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LSDefine

Simple English definitions for legal terms

loss leader

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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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