Is it a good idea to start a price war with your direct competitors in the business in order to overcome the competition? If no, why?

I suggest no.because price doesn't compete perfictly and the replacement this strategy by using advertising method will results in higher outcomes and achievement of efficiency and differentiate the product inside the consumer mind.

No, I would not consider this because, business is based on service & quality first, than comes price.

If you are excellent at quality & services, you would get more price even than your competitors!!!!

It is not a good idea because it is not sustainable as price war means competing in offer of low prices to customers which results to reduction in profit for business organization and could easily be copied by competitors. Service differentiation is only sustainable competitive practice in competitive environments as service is difficult to copy. When there is price war customers win whilst organisation surrender their power of influence leading to retrogressive profit trends hence matured market.