A company offers a relatively low price as a pricing strategy, seeking to stimulate demand and gain market share. One of three generic marketing strategies. Refer to differentiation strategy and focus strategy. These can be adopted by any company. Product with few or no competitive advantages, or product volume achieving an economies of scale is the best use of these strategies. Also known as low price strategy.
Category: L
LOST PROPERTY
LOW DILIGENCE
LOST WAGES
LOW DOCUMENTATION LOAN
Loans given to borrowers unable or unwilling to give a lender certain information or documentation. A variety of loan types are considered to be low documentation. Not everyone is eligible for this type of loan. The lender must be confident in an entity’s abilities to repay the balance. Typically, those using these loan types are self-employed, showing less income for tax reasons, or workers with no wage history, or business owners with no record of past consistent earnings, or people having difficulty providing lender-acceptable documentation. Also known as liar loans.
LOSSLESS COMPRESSION
LOSS OF USE
LOSSY COMPRESSION
Compression-decompression method experiencing data loss by the compression algorithm, possible undetected by the user. Data file reduction technique. The decompressed file is not identical to the original file, yet has very high compression ratios. Most often used in compression of music and photographs.
LOSS ON SALE OF ASSETS
LOST
An article is “lost” when the owner has lost the possession or custody of it, in- voluntarily and by any means, but more particularly by accident or his own negligence or forgetfulness, and when he is ignorant of its whereabouts or cannot recover it by an ordinarily diligent search. See State Sav. Bank v. Buhl. 129 Mich. 193, 88 N. W. 471, 56 L R. A. 944; Belote v. State, 36 Miss. 120. 72 Am. Dec. 163; Hoagland v. Amusement Co., 170 Mo. 335, 70 S. W. 878, 94 Am. St. Rep. 740. As applied to ships and vessels, the term means “lost at sea,” and a vessel lost is one that has totally gone from the owners against their will, so that they know nothing of it whether it still exists or not, or one which they know is no longer withiu their use and control, either in consequeuce of capture by enemies or pirates, or an unknown foundering, or sinking by a known storm, or collision, or destruction by ship wreck. Bennett v. Garlock, 10 Hun (N. Y.) 338; Collard v. Eddy, 17 Mo. 355; Insurance Co. v. Gossler, 7 Fed. Cas. 406.