Food & Drink - McGraw-Hill Introduction to Business

Fourth of July Cookouts Could Cost More this Year

July 2, 2024

In a few days, millions of Americans will ignite their grills and barbecue up a storm in a grand Independence Day tradition enjoyed from coast to coast. Thanks to inflation, though, this year’s celebrations may be pricier than in years past. While Fourth of July favorites like hot dogs and potato salad remain affordable, prices for items like ground beef, pork chops, and lemonade have risen dramatically.

According to the American Farm Bureau Federation (AFBF), an average cookout for 10 Continue reading →

Pricing, Product Distribution, Agriculture, Marketing, Holidays, Operations Management, Food & Drink, Supply & Demand

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

Cash-Strapped Consumers Label Fast Food as a Luxury

June 5, 2024

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The fast food industry has long depended on affordability as one of its key selling points, offering customers quick meals that are easy on their wallets. Those days might be in the past, however, as inflation and other factors have sent fast food prices soaring in recent years. According to Finance Buzz, average prices at the country’s most popular chains have increased by as much as 100 percent over the last decade. The 31 percent rise in inflation over the Continue reading →

Product Distribution, Marketing, Food & Drink, Supply & Demand, Inflation, Promotions, Pricing, Fast food

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

[VIDEO] How Endless Shrimp Almost Sank Red Lobster

May 10, 2024

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In the late 1990s, the seafood chain Red Lobster was one of the fastest growing restaurants in the nation as it earned billions of dollars in annual revenue from more than 700 locations. As the years went by, though, poorly planned promotions and wider economic factors took their toll on the company. This video looks at how the pandemic and an endless shrimp promotion brought Red Lobster to the brink of bankruptcy.

Questions:

How did Red Lobster’s endless shrimp promotion Continue reading →

Marketing, Product Development, Social Media, Promotions, Pricing, Product Distribution, Food & Drink, Supply & Demand, Inflation, Pandemic

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] Meal Kit Companies Struggle to Keep Customers

March 29, 2024

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Although meal kit services like HelloFresh and Blue Apron both enjoyed a boom in business during the pandemic, only one of those companies continues to thrive today. The video below explores the growing dominance of HelloFresh in the meal kit industry even as it struggles to keep customers, who mainly tend to cancel their subscriptions once the sign-on deals end.

Questions:

What are the benefits and drawbacks of HelloFresh’s strategy of using discounts to attract customers?
Why is it Continue reading →

Product Distribution, Food & Drink, Supply & Demand, Marketing, Product Development, Operations Management, Promotions, Entrepreneurship, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Videos

Canadian Maple Syrup Reserve Hits Historic Low

March 27, 2024

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If you enjoy pouring maple syrup over your pancakes on a Saturday morning, then you have Canada to thank for it. The North American nation accounts for 75 percent of the world’s maple syrup production, with the vast majority coming from the province of Quebec. Along with serving as home for 90 percent of Canada’s maple syrup industry, Quebec is also the location of the country’s syrup reserve. This facility is designed to hold as much as 133 million pounds Continue reading →

Canada, Product Distribution, Food & Drink, Supply & Demand, Operations Management, Global

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 14: Product and Price

[VIDEO] Why Filming Fast Food Commercials Can Cost a Fortune

February 21, 2024

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Fast food companies pour billions of dollars into marketing every year, and a big portion of those costs come from expensive video shoots for commercials. This video takes a detailed look at the extraordinary skill that goes into seemingly simple fast food ads, from hand-painting burger patties to moving items precisely with the help of robot technology.

Questions:

1. Why do fast food companies spend so much money to make their menu items appear realistic on camera?
2. How does Continue reading →

Advertising, Social Media, Automation, Robotics, Promotion, Food & Drink, Marketing, Product Development, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media, Videos

Food Prices Remain High Even as Inflation Falls

February 7, 2024

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American consumers first encountered rising prices shortly after the pandemic, when supply chain problems and labor shortages sent costs soaring for all sorts of goods. Fortunately, prices have finally started to fall again for products like appliances, used cars, and gasoline as well as services like health insurance. Still, inflation has not decreased evenly across the board, and the prices for some goods remain stubbornly high. Perhaps the clearest example of increasing costs occurs at the grocery store, where food Continue reading →

Operations Management, Pricing, Global, Product Distribution, Ethics, Food & Drink, Supply & Demand, Inflation, Pandemic

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Century-Old Stanley Becomes a Social Media Sensation

January 31, 2024

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Founded in 1913, the Stanley company has sold steel-insulated mugs for more than a century, operating for much of that time as a niche brand with a small but loyal customer base. Over the last few years, however, Stanley tumblers have become ubiquitous products thanks to the company’s canny use of social media. Their brightest moment in the spotlight happened last November when a TikTok user posted a video showing how her Stanley mug survived a car fire with the Continue reading →

Product Distribution, Food & Drink, TikTok, Marketing, Ethics, Entrepreneurship, Social Media, Product Development, Manufacturing, Promotions

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

American Fast Food Chains Thrive in France

January 26, 2024

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France is known the world over for its outstanding culinary traditions, from sidewalk cafes and refined bistros to lavish bakeries brimming with croissants and macarons. But in recent years, these institutions have faced increasing competition from American fast food chains that are especially popular among young consumers. For example, last month more than 500 hungry Parisians lined up before the doors opened at the city’s first Krispy Kreme location. “The French love American products, and there’s a hype around American Continue reading →

Entrepreneurship, France, Product Distribution, Food & Drink, Supply & Demand, Krispy Kreme, Marketing, Product Development, Global, McDonald’s

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

[VIDEO] How Aldi Shapes Its Stores for Success

January 19, 2024

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The German company Aldi is the fastest growing grocery chain in the U.S., expanding at a rate of about 100 stores a year. The following video explains how Aldi keeps prices low by stocking a limited number of products and designing stores for maximum efficiency.

Questions:

How do Aldi’s store layouts help the company keep expenses low?
Why does Aldi stock significantly fewer products than most supermarkets?

Marketing, Product Development, Global, Pricing, Entrepreneurship, Product Distribution, Food & Drink, Supply & Demand, Aldi

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Videos