How would you describe an affordable price?

If something is affordable, it means its price is low enough that you (or most people) have enough money to buy it.

What is a low cost product?

Consumer staples produced by low-cost producers generally include household items, cleaning products, food, beverages—any items that consumers cannot cut out. Specialty goods such as jewelry, high-end cars, and certain types of clothing generally do not have low-cost producers.

What is an example of product pricing?

Here’s a simple value-based pricing example. You take a small child to a petting zoo, and she wants to feed the goats. You put a quarter in the goat food dispenser. From a pricing perspective, there is the cost of the goat food — about two cents.

What are the ways to price a product or service?

These methods include (but are not limited to) the following:

• Penetration pricing.
• Pre-emptive pricing.
• Premium decoy pricing.
• Premium pricing.
• Psychological pricing.
• Value-based pricing.
• Price leadership.

What’s a better word for affordable?

What is another word for affordable?

cheap	inexpensive
reasonable	economical
modest	bargain
budget	fair
low	popular

What is affordable define?

Definition of affordable : able to be afforded : having a cost that is not too high products sold at affordable prices an affordable purchase affordable housing [=housing that is not too expensive for people of limited means] Other Words from affordable Synonyms More Example Sentences Learn More About affordable.

How do you describe the quality of a product?

“Product quality means to incorporate features that have a capacity to meet consumer needs (wants) and gives customer satisfaction by improving products (goods) and making them free from any deficiencies or defects.”

What is a low cost strategy example?

In a low cost strategy, the true winner is the company with the actual lowest cost in the market place. For example, if two companies make essentially identical products that sell at the same price in the market place, the one with the lower costs has the advantage of a higher level of profit per sale.

How do you describe pricing?

Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business’s marketing plan. The needs of the consumer can be converted into demand only if the consumer has the willingness and capacity to buy the product.

What is a product pricing?

What is product pricing? Product pricing is a process that entails the translation of product value into quantitative terms. Pricing decision is usually made before its initial release to the market, however, businesses can change the selling price at any point for a variety of reasons.

What is your product description?

A product description is a form of marketing copy used to describe and explain the benefits of your product. In other words, it provides all the information and details of your product on your ecommerce site. These product details can be one sentence, a short paragraph or bulleted. They can be serious, funny or quirky.

What is price of a product?

By definition, price is the money that customers must pay for a product or service. Pricing of the product is something different from its price. In simple words, pricing is the art of translating into quantitative terms the value of a product to customers at a point of time.

How do you describe a low-cost product?

This means that if you describe your product only as low-cost, you will never stop having to decrease selling price and reduce your margin. Instead, describe first the benefits, value, quality of your product (sell it). Then, if in addition all these good things are less expensive than compet

What is another word for low-cost?

other words for low-cost. Compare Synonyms. economical. inexpensive. low-priced. at a bargain. bargain. bargain-basement. bargain-counter.

What is the difference between affordable and cheap?

Insurance products). Although affordable is often used as a synonym of cheap or low price I think it is more kind of subjective term: one can afford or not anything depending on her/his economical means. In business context, low cost is a more appropriate term to use.

Should you offer a low-cost product or service for your business?

Ever considered offering a low-cost product or service such as a book, ebook, training course, membership (e.g. Netflix), audio or training video? It can be a great way to grow your business. I share ten reasons why in this blog post.