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Whats the difference between dynamic pricing and surge pricing, and why were people mad at Wendys? [Video]

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Corporate Business Marketing

NEW YORK (AP) — Consumers will pay more for a flight to Florida or for a hotel room during peak vacation times. They fork out more for a rush hour Uber ride, perhaps while grinding their teeth, and rely on apps like ParkWhiz or ParkMobile to book spots for their cars at premium prices.

But a social media backlash this week to media reports that said fast-food chain Wendy’s had plans to increase menu prices during its busiest hours showed a limit to where, when and for what U.S. consumers will trade more cash for convenience. It looks like a Dave’s Double Combo or a Frosty won’t make the cut.

Wendy’s clarified its intentionsWednesday, drawing a distinction between the company’s “dynamic pricing” strategy and “surge pricing” practices that charge more during times of peak demand. The company said any fluctuations it decides to test in the future “would be designed to benefit our customers …

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