How Strong Are Your Club’s Switching Costs?
Published: November 4, 2013
The objective of any great business is to ascend to a position where they have a sustainable and powerful competitive advantage, or as Warren Buffet exclaimed, “In business I look for economic castles protected by unbreachable moats.” According to experts in economics, management and marketing, one of the most effective strategic tools for achieving a sustainable competitive advantage is to have high customer switching costs. In this White Paper we discuss what customer switching costs are, why its important to have high switching costs and what drives these switching costs in the club industry.