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

Hollywood Rediscovers the Profitable Magic of Movie Theaters

April 18, 2023

The onset of the Covid-19 pandemic in 2020 changed the movie exhibition industry forever, as theaters around the country closed their doors and streaming services racked up millions of new subscribers. At the time, some experts predicted that platforms like Netflix and Disney+ would take over the attention of moviegoers entirely as theaters gradually faded into obscurity. In the years that followed, though, the enthusiasm surrounding streaming has started to taper off as these services continue to mount up debt Continue reading →

Entertainment, Marketing, Movie theaters, Product Distribution, Promotions, Streaming

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

[VIDEO] How The Oldest Chocolate House In New York Manages to Thrive

March 30, 2023

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The video below takes a long look at Li-Lac Chocolate, the oldest chocolate house in New York that thrives by doing things the old fashioned way. Along with observing their unique production processes, this video examines how Li-Lac made it through the pandemic to continue its century-long tradition.

What value do the antique chocolate molds owned by Li-Lac Chocolates give to the company?
How did the pandemic affect business at Li-Lac Chocolate?

Entrepreneurship, Food & Drink, Manufacturing, Marketing, Operations Management, Pandemic, Product Development, Product Distribution, Supply & Demand

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Videos

[VIDEO] Why is Everything Getting So Expensive?

March 10, 2023

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Prices on everyday products like groceries and diapers have increased dramatically in the last couple of years, with inflation often being identified as the culprit. This video takes a close look at the potential causes of the post-pandemic trend of rising inflation, examining why supply chain issues and plain old markups could be responsible for ever-increasing prices.

Questions:

What are the potential causes of inflation outlined in this video? Which factor do you think is the most likely cause Continue reading →

[VIDEO] How Commodity Markets Work

March 3, 2023

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Florida’s orange crop is shrinking year after year, sending commodity prices skyrocketing for orange juice concentrate. This video examines the intricacies of commodity markets through the lens of concentrated OJ, looking at concepts like futures contracts and how they affect both farmers and retailers.

Questions:

Why has Florida’s plummeting orange production caused juice prices to increase significantly?
What are the benefits of futures contracts for farmers and manufacturers?

Agriculture, Commodities, Food & Drink, Operations Management, Pricing, Product Distribution, Retail, Supply & Demand

Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Videos

The Tricky Task of Monetizing Esports

February 24, 2023

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This week, the esports talent agency GameSquare announced that it hired Tyler “Ninja” Blevins as its Chief Innovation Officer. A famous Fortnite streamer with more than 17 million followers on the platform Twitch, the company said Ninja will “curate disruptive strategies, pursue new business opportunities, and explore next-gen technologies to accelerate the [e-sports] industry’s growth within pop culture.” This will also give Ninja another source of revenue besides streaming, which he claims to earn $500,000 a month from while keeping Continue reading →

[VIDEO] Making 100,000 Bagels a Week by Hand

February 22, 2023

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While last week we looked at how Domino’s relies on automation to mass produce its pizza dough, today’s video examines the operations at a company that takes the opposite approach. At Utopia Bagels in New York City, a well-trained staff of specialists make thousands of bagels by hand every day, all driven by a passionate owner whose love for his craft comes through in this video.

Questions:

What are the advantages and disadvantages of making bagels entirely by hand?
What Continue reading →

Entrepreneurship, Marketing, Motivation, Operations Management, Product Development, Product Distribution, Specialized labor, Supply & Demand, Training

Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Videos

[VIDEO] How Domino’s Became The World’s Biggest Pizza Chain

February 17, 2023

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With thousands of locations across more than 90 international markets, Domino’s has become a global powerhouse thanks largely to its innovative production and distribution methods. This video takes an extensive look at how Domino’s makes pizza, focusing especially on a dough-making facility that relies heavily on automation to succeed.

Questions:

Why did Domino’s install automated systems in its Indiana dough-making facility?
Do you think more food companies should rely on automation like Domino’s? Why or why not?

Automation, Domino’s, Food & Drink, Global, Operations Management, Product Development, Product Distribution

Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Videos

Dog Food Brand Tops USA Today’s Super Bowl Ad Poll

February 14, 2023

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When it comes to Super Bowl ads, there are two factors that usually help companies stand out from the rest of the pack: making people laugh, or failing that, being such a big brand that people cannot help but think of your ad after the game. This year, though, the spot that took first place in USA Today’s annual Ad Meter poll did not try for comedy, nor did it come from a major company that routinely tops the list. Continue reading →

Advertising, Branding, Entertainment, Marketing, Sports, Super Bowl

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits

[VIDEOS] Budweiser Will See Its First Super Bowl Competition in 33 Years

February 8, 2023

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In 1989, Anheuser-Busch signed an agreement with the NFL giving the brewer exclusive rights to advertise alcohol nationally during the Super Bowl. After 33 years of having a monopoly over big game beer ads, however, AB InBev decided not to renew their license this year. And as the video below shows, the field is now wide open for companies like MillerCoors to reach a big national audience that has previously been unavailable to them.

Questions:

Do you think it was Continue reading →

Advertising, Branding, Entertainment, Food & Drink, Marketing, Sports, Super Bowl

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Videos

[VIDEO] Why Lego Is Way More than a Toy Company

February 3, 2023

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Lego grew to be the world’s largest toymaker by appealing to many different kinds of customers, from kids and collectors to corporations looking for fun team-building activities. The Danish company manages to reach lots of people by licensing popular properties like Stars Wars and Marvel for a range of content like movies, TV shows, and video games. This video looks at how Lego drives toy sales by branching out into entertainment that reinforces its brand and grows its customer Continue reading →

Branding, Entertainment, Global, Lego, Licensing, Marketing, Movies, Television

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Videos