How the competition helps to reduce the price of TEA?

Today I had a chance to visit Sivakasi Tea Stall. What a wonder? I've seen that, in a particular region of Sivakasi, there are the cost of Tea & Vada at rupees five. I wondered about this. I asked some of the person in that region. They said, the super market named Nalan Daily Fresh, Sithurajapuram, they started selling tea for Rs.5 to compete the market. A month later, people started using Nalan instead of other tea stalls who well sell about Rs.8. Immediately, to sustain in the market, maximum of the tea stalls reduced their price to Rs.5.

I learn about the pricing strategy and competition very well.

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