Reduced-rate

Reduced-rate refers to a price, fee, or charge that is offered at a lower cost than the standard or regular price. This discounted pricing strategy is often employed to attract customers, stimulate demand, provide access to services for specific groups, or clear surplus inventory. The reduction can be a fixed amount, a percentage, or tiered based on usage or eligibility. This strategy aims to make goods or services more accessible, affordable, and competitive within the market. It often relies on criteria, as well, such as time of purchase, volume purchased, age, or group membership.

Reduced-rate meaning with examples

• The museum offered a reduced-rate admission for senior citizens, making art accessible to a wider audience. This initiative provided a cost-effective experience compared to the standard pricing. It boosted visitation and offered discounts to a deserving demographic. This led to increased engagement with cultural exhibits.
• The airline provided reduced-rate fares on flights booked in advance, encouraging early reservations and helping to fill seats that might otherwise remain empty. Passengers who took advantage of this price reduction often had the best available seats or services.
• A community college offered reduced-rate tuition to students who qualified for financial aid, ensuring that education remained attainable regardless of income. It provided educational opportunities with affordable fees for those eligible.
• Many hotels offer reduced-rate stays during the off-season, attracting tourists when demand is lower. The special rates help the hotel to stay afloat during difficult financial times with consistent bookings.
• Supermarkets often provide reduced-rate prices on items nearing their expiration dates, reducing waste while still providing a sales opportunity. Products are offered with the least shelf life at discounted rates, to manage inventory.