Where do bicycle manufacturers cut costs?

I'm curious which parts of a bicycle the company might "cheap out" on to make it more affordable.

Replying to [zongren]:
use cheap hubs, bottom brackets, and no name stems, handlebars, tires

Replying to [zongren]:you could just buy a frame and then add the parts yourself

Replying to [zongren]:
Any parts. cranks, chain, and cassette, high tensile spokes, pedals

Replying to [zongren]:wheelset, shifters, seats

Replying to [zongren]:The biggest way to cut costs is in the wheelset. Next in line are the brakes and the use of no-name components for the seat, seatpost, handlebar and stem.

Replying to [zongren]:The biggest way to cut costs is in the wheelset. Next in line are the brakes and the use of no-name components for the seat, seatpost, handlebar and stem.