Two Ways to Reduce Buyer Power Is Through Switching Costs

question 21

True/False

Two ways to reduce buyer power is through switching costs and loyalty programs.

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Definitions:

Process

A series of actions or steps taken to achieve a particular end.

Norm

An understood rule for accepted and expected behavior in a society or group.

Inter-Team Dynamics

Inter-team dynamics occur as groups cooperate and compete with one another.

Mutual Animosities

Feelings of strong dislike or hostility that are shared reciprocally between individuals or groups.