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

[VIDEO] Smartphones Are Designed to Be Addicting

February 23, 2018

If you’ve ever thought that you check your smartphone too much, you’re certainly not alone. In fact, the 2.5 billion people around the globe who currently own smartphones likely share the same problem as you. That’s because tech companies design their products to be as attention-grabbing as possible. Along with detailing the ways that smartphones and apps can monopolize your focus, this video also demonstrates a few techniques to limit your phone use.

Questions:

Is it ethical for tech companies Continue reading →

Ethics, Product Development, Innovation, Smartphones, Mobile

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

L.L. Bean Ends Generous Return Policy

February 13, 2018

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In 1912 Leon Leonwood Bean sold his first 100 pairs of boots to local hunters, promising that the footwear would “give perfect satisfaction in every way.” Soon enough, though, 90 customers brought their boots back after the bottoms became separated from the tops. While Bean nearly went bankrupt providing refunds, he knew that he had to stick to his word in order to regain his customers’ trust. As a result, people continued to support his business, which eventually grew from Continue reading →

Marketing, Ethics, Entrepreneurship, Clothing, Retail, Pricing, L.L. Bean, Maine, Product Returns

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 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] American Shopping Malls Struggle to Survive

February 9, 2018

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Last week, we looked at how property owners are trying to combat the decline of shopping malls by appealing to non-retail tenants like gyms and fitness centers. This video provides more background on this downward spiral, showing footage of American malls thriving in their heyday as well as the decaying, abandoned structures that some have become. But the video isn’t entirely doom and gloom: it also gives a lot of screentime to an Atlanta-area shopping center called Plaza Fiesta that Continue reading →

Retail, Innovation, Demographics, Product Distribution, Malls, Atlanta

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

Licensing Companies Make a Mint from Deceased Celebrities

February 8, 2018

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Earlier this week we looked at how audiences responded both positively and negatively to this year’s lineup of Super Bowl ads. While a number of funny spots seemed to go over well with the public, a Dodge Ram ad prominently featuring a speech by Dr. Martin Luther King Jr. decidedly did not. After the commercial aired, thousands took to social media to condemn the company for stealing the words of such an admired humanitarian. Of course, these critics soon Continue reading →

Marketing, Ethics, Licensing, Copyright, Branding, Entertainment, Advertising, Intellectual Property, Elvis Presley, Marilyn Monroe

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Super Bowl LII Ads Aim for the Funny Bone

February 6, 2018

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Unlike last year’s historic comeback, Tom Brady wasn’t able to turn around the fortunes of his New England Patriots to win Super Bowl LII. The Philadelphia Eagles ultimately left as champions after a thrilling game that saw plenty of action on the field. The tone during the commercial breaks was far less tense, however, as marketers largely relied on humor for 2018’s crop of Super Bowl ads. Among the top spots on USA Today’s annual Ad Meter poll are Continue reading →

Marketing, Ethics, Social Media, Sports, Promotions, Entertainment, Television, Advertising, NFL, Super Bowl

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

The Year Begins Badly for Bitcoin

February 2, 2018

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When we last looked at Bitcoin in December, the cryptocurrency’s price had skyrocketed to about $16,500 after starting the year at just $985. At its peak a couple of weeks later, a single Bitcoin became worth a whopping $19,511. The ever-increasing success of the cryptocurrency and others like it convinced some investors that the future of money was taking shape before their eyes. Many remained wary of Bitcoin’s boom, however, fearing that the bottom could fall out at any time. Continue reading →

Economics, Global, Ethics, Product Development, Innovation, Currency, Regulation, Bitcoin

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Mall Owners Look to Gyms to Fill Empty Space

February 1, 2018

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For decades, malls served as community hubs where people could shop, see a movie, or grab some food all in one convenient location. But the rise of e-commerce and social media caused malls to decline both as retail and recreational centers, leading many to look like ghost towns today. In fact, experts predict that one in every four malls could go out of business by 2022.

In an effort to stay open, mall owners across the country have started appealing Continue reading →

Retail, Location, Product Distribution, E-commerce, Malls, Gyms, Health & Fitness

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

[VIDEO] The Meaning of Life According to Google

January 26, 2018

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More than 90 percent of global Internet searches occur on Google, making it one of the world’s most trusted sources for gathering information. Many of the questions fielded by the site can be solved with a single obvious answer, such as “When is Thanksgiving this year?” or “What is the capital of Canada?” Recently, though, the search engine has begun to provide answers for increasingly abstract inquiries concerning religion, politics, and even the meaning of life. This video takes a Continue reading →

Ethics, Google, Product Development, Innovation, Product Distribution

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

To Reach Amateur Ballerinas, An Entrepreneur Appeals to Professionals

January 25, 2018

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As one might expect from a centuries-old art form, the world of ballet doesn’t adapt to change all that quickly. For instance, many ballerinas depend on a type of pointe shoe designed more than 100 years ago consisting of paper, glue and fabric. While this style is certainly reliable, it can also create a great amount of discomfort or even injury for dancers. After all, the “pointe” in the shoe’s name refers to the ballerina’s need to stand readily on Continue reading →

Marketing, Social Media, Product Development, Promotions, Entertainment, Innovation, Ballet

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 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Procter & Gamble Takes on the “Tide Pod Challenge”

January 23, 2018

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A few weeks ago, Tide’s official Twitter account posted a quick video of New England Patriots star Rob Gronkowski talking about one of the brand’s best-selling products. While this would normally be standard procedure for a company spokesperson, the clip didn’t feature any footage of Gronk encouraging people to buy laundry detergent. Instead, he actively discourages the public from taking part in the “Tide pod challenge,” a dangerous viral dare that centers on ingesting containers of concentrated detergent. “No no Continue reading →

Management, Ethics, Social Media, Product Development, Promotions, Procter & Gamble, Crisis management, Tide

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media