Locking in Customers by Making It Difficult or Expensive for Customers

question 94

Multiple Choice

Locking in customers by making it difficult or expensive for customers to move to another product is called establishing high ________.

• A) entry barriers
• B) switching costs
• C) product standards
• D) value differentiation

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Definitions:

Independent Variable

A variable in a functional relation whose value determines the value or values of other variables.

Coefficient Of Determination

A measure used in statistical analysis that assesses how well data points fit a line or curve, often symbolized as R^2.

Dependent Variable

A variable in a scientific experiment that is affected by another variable, called the independent variable, and is measured or observed.

Independent Variable

A variable in an experiment or model that is manipulated or changed to observe its effect on a dependent variable.