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Price war
PRICE WAR

Definition: A situation in which companies or shops/stores keep reducing the prices of their products and services in order to attract customers away from their competitors.
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* All eight elements would be in.


1. Purposeful (see definition).

2. Necessity, that is, business circumstances demand 'fight'.

3. Quality of product or service does not reduce throughout the duration of the 'war'! (To emphasize.)
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LOW !


4. Reduction is timely, when goods are available in sufficient quantities for the number of interested customers.

5. Price never goes below the cost price of product.
____________

LOWER !!


6. Reduction is a response or a reaction to competitors'. That is, reduction is never a preemptive or in anticipation of the competitor's reduction in reduction.

7. Companies or shops/store do not hoard goods in anticipation of when prices will (may) go up again in the future (connect to #4).

8. Reduction achieves objective(s) for company or companies with the lowest offer. That is, more patronage results from 'rock-bottoming'.
_________________

LOWEST !!!

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