Marketing - McGraw-Hill Introduction to Business

Companies Cut Back on “Endless Options” Strategy

November 19, 2024

Hormel makes 71 different kinds of pepperoni. In addition to the widely popular original pepperoni slices, grocery shoppers can also choose diced, thick-sliced, mini-sliced, low-sodium, low-fat, turkey pepperoni, and more. The spin-offs may not sell as well as the original, but they do help to attract customer attention for the overall brand. More products mean more shelf space at stores, which gives customers more opportunities to find and buy Hormel products. The company also hoped this strategy would make shoppers Continue reading →

Food & Drink, Supply & Demand, Product Development, Branding, Marketing, Promotions, Operations Management, Retail, Supply chains, Packaging, Product Distribution

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, Chapter 16: Place and Promotion

Soda Surges in Popularity after Decade-Long Decline

November 12, 2024

NickelsMcHughMcHugh

Nearly ten years ago, soda seemed to be losing its appeal with consumers as public health campaigns warned against sugary soft drinks and schools took soda out of vending machines and off of lunch menus. After per-capita consumption of soda among Americans fell to a new low in 2015, Coca-Cola and Pepsi started expanding their product lines to include diet sodas, flavored water, and energy drinks. With so many healthy choices available, industry insiders began to assume that consumers who Continue reading →

Marketing, Coca-Cola, Product Distribution, Soda, Food & Drink, Supply & Demand, Product Development, Branding, Promotions, Pricing

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

Soaring Chocolate Prices Impact Businesses around the Globe

November 8, 2024

NickelsMcHughMcHugh

A few weeks ago, we looked at how rising cocoa prices led to price increases for chocolate just before the Halloween season. The video below examines this global issue in great detail, from the struggles of cocoa farmers in Ghana to the effects of rising costs both on independent operators and major candy producers like Mars Wrigley.

Questions:

What are some of the issues affecting the livelihoods of Ghanaian cocoa farmers?
How are independent businesses like Li-Lac Chocolates responding Continue reading →

Nobody Knows What to Do with Bankrupt Redbox’s Rental Kiosks

November 5, 2024

NickelsMcHughMcHugh

Redbox launched its video rental kiosk business back in the early 2000s when the industry was still dominated by chains like Blockbuster. While brick-and-mortar stores charged $2 to $5 per night, customers could rent movies at Redbox for just $1 since the kiosks were much cheaper to maintain than physical locations. Customers also liked that Redbox operated 24/7, functioning more like a vending machine than a retailer. By 2007, the company had more U.S. locations than Blockbuster. Redbox peaked in Continue reading →

Rising Costs and Reluctant Customers Hurt Music Festivals

October 29, 2024

NickelsMcHughMcHugh

With sunny weather, beautiful views, and lots of open space, California is one of the country’s most popular settings for music festivals. Thousands of people travel to the Golden State every summer to attend dozens of festivals — including Coachella, the most-attended annual music festival in North America. However, it’s getting more expensive to run a music festival in California as the cost of living keeps going up. Prices for transportation, accommodations, labor, and refreshments have skyrocketed above the typical Continue reading →

Promotions, Entertainment, Marketing, Pricing, Entrepreneurship, Music, Product Distribution, Supply & Demand, Inflation

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

Outbreak at Boar’s Head Disrupts America’s Deli Industry

October 25, 2024

NickelsMcHughMcHugh

Before causing the worst listeriosis outbreak in the U.S. since 2011, Boar’s Head was best known as one of the most recognizable — and most ruthless — deli-meat brands at the supermarket. The company started in 1905, when founder Frank Brunckhorst started selling deli meats out of a horse-drawn carriage in Brooklyn, New York. As it expanded into a $3 billion per year business, Boar’s Head made aggressive moves to protect its reputation for high quality. The company sued competitors Continue reading →

Product Distribution, Marketing, Food & Drink, Operations Management, Ethics, Manufacturing

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

[VIDEO] Why Walgreens And CVS Are Shutting Down Thousands Of Locations

October 24, 2024

NickelsMcHughMcHugh

Walgreens and CVS stores are common sights on American street corners, but in the coming years there will be significantly fewer of them around. The video below takes a detailed look at the recent struggles faced by U.S. pharmacy chains as they plan to shut down thousands of locations nationwide.

Questions:

Why are Walgreens and CVS closing thousands of stores over the coming years? What are some factors that have contributed to their problems?
How can entrepreneurs help prevent “pharmacy deserts”?

Chocolate Prices Are Scarily High This Halloween

October 22, 2024

NickelsMcHughMcHugh

For millions of Americans, Halloween is all about eating candy. And there’s no variety of candy more beloved than chocolate. According to national surveys, the average American’s favorite Halloween candy is a chocolate treat like M&Ms, Snickers, or Reese’s Peanut Butter Cups. But this year, you may notice less chocolate in your family’s trick-or-treat stash. That’s because cocoa prices are at record highs after three years of poor crops. The price of cocoa has doubled since the start of 2024 Continue reading →

Food & Drink, Supply & Demand, Product Development, Promotions, Supply chains, Packaging, Marketing, Product Distribution, Agriculture, Halloween, Holidays

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

23andMe Struggles to Turn Customers Into Subscribers

October 15, 2024

NickelsMcHughMcHugh

Since the discovery of DNA’s structure in the 1950s, scientists have predicted a future where doctors could analyze a patient’s genes to identify and even prevent certain diseases. The medical industry seemed to be moving closer to that goal in 2007 when 23andMe became the first company to release a direct-to-consumer genetic test. Named for the 23 pairs of chromosomes in human DNA, 23andMe analyzed saliva samples from customers to show their ancestry and predispositions to diseases like cancer and Continue reading →

Product Development, Marketing, Pricing, Ethics, Startups, Entrepreneurship, Product Distribution, Subscriptions, Genetics

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

[VIDEO] How Kodak Invented the “Snapshot”

October 10, 2024

NickelsMcHughMcHugh

Photography was once a specialized field where only trained professionals had the expertise to shoot and develop prints. Then in the late 19th century, Kodak released the first of many “point-and-shoot” cameras that would change the industry forever. The video below explores the fascinating history behind the “snapshot” and how technological innovations can bring niche products to a wider market.

Questions:

How did the introduction of point-and-shoot cameras change the photography market?
Do you see any similarities between the Continue reading →