I'm working on an online service right now. One of the most important assets I have is that I'll be introducing a mainstream service for a high quality and a significantly low price (lower than my competitors). I want to highlight this feature to attract small businesses and startups so I thought of integrating the word "cheap" in the service's domain name. Is it a bad decision?
Think about how other low cost offerings emphasize the discount level. Fiverr, for one. Cheap is a ticket to failure. For many, cheap means "easily breakable, unreliable junk." Although Google guards the information with its life, I also suspect that Google devalues the word cheap from an SEO perspective. Even the most successful three domains with the word "cheap" in them have a fairly low page ranks - between 4 and 6 - and receive a less than impressive amount of visits per month (estimated with Compete.com).
I can help you choose a more effective domain name that communicates the same message and is more relevant to search volume, but I need more info on your business.