price war

noun
intensive competition, especially among retailers, in which prices are repeatedly cut in order to undersell competitors or sometimes to force smaller competitors out of business.

Origin:
1925–30

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Based on the Random House Dictionary, © Random House, Inc. 2013.
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World English Dictionary
price war
 
n
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

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
Cite This Source
00:10
Price war is always a great word to know.
So is ort. Does it mean:
a scrap or morsel of food left at a meal.
a fool or simpleton; ninny.
Example sentences
Already, a price war is looming, as dealers try to clear inventory for new
  models arriving in the fall.
Managers from all three ports mutter darkly about an impending price war.
Dealer lots are clogged with inventory, and a price war seems to be taking off.
For the past several weeks, they have been engaged in a price war, with each
  firm attempting to undercut the other's prices.
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