Meaning of the word "price yourself out of the market" in English

What does "price yourself out of the market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

price yourself out of the market

US /praɪs jərˈself aʊt əv ðə ˈmɑːrkɪt/
UK /praɪs jəˈself aʊt əv ðə ˈmɑːkɪt/
"price yourself out of the market" picture

Idiom

to charge so much for your goods or services that no one will buy them

Example:
If you price yourself out of the market, you won't sell any houses.
Many small businesses price themselves out of the market by not offering competitive rates.