Words / L / Business

lock-in

noun/ˈlɒkɪn/

A2CEFR level
10/100Rarity: common
TechnicalRegister

A situation in which switching costs keep customers tied to a supplier.

The platform's deep lock-in gave it the pricing power that made the acquisition so attractive.

Topic: Strategy in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Strategy