Lower-priced

Relating to or denoting goods or services that are offered for sale at a price that is less than the usual or expected amount. It emphasizes affordability and value relative to similar products or services. This often implies reduced profit margins for the seller in exchange for attracting a larger customer base by offering items at reduced rates. lower-priced items typically target budget-conscious consumers and may be achieved through various strategies, including sourcing cheaper materials, streamlining production processes, or reducing marketing costs. The emphasis is on making the product or service accessible to a broader audience by offering an item at a price point that is less costly than others. They compete against the same products, but the price is lower.

Lower-priced meaning with examples

• The grocery store strategically placed several lower-priced generic brands near the name-brand items, encouraging price-sensitive shoppers to consider more affordable alternatives. Customers often gravitate towards lower-priced options, especially during times of economic uncertainty. Offering a variety of items at different costs helps the store maximize sales volume across different consumer groups.
• The new phone model was marketed as a lower-priced version of the flagship device, boasting many of the same features at a more accessible cost. They wanted to reach a wider audience. This marketing tactic was a success. It allowed the company to penetrate a new demographic. The company achieved its sales objectives this year by offering items at reduced prices.
• To attract budget travelers, the hotel chain introduced lower-priced rooms with fewer amenities, providing a viable alternative to expensive suites. The hotel chain understood that some clients are looking for the essentials and not the frills. These rooms were available at a more affordable price point. The initiative was successful and drew increased bookings.
• Online retailers often feature lower-priced options for clothing, electronics, and other consumer goods, making comparison shopping and bargain hunting easy. The platform also enables manufacturers to offer clearance prices and closeouts at extremely low rates. Many shoppers take advantage of online shopping to find lower-priced items. This benefits both the manufacturer and customer.
• Many car manufacturers offer lower-priced trim levels of their popular models, allowing consumers to experience the brand's quality without the higher cost of luxury features. Buyers who value function over all the frills, can save money by choosing to purchase a lower-priced vehicle model. This strategy increases market share. The strategy meets a wide array of consumer demands.