Economy-priced

Economy-priced refers to goods or services that are offered at a lower cost compared to standard or luxury options. This pricing strategy prioritizes affordability, often achieved through reduced manufacturing costs, streamlined distribution, or a simplified feature set. The aim is to attract budget-conscious consumers, increasing sales volume through competitive pricing. Items categorized as economy-priced often focus on essential functionality and value for money rather than premium features. This term encompasses various industries, from automobiles and airlines to hotels and consumer products. The pricing model is crucial for widening market access for a given product.

Economy-priced meaning with examples

• For travelers on a budget, the airline offered economy-priced flights to several European destinations. These flights provided essential services without extra amenities, making them perfect for cost-conscious tourists. Despite fewer perks, the airline still ensured passenger comfort and safety.
• The new store marketed its range of economy-priced furniture, appealing to college students and young families. The pieces, while simple in design, were durable and functional, providing necessary home furnishings without breaking the bank. This affordability was the central appeal.
• The automotive manufacturer introduced an economy-priced car model to compete with the established market leaders. By reducing production costs, they were able to offer a competitive price point, encouraging buyers seeking practicality to choose their vehicles.
• Many shoppers choose to buy economy-priced groceries because of the cost effectiveness of items like bread and eggs. These products are identical to the more expensive options, and are thus preferred by the shoppers focused on saving money.