What is a key characteristic of affordable pricing?

Affordable pricing primarily focuses on making products or services accessible to a specific target market. This strategy is designed to ensure that a wide range of consumers can purchase the product without financial strain, thereby expanding the customer base and enhancing market penetration. Companies that adopt affordable pricing typically aim to cater to the needs of price-sensitive consumers, ensuring that their offerings are competitively priced while still providing value.

In contrast, maximizing profit margins, setting prices above the market average, or utilizing premium branding strategies would not align with the goal of affordability. These approaches often prioritize higher prices to reflect quality or exclusivity, which can limit accessibility for a broader audience. Thus, the emphasis on making products accessible directly underlines the essence of affordable pricing.