Organizations Can Lock in Customers by Making It Difficult or Expensive

question 19

True/False

Organizations can lock in customers by making it difficult or expensive for them to move to another product.

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Definitions:

Implicitly

In a way that is not directly expressed but is understood or implied.

Explicitly

Stated clearly and in detail, leaving no room for confusion or ambiguity.

Venture Capitalists

Investors who provide capital to start-ups and early-stage companies with potential for high growth, typically in exchange for equity.

Startup

An entrepreneurial venture typically in the early stages of operations, often innovation-driven and aiming to meet a marketplace need by developing a viable business model around a product, service, process, or platform.