If the costs of switching to another vendor are high, then the bargaining power of the customer is low.

Question

Quizplus · Accepted Answer

When the costs of switching to another vendor are high, it becomes difficult for customers to find a vendor that can provide satisfactory services or products at a lower cost. This gives the current vendor more power to negotiate terms and prices, making the bargaining power of the customer low.

If the Costs of Switching to Another Vendor Are High