above (adjective, a-bove, \ əˈbʌv \) market (noun, mar-ket, /ˈmɑːrkɪt/) cost (noun, cost, /kɑːst/)
Definition: is a cost of a product or a service, which is higher than the average price on the market, especially when compared with the same (or related) products and services that belong to the competitors’ ownership. In the majority of cases, the above market cost is required for a number of reasons, even though it is not the most effective trade tool. For instance, a unique advertisement system may require a business owner to increase the market cost of a product or a service and to make it above the market.
In a Sentence:
- Setting an above market cost may give our competitors a chance to sell more of their product at a cheaper price.
- Because our marketing campaign was so expensive, we now have to set the prices for the services above market cost.
- Even though their goods are sold at the above market cost, you can be sure of their quality and reliability.
Synonyms and related words: market value, market position, cost of capital, market condition, business competitor, average cost