MANAGEMENT

Detailed explanation-1: -Here are some common reasons for switching: Budget-Your price may be higher than what a competitor charges for the same service. Value-Your customer may not see the return on their investment in your product.

Detailed explanation-2: -Customers often switch brands if a more affordable option for a product or service is available. When brand switching, they typically seek items that have a similar value to what they normally purchase. If the product or service a customer usually buys exceeds a certain price point, it may also lead to a brand switch.

Detailed explanation-3: -Brand switching is when a customer stops buying one brand’s products and chooses to buy them from a direct competitor. It is the polar opposite of brand loyalty. For example: If a consumer has always used Apple’s iPhone(s) but then decides to buy a Samsung Galaxy, they have switched brands from Apple to Samsung.