Definition of Low cost:
A type of pricing method where a business sets a comparatively low price in order to enhance the demand for its product among consumers, as well as its competitive position in the market. A low cost pricing strategy is an alternative marketing approach that a business can use as an alternative to differentiation and focus pricing strategies, and it tends to be most successful when the product is fairly generic and high volume production is possible. Also called a low price strategy.
Relatively inexpensive; cheap.
How to use Low cost in a sentence?
- A low-cost airline.
Meaning of Low cost & Low cost Definition