Chapter
The Dangers of Pushing Up Prices During a Crisis
1:19:04 - 1:22:50 (03:46)
During times of crisis, businesses should avoid pushing up prices as it can be seen as unfair and result in negative consequences for the brand. Brands should also avoid weaponizing goodwill as it may give off the impression of taking advantage of the situation.
Clips
People are willing to go to great lengths, even if it may cost themselves, to punish unfair pricing behavior during times of crisis.
1:19:04 - 1:21:53 (02:49)
Economics
Summary
People are willing to go to great lengths, even if it may cost themselves, to punish unfair pricing behavior during times of crisis. This includes the management of demand, as it is seen as unjust.
ChapterThe Dangers of Pushing Up Prices During a Crisis
Episode#163 - Richard Shotton - Psychology, Advertising & Human Behaviour
PodcastModern Wisdom
The practice of brands offering discounts and promotions to frontline essential workers during the pandemic is criticized by some as a form of weaponizing goodwill with ulterior commercial motives.
1:21:53 - 1:22:50 (00:57)
Branding
Summary
The practice of brands offering discounts and promotions to frontline essential workers during the pandemic is criticized by some as a form of weaponizing goodwill with ulterior commercial motives.