________ is a company's ability to set a high price without a significant deterioration in market share.
A) Variable cost
B) Pricing power
C) Target cost
D) Fixed cost
E) Unit cost

Question

Quizplus · Accepted Answer

Pricing power refers to a company's ability to set higher prices and maintain its market share without losing too many customers to its competitors. It is a measure of a company's competitive advantage and is influenced by several factors such as brand strength, product differentiation, market dominance, and customer loyalty, among others. Companies with high pricing power typically have a better ability to generate higher profits, reinvest in growth, and sustain profitability over the long term.

________ Is a Company's Ability to Set a High Price