undercut
US /ˌʌn.dɚˈkʌt/
UK /ˌʌn.dɚˈkʌt/

1.
offer goods or services at a lower price than (a competitor)
:
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Large supermarkets can undercut small local shops.
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Our competitors are trying to undercut us on price.
1.
a hairstyle in which the hair on the top of the head is long and parted on one side, and the sides and back are cut very short or shaved
:
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He got a trendy undercut for the summer.
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The barber gave him a sharp undercut.