Definition of Price competition:
Rivalry between suppliers based solely on price, usually for commodious or identical items.
How to use Price competition in a sentence?
- The gas station I normally use is luckily situated across the street from another gas station, so they are constantly engaged in a price competition to get business in the door.
- With consumers having access to nearly every retailer in the world through the internet price competition can be extreme, many merchants will sell items at a loss hoping to make a small profit on add on sales.
- The price competition was fierce as each company was earning a large margin of profit on their goods so they could lower their prices considerably.
Meaning of Price competition & Price competition Definition