struggle of lowering prices when each manufacturer or seller tries to outsell his competitors
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. A vicious price war between manufacturers has cut margins to the bone. A period of intense competition among businesses in which each competitor tries to cut retail prices below those of the others. a situation in which several companies reduce the prices of what they sell, because they are all trying to get the most customers