Definition, Meaning & Synonyms
price-reduction
noun
/praɪs rɪˈdʌkʃən/
Definition
The act of decreasing the price of a product or service.
Examples
- The store is having a price-reduction sale this weekend.
- After the price-reduction, many customers rushed to buy the new gadget.
- Price-reduction strategies can significantly boost sales during slow seasons.
Meaning
A price-reduction refers to a lower cost or price of an item in comparison to its previous rate, often intended to encourage sales or improve competitiveness.
Synonyms
- discount
- markdown
- price cut
- rebate
- decrease
