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LSDefine

Simple English definitions for legal terms

loss leader

Read a random definition: free enterprise

A quick definition of loss leader:

A loss leader is a product that is sold at a very low price, sometimes even below the cost, to attract customers to a store. The idea is that once the customer is in the store, they will be enticed to buy other items at regular prices. This is sometimes called a "leader." However, it is important to be aware of bait and switch tactics, where a store advertises a low-priced product to lure customers in, only to try to sell them a higher-priced product instead.

A more thorough explanation:

A loss leader is a product that is sold at a very low price, often below the cost of production, to attract customers to buy other items. This is a common marketing strategy used by businesses to increase sales and customer traffic.

A grocery store may sell a gallon of milk for $1, which is below the cost of production, to attract customers to come into the store. Once the customer is in the store, they may purchase other items at regular prices, which will make up for the loss on the milk.

Bait and switch is a sales practice where a merchant advertises a low-priced product to lure customers into the store, only to induce them to buy a higher-priced product. This is illegal in most states when the original product is not actually available as advertised.

A car dealership may advertise a car at a very low price to attract customers to come into the dealership. Once the customer is there, the dealership may tell them that the car is no longer available, but they have a similar car at a higher price. This is an example of bait and switch.

Overall, loss leader and bait and switch are both marketing strategies used by businesses to increase sales and customer traffic. However, while loss leader is legal and ethical, bait and switch is illegal and unethical.

loss insurance | loss-of-chance doctrine

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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