Meaning of “pricing power” in the English Dictionary

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"pricing power" in Business English

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pricing powernoun [ U ]

uk us

COMMERCE, ECONOMICS the effect that increasing or reducing the price of a product has on demand for that product:

The group has good pricing power, controlling more than 25% of the market.
The pricing power of brand-name companies is, in large measure, a myth.

(Definition of “pricing power” from the Cambridge Business English Dictionary © Cambridge University Press)