Reference no: EM133174902

Santiago Ricablanca is a guest speaker in your class who runs a popular local restaurant. He just shared with the class that he is considering adopting "dynamic pricing" where the prices of drinks and foods go up and down with demand and supply.

Things will be more expensive on Friday nights, game weekends, Valentine's day and cheaper on weekdays and during holidays. "A well known Calgary restaurant called Cucina Market Bistro is already doing this," he says. "And, that's how many other industries work, like airlines."

As you are a student in an entrepreneurship and small business management class, and the kind of customer his restaurant targets, he is asking for your feedback on the idea. What would you advise her? Discuss.