processes for closing accounts.
Overview: Switching Barriers
Type
Definition
An obstacle customers face when switching from one product or service to another.
Next: Customer Dissatisfaction

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Economic Theories

A list of economic theories that are particularly useful for business.

Adverse Selection

The tendency for people at high risk to buy insurance.

Economic Advantage

A list of economic positions or capabilities that allow you to outperform in a particular industry.

Knowledge Work

A definition of knowledge work with examples.

Production

A definition of production with examples.

Post Scarcity

An overview of post-scarcity.

Economic Infrastructure

The common types of economic infrastructure.

Business Competition

The common types of business competition.

Inefficiency

The common types of inefficiency.

Supply Examples

An overview of supply with common examples.

Alpha vs Beta

The difference between two common investment measurements.

Regression Toward The Mean

An overview of Regression Toward The Mean.

Efficient Market Hypothesis

An overview of the Efficient Market Hypothesis.

Animal Spirits

An overview of animal spirits, a theory of investing.

Financial Markets

A definition of financial market with examples.

Mr Market

A definition of Mr. Market, an investing theory.

Organic Growth

A definition of organic growth with examples.

Concept Company

The common types of concept company.

Information Costs

A definition of information costs with examples.

Channel Check

The definition of channel check with examples.
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