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

[VIDEO] This Incredible Machine Pulls Clean Drinking Water Out of Thin Air

January 20, 2017

Ensuring clean water for everyone on the planet is one of the major environmental challenges facing future generations. In this video, a Chilean engineer demonstrates his invention that draws vapor from the air and turns it into drinkable water. If he succeeds in making the machine smaller and cheaper, it could provide an immense benefit to communities that lack access to clean water.

Questions:

Why does Hector Pino need to continue refining his product?
Once fully developed, should Pino form Continue reading →

Product Development, Sustainability, Global, Product Distribution, Water, Chile

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Videos

Hooked: The Millennial-Minded App That Sends Text Message Stories

January 12, 2017

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As the fast-paced world of social media continues to dominate culture, many have worried that traditional forms of media won’t be able to compete. After all, why pick up a book when you can just read text messages and tweets? Although dedicated readers might find that question shocking, it’s precisely what thousands of people are doing with Hooked, a new app that sends out stories to users in bursts of texts.

Currently the top grossing book app in the iOS Continue reading →

Apps, Social Media, Fiction, Millennials, Hooked, Product Development, Entertainment, Mobile

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

A Legendary Turntable Gets a Luxury Rebranding

January 10, 2017

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If you’ve listened to hip hop or dance music made from the 1980s onward, then you’ve heard the Technics SL-1200 turntable in action. For decades these decks were the preferred hardware for DJs of all skill levels. Although a single turntable could cost between $500 to $700, aspiring selectors saved up their money until they had enough for two. After that, they had equipment for life: the durable SL-1200 could be used for spinning and scratching with little need for Continue reading →

Vinyl Records, Product Development, Branding, Entertainment, Pricing, Music, Panasonic

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

How a Small Adjustment Can Transform a Product

January 5, 2017

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When David Malcolm took over his family’s sprinkler system business in 1992, he intended to run the company the same way that his father had over the last few decades. But that soon changed once he picked up an old project that his dad started just before he died: finding another use for a low-flow sprinkler designed for farming. At first Malcolm thought he solved the problem by installing the sprinkler heads on hoses and using them to patch up Continue reading →

Marketing, Product Development, Health, Sustainability, California

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

[VIDEO] How Much Do Your Favorite Holiday Songs and Movies Make?

December 29, 2016

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As 2016 comes to a close, many people across the country have likely spent the last few weeks immersed in Christmas music and movies. This brief video takes a look at how much money some of these old entertainment properties earn during the festive season, from Frank Capra’s classic It’s a Wonderful Life to Mariah Carey’s perennial hit “All I Want for Christmas Is You.”

Questions:

How did the public domain copyright of It’s a Wonderful Life transform the film Continue reading →

Holidays, Copyright, Entertainment, Music, Movies, Christmas

Chapter 1: Taking Risks and Making Profits, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law, Videos

New Law Protects Consumers’ Right to Leave Negative Feedback

December 13, 2016

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In December 2008, John Palmer ordered some items from the online retailer KlearGear and never received them. His wife Jen responded to this poor service by writing a critical review about the company on a website called Ripoff Report. The incident eventually faded from Palmer’s memory until three years later when she received a demand from KlearGear to take the review down. If she didn’t comply, the company said, they would fine her $3,500 for violating a non-disparagement clause that Continue reading →

Ethics, Regulation, Consumer Feedback, Yelp, Consumer Review Fairness Act, Credit Rating

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 16: Place and Promotion, Bonus Chapter A: Business Law

Drop in ESPN Viewership Has Disney Worried

December 9, 2016

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While a major entertainment conglomerate like Disney has many sources of income, the iconic brand earns the bulk of its revenue from TV networks like ESPN and ABC. This year these channels have brought in nearly $24 billion, exceeding the company’s theme park earnings by 40 percent. But this enormous payout doesn’t tell the whole story about Disney’s TV holdings. For the past few years, subscriptions to its premium channels have dropped significantly, leading to a similar dip in the Continue reading →

Sports, Entertainment, Television, Disney, Product Distribution, ESPN, Cable, Cord Cutting

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

[VIDEO] How China Is Changing Hollywood

December 6, 2016

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Thanks to a rapidly growing middle class, China has transformed into the largest moviegoing market in the world. And while Hollywood is the source for many of the nation’s hit flicks, American filmmakers still face a number of hurdles before they can do business in China. This video looks at the ways Hollywood tries to appeal to Chinese culture in order to break into this tough but rewarding market.

Questions:

What are the advantages and disadvantages of China’s revenue Continue reading →

Product Development, Entertainment, China, Marketing, Product Distribution, Global, Movies

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

Black Friday Shoppers Spend Big Thanks to Deep Discounts

November 29, 2016

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This past weekend the holiday shopping season kicked off with a bang as millions of Americans sought out Black Friday deals both in stores and online. While brick and mortar sales rose about 8 percent from last year, online outlets saw sales increase by 11 percent. According to the National Retail Federation (NRF), this spike in e-commerce can be credited to the more than 108 million consumers who shopped online over the weekend. Meanwhile, approximately 99 million people visited physical Continue reading →

Retail, Pricing, Black Friday, E-commerce, Discounts, Promotions

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

[VIDEO] When Carmakers Taunted Horses

November 22, 2016

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With 43.5 million Americans expected to hit the road for Thanksgiving this year, drivers will likely have to deal with more traffic jams and slowdowns than usual. Then again, at least these dedicated travelers will be making their journey by car rather than on horseback. But while this preference for pedals seems like a no-brainer today, the situation was much different a century ago when automobiles were new and confusing to many consumers. This video shows how carmakers marketed these Continue reading →

Transportation, Marketing, Horses, Product Development, Promotions, Cars

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, Videos