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The Birth of the Low-Cost Phenomenon

In: Beyond the Low-Cost Business

Author

Listed:
  • Josep Francesc Valls Giménez

    (ESADE Business School)

Abstract

As had already happened with US air-traffic deregulation in 1978, the European low-cost phenomenon first appeared in the wake of the price war between certain airlines attempting to break into the market following European air-traffic deregulation in 1997. Another cause was the widespread demand for low prices on the part of consumers as a result of heightened price sensitivity. The confluence of supply and demand, which came about over the last decade, caused the position of price as a deciding factor in the valuation of a product to change definitively. Where it had once been towards the end of the pre-purchase process, it now had a new, pre-eminent position as the absolute initial purchase discriminator, at the moment that the purchase is first conceived.

Suggested Citation

  • Josep Francesc Valls Giménez, 2013. "The Birth of the Low-Cost Phenomenon," Palgrave Macmillan Books, in: Beyond the Low-Cost Business, chapter 1, pages 5-63, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-27753-4_2
    DOI: 10.1057/9781137277534_2
    as

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