Curiosity Unlocked

In today’s ever-evolving economic landscape, businesses are confronted with a myriad of challenges—from fluctuating economic cycles to shifting consumer behaviors and rapid disruptions in business models. Amidst this complexity, certain companies consistently outshine their peers by leveraging a critical yet often overlooked element: pricing power. At its core, pricing power refers to a company's ability to influence the demand for its products or services by adjusting prices. This concept is closely tied to the notion of price elasticity of demand, which measures the responsiveness of quantity demanded to changes in price. Simply put, higher price elasticity suggests that consumers are more sensitive to price changes, leading to lower pricing power for businesses. On the other hand, lower price elasticity indicates greater customer loyalty and a stronger competitive advantage, ultimately contributing to higher pricing power. Building and maintaining pricing power requires a strate