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

Is Your Dog Ready to Go Meatless?

April 26, 2018

Americans spend roughly $30 billion each year on food for their dogs. As millennials have grown to be the top dog-owning demographic, they’re changing the way our furry friends eat. The growing trend, at first created for humans and now for pets, is to increase foods’ nutritional value while also keeping food sources environmentally sustainable.

American dogs are the fifth highest consumers of meat in the world. In addition, pets are responsible for 64 million tons of greenhouse gasses each Continue reading →

Entrepreneurship, Food, Product Development, Innovation, Sustainability, Synthetic Meat, Pets

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

It’s a Hard Time to Be a Clown

April 13, 2018

NickelsMcHughMcHugh

Way back in 2014, we looked at how changing tastes had led to declining interest in the art and business of clowning. Unfortunately for these red-nosed entertainers, matters haven’t improved much in the following years. In fact, 2017 may have marked an all-time low for American clowns. Not only did the Ringling Bros. circus shut down after nearly a century and a half in operation, but also McDonald’s ended its regional Ronald McDonald program. Without the work that these Continue reading →

Marketing, Entrepreneurship, Entertainment, Clowns, Public Opinion

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 16: Place and Promotion

Farmers Find a New Purpose for Alpacas

April 3, 2018

NickelsMcHughMcHugh

With their fuzzy frames and quizzical expressions, alpacas might be one of the world’s goofiest looking animals. Of course, these llama-like creatures have much more to offer than just their funny faces. Alpaca fleece ranks as one of the finest textile materials available, similar to sheep’s wool only warmer and without any prickliness. In the 1990s these key qualities fueled a boom in alpaca fleece production that also encouraged many Americans to purchase their own animals for breeding. Once called Continue reading →

Economics, Marketing, Entrepreneurship, Product Development, Innovation, Agriculture

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price

How Streaming Apps Could Backfire Against TV Networks

March 29, 2018

NickelsMcHughMcHugh

The runaway success of Netflix has proved to many media companies that the future of entertainment lies with streaming content. After all, why pay around $75 a month for cable when you can instantly access thousands of titles on Netflix for a fraction of the cost? This thinking has led to the creation of dozens of streaming services, ranging from big players like Hulu and YouTube TV to more specialized operations like the apps for Food Network or the WWE. Continue reading →

Product Development, Entertainment, Innovation, Netflix, Streaming, Television, Disney, Product Distribution

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

Ebook Sales Have Been Slumping since 2015

March 16, 2018

NickelsMcHughMcHugh

As we saw yesterday with the sad state of Toys ‘R’ Us, the last few years have not been kind to brick-and-mortar retailers. The rise of online commerce has encouraged an increasing number of consumers to do their shopping at home, leaving many companies worried that they could be the next to go under. But while this is a new feeling for some, others like independent bookstore owners have had to deal with such fears for a long time. Continue reading →

Entrepreneurship, Product Development, Retail, Innovation, Product Distribution, E-commerce, Books

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

Toys ‘R’ Us Plans to Close or Sell All of Its U.S. Stores

March 15, 2018

NickelsMcHughMcHugh

Last year, we looked at how Toys ‘R’ Us filed for bankruptcy after struggling for more than a decade with increasing competition and crushing debt. And while its future didn’t seem particularly bright at the time, the retailer at least had a plan in place to stay afloat in the short term. Along with taking out a massive loan to buy stock for the Christmas season, the company also claimed it had no plans to close any stores.

This relatively Continue reading →

Retail, Amazon, Legal, Product Distribution, Bankruptcy, E-commerce, Debt, Toys ‘R’ Us

Chapter 1: Taking Risks and Making Profits, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

McDonald’s Has Some Big Changes Planned for 2018

March 13, 2018

NickelsMcHughMcHugh

Last week McDonald’s scored a major marketing hit when the company flipped its famous Golden Arches into a “W” in honor of International Women’s Day. But the logo is far from the only thing the burger chain plans to turn upside down in 2018. In an effort to appeal to environmentally conscious consumers, McDonald’s recently announced some big changes that will make it more sustainable. Along with getting rid of styrofoam cups, the chain is also switching to fresh beef Continue reading →

Operations Management, Ethics, Food, Fast food, McDonald’s, Supply chains, Packaging, Sustainability, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

How a Janitor Invented Flamin’ Hot Cheetos

March 2, 2018

NickelsMcHughMcHugh

A good idea can come from anywhere. Whether the inspiration is drawn from years of research or a sudden flash of brilliance, the best organizations know how to spot new concepts and bring them to life no matter their source. That’s why in the 1990s the then-CEO of Frito-Lay sent a video message to his employees encouraging them to speak up if they had something to contribute. “We want every worker in this company to act like an owner,” said Continue reading →

Management, Motivation, Entrepreneurship, Food, Product Development, Frito-Lay

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 14: Product and Price

Levi’s Adds Lasers to Its Production Line

March 1, 2018

NickelsMcHughMcHugh

Levi Strauss started selling blue jeans more than 100 years ago to miners and farmers who appreciated how long the pants could last under tough conditions. And while today’s consumers love the distressed look that denim achieves with a lot of wear, they don’t exactly want to toil in a mine in order to scuff up their jeans properly. Instead, over the years Levi’s has done all the fraying, fading and ripping themselves in a time-consuming process. Besides taking about Continue reading →

Manufacturing, Clothing, Product Development, Automation, Production, Efficiency, Levi’s

Chapter 1: Taking Risks and Making Profits, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media

Anticipating a Price Hike, Taiwanese Shoppers Stock up on Toilet Paper

February 27, 2018

NickelsMcHughMcHugh

Last week, we took a look at the logistical nightmare that caused hundreds of British KFCs to close due to a lack of chicken. And while the company seems to have solved this issue for now, another strange supply chain problem is frustrating consumers halfway around the world. This time, however, the product in question is a bit more essential to daily life than fried chicken.

Over the weekend in Taiwan, panicked shoppers rushed to stores so they could purchase Continue reading →

Operations Management, Global, Ethics, Social Media, Pricing, Supply chains, Product Distribution, Crisis management, Taiwan

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media