What is the idea of low cost airline and lcc airport?

The idea behind low cost carriers is to cut operational costs to the minimum, by reducing preflight, post flight and on board services to the minimum.
So in a low cost airline the business is selling tickets only, baggage allowance is reduced sometimes to handbags, and an extra fee could be charged for check in.
The reason why this business boomed is because right after the recession2008 the demand for flights in and out of Western Europe to the middle east deteriorated given the rise in fuel prices.
And the reason why consumers may prefer it in short distance their travels is convenience and cheep tickets.