MUNCIE, Ind. -- When it comes to Valentine's Day, millions of Americans are left with the choice of paying exorbitant prices for flowers, cards and candy or facing a difficult domestic situation.

When the credit card, check or cash is used to pay higher prices for red roses, chocolates or romantic clothing, consumers are victims of a high demand market which drives up prices, says a Ball State University marketing professor.

High demand has made Valentine's Day an extremely profitable holiday for retailers. Valentine's Day ranks second behind Christmas in total sales of candy, flowers and cards.

"It is common business practice to increase prices when demand for a product increases," said Joe Chapman, associate director of the Ball State Professional Selling Institute. "Some companies have to tap into the market during peak selling times just to make up for the rest of the year.

"While we may become upset at paying prices that are three or four times higher than just a few weeks before or after, the demand dictates the price increase," he said. "It is not unethical, but at Valentine's Day we notice it just a little bit more."

Chapman points that many businesses use the supply and demand principle that allows firms to raise prices for items or services due to increased demand by consumers.

Gasoline prices typically increase during holidays and summer months. Hotel room costs are significantly lower during the off-season than during the peak vacation times. Bicycle equipment costs more in early spring than in late fall while indoor exercise equipment is more expensive in early winter than in the summer months.

"Another factor is competition," Chapman said. "If one florist increases prices, they all do. Gasoline costs more at all gas stations or convenience stores during peak driving times."

Competition also prevents prices from skyrocketing. If several competitors refuse to increase their prices, companies that raise prices too high risk losing customers, he said. "However, the cost will go up only so much," Chapman said.

"If it goes too high, consumers will switch to other items or services. Instead of driving along, people will car pool or just not drive as much. Instead of buying red roses, consumers will buy cheaper flowers or some other type of gift."