If you go into an amusement park which you cannot go out of and back in (without a new ticket) or which is remote and far away from any shops, and find that a bottle of soft drink is being (legally) sold for $4 when its normal price is $1, what is that practice called?
-
@KannE Gouging is the word that occurred to me, also. Perhaps you could make it into an answer?– MickCommented Jul 24, 2019 at 7:05
-
@Mick, price gouging is something else. It is "the practice of increasing prices sharply, especially to take advantage of high demand" (Lexico.com) common examples of which include price increases of basic necessities after hurricanes or other natural disasters (Wikipedia). "Captive" means "having no freedom to choose alternatives or to avoid something", as in "advertisements at the cinema reach a captive audience" (Lexico.com).– peanutjellyCommented Jul 24, 2019 at 7:43
-
2I usually call it daylight robbery and refuse to buy anything on principle.– Janus Bahs JacquetCommented Jul 24, 2019 at 7:46
Add a comment
|
1 Answer
profiteering prof·it·eer (prŏf′ĭ-tîr′) n. One who makes excessive profits on goods in short supply. intr.v. prof·it·eered, prof·it·eer·ing, prof·it·eers To make excessive profits on goods in short supply.
-
It’s not about demand and supply. It’s about the consumers being confined in the place where the products are being sold (airport departure lounge, amusement park, movie theatre, etc.). Commented Jul 24, 2019 at 16:02
-
1@peanutjelly Which makes it about supply and demand. The only supply of what the consumer demands (in their currently confined location) is at a much higher price than normal. Commented Jul 24, 2019 at 18:52
-
@JasonBassford I do not disagree that it is a way of profiteering, but I’m after a more technical term and which applies specifically when there is confinement. “Captive market pricing” is, to me, really the best fit so far. Commented Jul 24, 2019 at 19:09
-
@peanutjelly In that case, you should provide it as your own answer . . . Commented Jul 24, 2019 at 19:56
-
It's important to understand this word has a very negative connotation. It could be used complaining against a soulless corporation, but for an independent/mom+pop movie theater (for example) charging $4 for a soda as their main profit margin, it'd be a bit extreme. I think captive market or being a captive audience is more fitting in that case. From Wikipedia: "Profiteering is a pejorative term for the act of making a profit by methods considered unethical."– jdfCommented Aug 2, 2019 at 6:16