selection

1. A consumer's choice of a product or service.

2. The available products or services that a company offers a consumer. A business with a wide array of available choices is considered to have a wide selection.

Switching costs (that is, the expenses that would be incurred if a customer switched to a different provider) are a negative for the customer, but can be a negative or a positive for the provider. On the plus side, switching costs make customers more likely to stay with the provider. On the minus side, this can make it more difficult to acquire the customer to begin with, as the customer will be more cautious about committing, and other providers may compete more aggressively to acquire the valuable customer. In those cases where the provider has some choice, selection of magnitude of switching costs is a strategic decision. The ideal case for the provider is one in which the product or service is perceived to have little or no lock-in, but where the actual lock-in is high or rises over time.

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