If competing companies are involved in a price war, they each try to gain an advantage by lowering their prices as much as possible in order to sell more of their products and damage their competitors financially.
[business]
A vicious price war between manufacturers has cut margins to the bone. [+ between]
price war in British English
noun
a period of intense competition among enterprises, esp retail enterprises, in the same market, characterized by repeated price reductions rather than advertising, brand promotion, etc
price war in American English
a situation in which competitors selling a certain commodity successively lower prices, as to force one or more out of business
price war in Retail
(praɪs wɔr)
Word forms: (regular plural) price wars
noun
(Retail: Pricing)
A price war is a period of intense competition between enterprises, especially retail enterprises operating in the same market, characterized by repeated price reductions.
Even the world's most popular brands engage in regular price wars.
Cutting prices in an industry loaded with excess capacity may lead to price wars as competitors battle to hold on to market share.
A price war is a period of intense competition between enterprises, especially retail enterprisesoperating in the same market, characterized by repeated price reductions.
price, price
Examples of 'price war' in a sentence
price war
Management dismissed the price war as the cut and thrust of the industry.
Times, Sunday Times (2014)
High cotton costs and the retail price war are squeezing suppliers.
The Sun (2011)
Fidelity struck another blow in the fund management price war yesterday by cutting the annual fees on one of its most popular funds.
Times, Sunday Times (2014)
The retail price wars aren't too great if you are a supplier to the shops.