Definition, Meaning & Synonyms
competitive-rate
Adjective
/kəmˈpɛtɪtɪv reɪt/
Definition
A competitive rate refers to a pricing structure that is attractive and favorable when compared to other available options in the market.
Examples
- The hotel offered a competitive rate that attracted many visitors.
- After researching various service providers, I found a competitive rate for internet services that suited my needs.
- To stay relevant in the market, businesses must offer competitive rates to their customers.
Meaning
It implies that the cost of a service or product is set at a level that encourages customers to choose it over various alternatives.
Synonyms
- Attractive price
- Favorable pricing
- Market-driven rate
