loss leader

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Word: Loss Leader

Definition: A "loss leader" is a product that a store sells for less than its cost price. The purpose of selling it at a loss is to attract customers to the store, hoping they will buy other items that are sold at regular prices.

Usage Instructions:

• Part of Speech: Noun
• Use "loss leader" when talking about marketing strategies or pricing in stores.

Example Sentence:

• "The supermarket sold soda as a loss leader, hoping customers would buy snacks and other groceries while they were there."

Advanced Usage:

• In business discussions, you might say, "The company implemented a loss leader strategy to increase foot traffic during the holiday season."

Word Variants:

• There aren't many variants of "loss leader," but you might encounter:
  • Loss-leading (adjective): Describing an item that is sold at a loss to attract customers.
  • Loss-leading pricing (noun): A strategy where products are sold at a loss.

Different Meanings:

• In a general context, "loss" refers to the state of losing something, while "leader" can mean someone who leads or guides. However, together in "loss leader," they have a specific meaning related to marketing.

Synonyms:

• Promotional product
• Doorbuster (specifically used in retail to describe a deal that attracts customers)

Related Idioms:

• "Get them in the door": This means to attract customers to a store with a good deal or promotion.

Phrasal Verbs:

• While there are no specific phrasal verbs directly related to "loss leader," you might hear phrases like "mark down" (to reduce prices) or "bring in" (to attract customers).

Academic

Noun

1. a featured article of merchandise sold at a loss in order to draw customers

Synonyms

• drawing card
• leader