Is there a word/term for this in sales or in generally?
When companies profit or sell something that is basically needed. Like it starts raining so I start selling umbrellas. Or like right now, there's a pandemic so companies try to profit by selling masks
Or when companies sell you one thing when they know you need a second thing just to profit. Like if a store sold you a phone, and then the charger is sold separately cause they know you need it and want more money
Does it have a term??
- Anonymous1 month ago
Selling something people want/need is normal. Why would anyone try to sell something that no one wants or needs. Profit is not a dirty word. Without profit, there would be no jobs, no employees and no paychecks.
Perhaps you are trying to ask if there is a term for when a company jacks up prices on something essential to take unfair advantage of people. Like selling toilet paper for $10/roll during the pandemic. The term for that is "profiteering".