What positioning involves meeting customers lower performance or quality requirements at a much lower price?

For example, AMD makes less expensive versions of Intel’s market-leading microprocessor chips.

Less for Much Less. A market almost always exists for products that offer less and therefore cost less. Few people need, want, or can afford “the very best” in everything they buy. In many cases, consumers will gladly settle for less than optimal performance or give up some of the bells and whistles in exchange for a lower price. For example, many travelers seeking lodgings prefer not to pay for what they consider unnecessary extras, such as a pool, an attached restaurant, or mints on the pillow. Hotel chains such as Ramada Limited, Holiday Inn Express, and Motel 6 suspend some of these amenities and charge less accordingly. “Less-for-much-less” positioning involves meeting consumers’ lower performance or quality requirements at a much lower price. For example, Family Dollar and Dollar General stores offer more affordable goods at very low prices. Sam’s Club and Costco warehouse stores offer less merchandise selection and consistency and much lower levels of service; as a result, they charge rock-bottom prices. Southwest Airlines, the nation’s most consistently profitable air carrier, also practices less-for-much-less positioning.

From the start, Southwest Airlines has positioned itself firmly as the no-frills, low-price airline. Southwest’s passengers have learned to fly without the amenities. For example, the airline

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