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top   »  economics   »  microeconomics   »  switching barriers

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
Economics
Definition
An obstacle customers face when switching from one product or service to another.
Next: Customer Dissatisfaction

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