Switching costs refer to how much money and time it would cost a company to switch from one provider of a service or product to another. If you are a provider, you want your customers to face high switching costs, thus increasing the odds they will stay with you.
EXPANDED DEFINITION HERE
Related Fool Articles
Recent Mentions on Fool.com
- Is Hewlett-Packard a Threat to Cisco?
- Analog Devices Inc. Reportedly Wins a Design Inside the Next Apple Inc. iPhone
- Apple Quietly Declares War on Android With Its Newest iOS 9 Move
- 3 Best Stocks for Investing in Software
- What Could Possibly Go Wrong with Apple Stock?
- 3 Best Tech Stocks for Low-Risk Investors