Locking in Customers and Suppliers to Your Company's Product or Service

question 12

Multiple Choice

Locking in customers and suppliers to your company's product or service is an example of:

• A) competitive advantage.
• B) switching costs.
• C) product differentiation.
• D) establishing alliance.

---

Definitions:

Chronic Happiness

A state of long-term contentment and well-being that persists over time regardless of circumstances.

Well-Being

A comprehensive measure of overall health and happiness, encompassing physical, mental, and emotional aspects of an individual's life.

Negative Feelings

This term encompasses a range of emotions such as sadness, anger, and fear, which are often unpleasant and associated with negative thoughts and experiences.

Subjective Well-Being

Subjective Well-Being is the self-perceived feeling of happiness or satisfaction with one’s life. It is a key component of positive psychology.