price war

Popular Terms
Market situation in which (usually two) powerful competitors try to usurp each other's market share by progressively reducing prices until one of them retreats, at least temporarily.

Use 'price war' in a Sentence

The customers were hoping for a price war to see who would go lower as they were brand inelastic in their demand.
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You need to be careful not to get into a price war or you may end up way overpaying for what you get.
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The price war between the gas stations on opposite sides of the main street in Cherryville was a welcomed relief from their previous sky-high prices for the citizens.
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