Price competition

Price competition is a certain type of competition between providers of the same products and services. The price of the competitors is also undercut. Measures such as quality, reputation or customer service often only play a subordinate role when it comes to price competition. From the consumer's perspective, price undercutting is desirable. In markets with a few large providers, however, a price war can endanger entire companies.

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Further explanations for the first letter "P"