noun phrase · academic
price competition
/praɪs kəmˈpɛtɪʃən/PRICE com·PET·i·tion
competition between firms that mainly focuses on lowering prices to attract customers
Examples
“Price competition among supermarkets has driven down profit margins.”
“Excessive price competition can lead to a race to the bottom.”
“Small businesses often struggle to survive intense price competition.”
Band 8 sentence
“Policymakers worry that unchecked price competition may reduce product quality as firms cut costs to survive.”
Collocations
- intense price competition
- engage in price competition
- avoid price competition
Word family
Common mistakes
price compete→price competition
compete on priceing→compete on price
Say it for a higher band
5compete by price→6compete on price→7+price competition
Synonyms
price rivalry
price war
Easily confused
price war
“The two giants started a price war that lasted several months.”
Related words
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In Shopping & Money
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