Chapter 14: Product and Price - McGraw-Hill Introduction to Business

[VIDEO] How Subscription Services Became So Common

May 30, 2019

From music and movies to everyday items like clothes and toilet paper, today’s consumers can order all sorts of products through monthly subscription services. But as more companies adopt this sales strategy, it’s possible that consumers could get tired of subscriptions once all the monthly fees start stacking up. This video looks at why these services have become so widespread and offers advice for consumers who feel they’ve taken on too many subscriptions.

Questions:

Why are more companies starting to Continue reading →

Marketing, Pricing, Innovation, Product Distribution, Subscriptions

Chapter 1: Taking Risks and Making Profits, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Videos

[VIDEO] Face It, You’re Being Watched

May 24, 2019

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Whether you realize it or not, companies and organizations across the country are employing facial recognition technology for all sorts of purposes. The video below looks at the various uses for this controversial new tech and why many people are wary about its quick expansion into everyday life.

Questions:

What are the potential advantages and disadvantages of using facial recognition technology in everyday life?
Do you think Microsoft and Amazon should sign the Safe Face Pledge? Why or why not?

Global, Ethics, Product Development, Innovation, Facial Recognition

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media, Videos

Uber IPO Flops in First Days

May 14, 2019

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On Friday we looked at how Uber drivers around the world went on strike in the lead up to the company’s highly anticipated initial public offering (IPO). In the years before it debuted on the New York Stock Exchange, Uber was once valued at more than $120 billion by private investors. But just a few days into its IPO, however, the company is now worth about half that amount. On its first day of trading, Uber shares opened at $3 Continue reading →

Entrepreneurship, Product Development, Investing, Wall Street, IPO, Stock

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Chapter 19: Securities Markets

Daimler Pulls Smart Cars from North American Markets

May 7, 2019

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If you’ve never seen a tiny Smart car puttering around the streets of your town, then you’re certainly not alone. The American public have taken little interest in these subcompact, battery-powered two seaters, with the German automaker selling less than 1,200 of its Fourtwo model in 2018. That’s why Smart’s parent company Daimler recently announced it would stop selling the car in the U.S. and Canada after this model year.

“Micro-cars” like these “make sense when you have small roads Continue reading →

Marketing, Global, Product Development, Europe, Innovation, Transportation, Sustainability, Product Distribution, Electric cars

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

Critical Errors Cause Samsung to Delay Launch of Galaxy Fold

April 25, 2019

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Last week, Samsung sent review copies of its new Galaxy Fold smartphone to the nation’s top tech publications in anticipation of its official release. Unlike standard smartphones, the Galaxy Fold can expand to a 7.3 inch display thanks to a hinge connected to a small exterior touchscreen. But according to critics, this unique folding feature led to all sorts of technical problems.

Some reviewers peeled off a “protective layer” placed over the Galaxy Fold’s screen that they mistook for a Continue reading →

Marketing, Product Development, Smartphones, Mobile, Reputation, Samsung

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

Glossier Changes Packaging after Social Media Outcry

April 23, 2019

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From the robin’s egg-blue boxes at Tiffany to Coca-Cola’s classic glass bottles, packaging has long played a role in the success of many well-known brands. In fact, it’s become even more important in today’s social media-driven business environment. Along with catching the eyes of passing shoppers in stores, a product’s packaging must also be bold enough to grab the attention of scrolling Instagram, YouTube, and Reddit users. In the last few years, these platforms have been flooded with “unboxing” videos Continue reading →

Marketing, Ethics, Social Media, Product Development, Branding, Packaging, Sustainability, Product Distribution

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

Fisher-Price Shocks Parents with Rock ‘n Play Recall

April 19, 2019

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For more than a decade, the Fisher-Price Rock ‘n Play Sleeper has been a staple product for many new parents. This vibrating, cloth-covered cradle allows a baby to lay at an incline while rocking back and forth, helping them sleep as well as soothing symptoms like congestion and acid reflux. So it came as a major shock to many parents last week when Fisher-Price announced that it was recalling more than 5 million Rock n’ Plays.

The American Academy of Continue reading →

Ethics, Product Development, Product Distribution, Crisis management, Reputation, Fisher-Price, Product Recall

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Amazon Employees Can Listen to What Customers Tell Alexa

April 16, 2019

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Last year consumers around the globe purchased more than 78 million smart speakers like the Amazon Echo. The e-commerce giant’s hit product is powered by Alexa, a voice-activated digital assistant that can respond to spoken commands. For example, ask Alexa what the weather is like and she will respond with the temperature as well as the chance for rain. In its marketing materials, Amazon says that Alexa “lives in the cloud and is always getting smarter.” But while many customers Continue reading →

Global, Ethics, Product Development, Amazon, Internet of Things, Alexa

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media

Fake Influencers Can Cost Companies Millions of Dollars

April 12, 2019

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By 2020, experts estimate that companies could pay social media influencers as much as $10 billion annually to market products online. These Internet personalities leverage their enormous followings on platforms like Instagram to earn big money through sponsored content. For instance, last year a British fashion influencer named Jess worked with 22 brands, charging $1,000 for every sponsored post that went out to her more than 230,000 Instagram followers.

But while the money that marketers paid Jess was real, the Continue reading →

Marketing, Ethics, Social Media, Branding, Promotions, Instagram, Fraud, Influencers

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Microsoft Closes eBook Store and Takes Customers’ Books with It

April 9, 2019

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Last week Microsoft announced that its eBook platform would soon close down. This news didn’t really come as a shock to many in the business world since the company struggled from the start to attract a dedicated audience of readers. First of all, Microsoft tied the platform exclusively to its Edge web browser, which accounts for only 4.4 percent of the total browser market. The company’s e-reader app also launched without key features such as highlighting, sticky notes, and titled Continue reading →

Ethics, Product Development, Licensing, Retail, Legal, Product Distribution, eBooks, Microsoft

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law