Square-priced

Square-priced, in the context of economics and business, describes goods or services that are offered at a price considered fair, reasonable, or competitive relative to their perceived value, quality, and the prevailing market conditions. It suggests a pricing strategy that avoids excessive markups or discounts, aiming for a balanced transaction beneficial to both the seller and the buyer. This pricing strategy often reflects transparency in cost calculation, providing justification for the price point and fostering trust with customers. It often implies a level of pricing integrity, where the business is seen as not exploiting their customer base by overcharging or taking advantage of specific market conditions. Therefore, "square-priced" is a business practice that aims to balance profit with customer satisfaction to promote loyalty.

Square-priced meaning with examples

• The vintage camera, meticulously restored, was square-priced at $400. Considering its rarity and excellent condition, the dealer believed this was a fair price for both parties. Customers appreciated the transparency, as the cost was in line with the market and provided value. This created a positive buying experience. People trusted the honesty of the shop, which led to repeat business.
• Despite its premium quality, the new line of artisan soaps was square-priced. The company conducted extensive market research to arrive at a competitive and fair pricing strategy, with a margin to cover the high manufacturing costs. This enabled them to generate considerable profits with customer confidence. Consumers were willing to pay, knowing they weren't being overcharged.
• After the component shortage, the manufacturer decided that the new widgets should be square-priced. Despite the production costs, the company decided that keeping pricing stable would be a sensible strategy. They could maintain a strong relationship with the market, while still making reasonable profit margins. This strategy was also very appealing to the customer base.
• During the economic downturn, the local grocery store made an effort to ensure that all staple food items were square-priced. This included a reduction on the current cost, so that prices remained affordable for customers. This attracted new customers and secured the loyalty of existing ones. The business took an ethical stand to provide good pricing during a time of economic hardship.