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What Does "Affordable" Mean in Marketing? A Deep Dive into the True Value of Affordability

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  Introduction The term affordable is literally thrown out sometimes as a magic wand in the area of marketing. But how is affordable really defined? Provided it is the price, does it end there? What else does it encompass? As an online marketer, grasping at the appropriate definition of affordability will help you to market your products as well as convey the value to the intended customers appropriately. In this particular piece of writing we will define affordability in marketing, its actual meaning in practice and suggest some practical measures to facilitate marketing of your products or services. What Is Affordable Really? In its most basic sense, affordability means that a certain product or service is possible, and in most cases, within reach of a consumer. However, costs simply do not measure up to it. It is also about value in terms of quality and how well a product or service meets the customer’s needs and objectives. In such a situation, a customer considers an item aff...