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Pricing power refers to a company's ability to raise its prices without a significant loss in demand for its products or services. This capability is often a sign of a strong competitive advantage, such as a unique product, strong brand loyalty, or a dominant market position. Companies with substantial pricing power can often pass on increased costs to consumers, helping to maintain or improve profit margins.
Several factors contribute to pricing power. A highly differentiated product or service that few competitors can
Conversely, companies operating in highly competitive markets with commoditized products typically have very little pricing power.