Lock-in

This topic has 1 reply, 2 voices, and was last updated 9 years ago by Ken Garrett.

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February 25, 2017 at 3:45 pm #374168
abdulbasit16
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Sir, are lock-in and high customer switiching costs related concepts?
February 25, 2017 at 6:55 pm #374205
Ken Garrett
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Yes. A customer is locked in eg a long term contract, and this increases switching costing costs becasue there would be penalties to get out of the contract.
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