The idiom "price yourself out of the market" means that you have set your prices too high, making your product or service unaffordable for most people. This can lead to a decrease in demand for your product or service, and ultimately, a loss of customers.
For example, let's say you are a freelance graphic designer and you charge $500 for a simple logo design. However, your competitors are charging $100 for the same service. In this case, you have priced yourself out of the market, as most people will choose the cheaper option.
This idiom is used to warn someone that they need to be careful not to set their prices too high, or they risk losing customers to competitors who offer similar products or services at a lower price. It is often used in business and marketing contexts, but can be applied to any situation where pricing is a factor.
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• The new software company is charging too much for its product, which may make it difficult for them to compete with others in the market and eventually price themselves out of the market.
• The small grocery store in the village has to lower its prices, otherwise it will price itself out of the market.
• He wanted to sell his paintings for a very high price, but he priced himself out of the market and no one bought them.
• The luxury car brand has increased its prices significantly, running the risk of pricing itself out of the market, as customers may opt for more affordable alternative brands.
• The fashion designer decided to increase the price of her dresses to reflect her brand's exclusivity, but she soon realized that she had priced herself out of the market, as customers were no longer interested in her designs.
• The real estate developer overpriced the houses in the exclusive neighborhood, and as a result, they priced themselves out of the market, with no buyers interested in purchasing them.