From Longman Dictionary of Contemporary Englishprice warˈprice war noun [countable] BBTa situation in which several companies reduce the prices of what they sell, because they are all trying to get the most customers
Examples from the Corpus
price war• Jenny Craig and Weight Watchers will have a price war.• The threat of a price war led to plunging shares for all the major players in the market.• Us Inc. posted a 7 % increase in holiday sales despite a fierce price war among discount retailers.• Essentially, the talks were hostile: Morgan used the threat of price war to force firms to sell out and merge.• Time allowed 02:26 Read in studio Small garages in the region could be forced out of business in a new petrol price war. 