A price-competition business model strips a product down to its essentials, cuts costs ruthlessly on everything else, and makes money through volume and operational efficiency rather than high margins or personal service.
Competing on price means you must identify what's core to your service or product and cut or minimize the cost for everything else. By definition, this model also means less one-on-one attention for your clients because you need volume. So basically, you need to sell a lot and obsess over efficiency to bring costs down to make a profit.
