Chapter 13: Marketing - McGraw-Hill Introduction to Business

Chocolate Prices Are Scarily High This Halloween

October 22, 2024

For millions of Americans, Halloween is all about eating candy. And there’s no variety of candy more beloved than chocolate. According to national surveys, the average American’s favorite Halloween candy is a chocolate treat like M&Ms, Snickers, or Reese’s Peanut Butter Cups. But this year, you may notice less chocolate in your family’s trick-or-treat stash. That’s because cocoa prices are at record highs after three years of poor crops. The price of cocoa has doubled since the start of 2024 Continue reading →

Product Development, Promotions, Supply chains, Packaging, Marketing, Product Distribution, Agriculture, Halloween, Holidays, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Limp Bizkit Sues Record Company for $200 Million

October 17, 2024

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In the 1980s, record companies started releasing music on compact discs after a century of producing vinyl albums. Driven by new digital technology, the music business soon exploded into a billion dollar industry. But with big budgets came big fights over profits between record companies and recording artists. For example, the R&B group TLC blamed an unfair contract with their record label when they filed for bankruptcy in the 1990s despite selling 65 million records. Musical innovator Prince temporarily changed Continue reading →

Ethics, Labor Relations, Product Development, Compensation, Streaming, Product Distribution, Motivation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 10: Motivation, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

23andMe Struggles to Turn Customers Into Subscribers

October 15, 2024

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Since the discovery of DNA’s structure in the 1950s, scientists have predicted a future where doctors could analyze a patient’s genes to identify and even prevent certain diseases. The medical industry seemed to be moving closer to that goal in 2007 when 23andMe became the first company to release a direct-to-consumer genetic test. Named for the 23 pairs of chromosomes in human DNA, 23andMe analyzed saliva samples from customers to show their ancestry and predispositions to diseases like cancer and Continue reading →

Product Development, Marketing, Pricing, Ethics, Startups, Entrepreneurship, Product Distribution, Subscriptions, Genetics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] How Kodak Invented the “Snapshot”

October 10, 2024

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Photography was once a specialized field where only trained professionals had the expertise to shoot and develop prints. Then in the late 19th century, Kodak released the first of many “point-and-shoot” cameras that would change the industry forever. The video below explores the fascinating history behind the “snapshot” and how technological innovations can bring niche products to a wider market.

Questions:

How did the introduction of point-and-shoot cameras change the photography market?
Do you see any similarities between the Continue reading →

McDonald’s Tests Cash-Enabled Ordering Kiosks

October 8, 2024

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In 2016, McDonald’s attempted to speed up customer wait times by using touchscreen kiosks to take orders, but guests paying with cash still had to go to the register at the counter. After eight years of waiting, though, the fast food chain is finally testing kiosks that can also accept cash and make change. The cash kiosks are optional for McDonald’s franchisees, who own and manage 95 percent of the company’s more than 14,000 U.S. locations. So far, only 2 Continue reading →

Product Development, Promotions, Marketing, McDonald’s, Operations Management, Product Distribution, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Pokémon Creators Sue “Copycat” Game Palworld for Patent Violations

October 2, 2024

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While Microsoft is staking the future of Xbox on cloud gaming, Nintendo has long depended on iconic properties like Mario and Pokémon to drive sales of its video game consoles. In fact, the Japanese company has been infamous for filing lawsuits to protect its intellectual property for about as long as video games have been around. In one notable example from the 1980s, Nintendo sued Blockbuster for copyright infringement after the video rental chain added games to its lineup Continue reading →

Patents, Copyright infringement, Marketing, Global, Product Development, Ethics, Entertainment, Entrepreneurship, Product Distribution, Video Games

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] Xbox Stakes its Future on Cloud Gaming

September 27, 2024

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For decades, the video game console market has been dominated by two major players: Microsoft’s Xbox and Sony’s Playstation. While the latter has consistently outsold the former, in recent years Microsoft has been buying up game developers in an effort to control the software side of the business. The video below explores Microsoft’s bet on cloud gaming through Xbox Game Pass, and whether the tech giant’s gamble will pay off in the long run.

Questions:

Why do companies like Microsoft Continue reading →

Product Distribution, Video Games, Supply & Demand, Microsoft, Sony, Product Development, Promotions, Global, Entertainment

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

The Ups and Downs of Earning Ad Revenue on YouTube

September 18, 2024

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One of the reasons why many content creators are drawn to YouTube is the money they can make from advertisements. Brands buy ads that roll before or during videos, and creators get a share of that revenue based on the number of views. The more views and subscribers a channel gets, the more ad dollars the creator can get. YouTube handles all the ad sales, so creators don’t have to spend time negotiating directly with brands like they do for Continue reading →

Product Development, Marketing, Branding, Entrepreneurship, Advertising, Social Media, Product Distribution, YouTube

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] How a Cork Company Produces 22 Million Stoppers Per Day

September 12, 2024

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Although wine corks might seem like simple items, the video below shows why they’re anything but. Along with examining the production and manufacturing processes around cork, this lengthy video also explains how one company uses it to produce everything from flooring to footwear.

Questions:

What are cork companies like Amorim doing to address the shortage of skilled laborers needed for bark harvesting?
How did Amorim diversify its operations after a fungi infection nearly destroyed its cork stopper business?

Cash-Strapped Customers Lead to Declining Sales at Dollar Stores

September 10, 2024

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Dollar stores are famous for low prices. Even when economic times get tough, discount retailers usually continue to do well because they draw customers looking to pay less than they would in a typical store. But that’s changing as customers have less money to spend, and now dollar stores are struggling to stay in business. For instance, Family Dollar recently announced it will close 1,000 stores over the next several years while 99 Cents Only filed for bankruptcy this year Continue reading →

Product Development, Marketing, Promotions, Entrepreneurship, Pricing, Product Distribution, Supply & Demand, Inflation

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion