Warren Buffett Quotes

Basically, the single-most important decision in evaluating a business is pricing power.

I raised my prices since there wasn't any competition it was just the smart thing to do. Why would I keep my prices up if their wasn't anyone to beat?

That doesn't mean you have to have the lowest costs in the industry to succeed. But you need to make sure the activities and product attributes that increase your costs above the other guy bring in at least that much more in revenue, and hopefully more.

When you look at a company that's already succeeded or is at the very top of its game, it isn't necessarily when it's executing well. It tends to be peacetime - you've defeated the competition, you have the highest margins, the highest multiple.

I've seen articles suggesting that Wal-Mart buys at prices lower than our competitors', and that this gives Wal-Mart an unfair advantage. I don't believe it... What we hear is concern that in some circumstances, Wal-Mart may actually be paying more than our competitors.

If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.

In business, every phase of things counts. Companies that just yell out a low price today to win business aren't going to make money in the long term.

If we look at pricing holistically, we'll create a more solid business.

Cutting prices or putting things on sale is not sustainable business strategy. The other side of it is that you can't cut enough costs to save your way to prosperity.

Cutting prices or putting things on sale is not sustainable business strategy.

Market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital.

Creating value isn't enough - you also need to capture some of the value you create.

If you look at the numbers from 2002 to 2016, we have consistently been market leaders. We have followed a well-articulated strategy, and our focus is to continue that strategy.

The reality is that we've seen the last of any serious price wars for a long time. I don't think any of the others could afford it, certainly not on a long-term basis.

I wanted the best for my company, I had to do what I did to succeed. Everyone was lowering their prices to beat there competition so I did the same I eventually beat my competition.

Differentiate your products, provide great service and don't even think about trying to compete with Wal-Mart on Price.

For us to be successful, we have to kick our competitors' butt.

When you have more competition, you have better products and lower prices.

You need to invest in areas where you can be the market leader because then you get a disproportionate share of the economics when you are.

It's not hard to be valuable when you are a monopoly.

Differentiate with value or die with price.

No company has a permanent consumer franchise. No one has the only game in town. The never-ending cycle of destruction and change inherent in a capitalist economy always provides new opportunities for those with determination, goals and concentration.

Why is Wi-Fi free at cheap hotels, but $14 a night at expensive ones?

A successful business must have a sound knowledge of its market and work on how its product or service will be different, stand out and improve people's lives. If you can ensure it responds to a real need in the market place, your business can punch well above its weight.

We value-packs, you all small fries.