Locking in Customers by Making It Difficult or Expensive for Customers

question 33

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)brand value

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Definitions:

Cash Dividend

Dividend that is paid in cash.

Long-Term Debt

Financial obligations of a business or individual that are due more than one year in the future.

Equipment Trade

The act of exchanging equipment between parties, usually without the exchange of money.

Direct Approach

A communication strategy that involves conveying a message in a straightforward and clear manner, without circumvention.