What does Economy Pricing primarily target?

Economy pricing is a strategy that focuses on attracting cost-conscious consumers who are primarily looking to save money. This approach often involves offering basic products at lower prices by minimizing marketing and production costs. By doing so, businesses can appeal to a demographic that prioritizes affordability over luxury or brand prestige.

The effectiveness of economy pricing lies in its ability to reach a significant segment of the market that seeks value for their money, particularly in price-sensitive environments. This strategy is commonly used by discount retailers or brands that want to position themselves as budget-friendly options, making it especially relevant for consumers who are motivated by cost rather than additional features or luxury.

In contrast, the other options pertain to different consumer profiles that may not align with the economy pricing strategy. High-income individuals often seek premium products, luxury item consumers are focused on high-end experiences, and first-time buyers might be more concerned with product quality and reliability than just the price. Thus, economy pricing is distinctly aimed at customers seeking to save money, making it the correct choice.