Marketing - McGraw-Hill Introduction to Business

[VIDEO] How a New Generation of Card Enthusiasts Are Transforming a Market

September 24, 2021

Over the course of the pandemic, sports card trading has transformed from a niche hobby to a booming market as people started turning old collections into big money. This video looks at how appraisal companies and online trading platforms have changed collecting forever while attracting the interest of Wall Street investors in the process.

Questions:

How did sports card collecting transform from a fading hobby into a lucrative and vibrant market?
Do you think the market for cards will Continue reading →

Marketing, Ethics, Entrepreneurship, Sports, Entertainment, Product Distribution, Supply & Demand, Stock Market, Securities

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 19: Securities Markets, Videos

Crocs Return to Fashion and Switch to Bio-Based Ingredients

September 17, 2021

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Crocs clogs debuted in 2002 and quickly became a hit with consumers who wanted colorful and leisurely sandals to wear around the house. But soon backlash began to build against this funky foam footwear, as Time magazine in 2010 named Crocs one of the worst inventions ever. Then the pandemic descended on the world and many people stuck in their homes suddenly realized the benefits of wearing inexpensive and comfortable clogs. As a result, Crocs expects sales to increase by Continue reading →

Management, Marketing, Manufacturing, Product Development, Sustainability, Crocs, Coronavirus, Pandemic, Greenwashing

Chapter 1: Taking Risks and Making Profits, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] What One Winemaker’s Pricing Decisions Tell Us About Inflation

September 10, 2021

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Although demand for wine from California’s Napa Valley has never been higher, supply is low across the region after years of drought, wildfires, and then the pandemic disrupted production. This video looks at the inflationary pressures currently weighing on winemakers as they consider whether or not to raise prices on the latest vintages.

Questions:

What inflationary factors are driving winemakers to raise prices on their products?
What are the potential advantages and disadvantages for businesses when they raise prices?

Economics, Marketing, Entrepreneurship, Manufacturing, Labor Relations, Pricing, Product Distribution, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Videos

Cotton Tote Bags Come with a Big Environmental Cost

August 26, 2021

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For years now, many consumers have made an effort to cut down on their use of plastic bags by relying on cotton totes instead. Along with being better for the environment than non-biodegradable, single-use plastic, cotton bags can also serve as walking billboards for any organization that places their logo upon them. As a result, these totes can be spotted in stores the world over, emblazoned with branding from supermarkets, magazines, charities, and radio stations.

But while cotton bags Continue reading →

Marketing, Ethics, Manufacturing, Product Development, 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

Coca-Cola Plans to Change the Flavor of Coke Zero

July 22, 2021

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In the coming months, regular drinkers of the sugar-free soda brand Coke Zero might notice a slight change in the taste of their favorite beverage. According to company officials, the formula for Coke Zero will be altered in order to “deliver an even more iconic Coke taste.” While this might seem like a relatively harmless change, any alteration to a Coca-Cola product draws plenty of public scrutiny after the company’s disastrous launch of “New Coke” in the 1980s.

Back then, Continue reading →

Marketing, Social Media, Product Development, Promotions, Advertising, Coca-Cola, Product Distribution, Food & Drink

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

Some Smartphone Apps Access Users’ Contact Lists

July 15, 2021

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Those who have concerns about privacy on smartphones often focus on apps that track users’ internet browsing history or even their movements through GPS. But while such violations of privacy are becoming more well-known to users, many others appear to be unaware that some apps have open access to their contact lists. For instance, therapist Gabriela Buendia was shocked to discover that the payment app Venmo had shared a list of her phone contacts as well as data about everyone Continue reading →

Marketing, Ethics, Entrepreneurship, Social Media, Silicon Valley, Startups, Security, Privacy, Data Collection

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Bonus Chapter B: Technology and New Media

Companies Highlight Stress-Relief in New Products and Marketing

July 14, 2021

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The uncertainty and strain of the coronavirus pandemic caused a significant uptick in stress among millions of people across the country. According to a survey conducted by the CDC, nearly one-third of Americans said that they had recently experienced symptoms of depression or anxiety. In 2019, that number sat at just 11 percent.

As a result, companies are making sure to emphasize stress-relief and wellness in their marketing campaigns and as features of new products. For instance, Lincoln is Continue reading →

Marketing, Ethics, Product Development, Promotions, Advertising

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

Sales of Subscription Services Skyrocketed during the Pandemic

June 24, 2021

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Last year, companies across all industries scrambled to figure out how to continue doing business during the coronavirus pandemic. As time went on, subscription services proved to be dependable profit sources given that they required customers to provide regular payments every month. Subscriptions to streaming platforms like Netflix and Disney Plus skyrocketed in 2020 while many restaurants also found success with membership models.

For instance, in early 2021 six eateries in the Washington, D.C., area joined forces to create Continue reading →

Marketing, Entrepreneurship, Product Development, Promotions, Product Distribution, Food & Drink, Subscriptions, Coronavirus, Forms of Business, Pandemic

Chapter 1: Taking Risks and Making Profits, 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

Coca-Cola Stock Plummets following Soccer Star Snub

June 17, 2021

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After a year-long delay due to the pandemic, the UEFA European Football Championship is finally taking place across the continent until mid-July. Along with giving sports fans a smorgasbord of summertime soccer to watch, the Euro tournament also provides major brands with a golden opportunity to reach captive global audiences. But as Coca-Cola found out this week, sometimes grabbing attention on such a large stage can backfire big time.

On Monday, the Portugese superstar Christiano Ronaldo held a press Continue reading →

Marketing, Global, Sports, Europe, Promotions, Entertainment, Advertising, Spokespeople, Celebrities

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

McDonald’s BTS Meal Causes Global Frenzy

June 15, 2021

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In fall 2020 McDonald’s launched the Travis Scott meal, a branded partnership that significantly boosted sales at the fast food chain and earned more than $20 million for the rapper himself. The success of this promotion led to more collaborations with recording artists, including McDonald’s latest branded venture with the South Korean pop group BTS. According to observers, U.S. sales of the BTS meal are currently outpacing last year’s Travis Scott promotion, with restaurant visits up 12 percent from the Continue reading →

Marketing, Global, Ethics, Promotions, Entertainment, Music, Product Distribution, Asia, Coronavirus, Pandemic

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion