Speaking of Ethics…
OK, let’s say you own a hotel in a major metropolitan area that, in the shift of residence from city centers to suburbs, has fewer people living in it than working in it and is generally only accessible through some network of mass transit systems. Now, let’s say some horrible thing has happened in said major city – flooding, earthquake, terrorist attack – that slogs down that mass transit system, stranding thousands far from their homes with no real reliable way to get back. Do you a) lower your prices to help these poor folks out, thus earning some gratitude and, if you play your cards right, some positive publicity along the way or do you b) follow the natural laws of supply and demand and jack up your prices?
I guess the deciding question you should ask is whether the immediate benefit of more profit is better than the long term benefit of good vibes and positive word of mouth. I’d prefer the latter.
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