this post was submitted on 20 Jan 2024
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That is the definition of no demand. Whether customers don't want your product or the price you're charging, it's the same. It's then up to your business decision which way you go from there, increase coach seats or lower the price of first class. Make the right choice and you stay in business.
In this market I imagine this has transpired:
Employee: “Customers are not seeing the value on the service priced at 4X of an economy seat. Let’s offer first class at a discount. Market research shows customers willing to pay a premium markup of up to 2X for it.”
Boss: “Great idea, let’s increase plane occupancy by making more economy premium seats and marking up all of them 2X!”
Boss gets bonus for innovation and promotion. Employee gets RTO orders, 1% merit increase, 2% COLA adjustment and a pizza party from the boss to thank for being part of the AA family!