Switching costs are impediments or expenses that customers incur when deciding to use products from a different brand rather than continuing to use the similar or identical products offered by their current brand. In the life sciences, such switching costs may include: The fear of losing the money and time already invested in optimizing a […]
Sometimes, market research is not something you do, but rather, something you have. Indeed, some companies may not recognize that the information they collect and use each day may in fact be market research. Best practices market research recognizes the importance of all forms of information flowing into the company—not just macro market data, but […]
