Lots of good comments here but wanted to point out a key point nobody else mentioned.

Price alone won't let you win, but perhaps it might if you are targeting a different market segment.

For my company, our competitors focus on large enterprises. We focus on the small and mid sized companies. Our pricing is lower, our product is simpler too.

Focusing on smaller companies also changes our customer acquisition strategy to be different than our competitors. That was the hardest part to figure out too!