Product Development - McGraw-Hill Introduction to Business

Meal-Kit Companies Face an Uncertain Future

June 8, 2017

For those who don’t want to take a trip to the grocery store or dine out, meal-kit startups like Blue Apron and HelloFresh bring dinner right to your doorstep. These companies place all the ingredients you need into a box along with detailed instructions about how to prepare your meal. And thanks to incessant advertising through new media platforms like podcasts, meal-kit startups have seen interest from consumers increase year after year. In fact, Blue Apron has been so successful Continue reading →

Marketing, Food, Product Development, Product Distribution, E-commerce, Blue Apron, Subscription Services

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 19: Securities Markets

Fidget Spinners May Be Fun, But They Aren’t Helpful

June 6, 2017

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In the proud tradition of pet rocks and Beanie Babies, fidget spinners have recently become the hottest fad product on the market. These tiny toys feature three prongs that whirl around a ball-bearing equipped center, creating something that looks like a little ceiling fan that spins in your hand. Some even sport multi-colored lights so you can dazzle all your jealous friends. They’re available to purchase almost everywhere and have become ubiquitous in schools across the country, much to the Continue reading →

Marketing, Ethics, Product Development, Education, Fidget Spinners, Fads

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

Amazon Carefully Develops Its Drone Delivery Program

May 19, 2017

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In 2013 Amazon announced a bold new venture: a drone delivery service that could bring products to customers within 30 minutes. Three years later, the e-commerce giant completed its first Amazon Prime Air delivery during a trial run in Great Britain. Of course, the company still has a long way to go before its drones are ready to take flight in great numbers. Along with figuring out many technical details, Amazon must also deal with regulations that limit where drones Continue reading →

Global, Product Development, Innovation, Regulation, Transportation, Amazon, Product Distribution, Drones

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Lyft Partners with Google’s Waymo on Self-Driving Cars

May 16, 2017

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Self-driving vehicle technology has improved so much in recent years that the concept is no longer a futuristic fantasy. As automated driving becomes more refined, companies have begun to move out of the research phase and on to developing commercial strategies. Waymo, for instance, became a company in December 2016 after eight years of autonomous vehicle research by its parent Google. During that time, Waymo says that its vehicles logged more than 3 million miles driving in the real world. Continue reading →

Google, Product Development, Innovation, Transportation, Automation, Uber, Lyft, Self-Driving Cars

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Lab-Made Meat Could Be the Future of Food

May 11, 2017

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According to estimates from the U.N., by 2050 the global food industry will need to produce 455 million tons of meat annually in order to keep up with demand. Today’s meat makers already produce 259 tons per year, leaving behind an enormous environmental impact in the process. More than 70 percent of the world’s water consumption comes from meat and dairy production along with 38 percent of land use and 19 percent of global greenhouse gas emissions. Environmentalists fear that Continue reading →

Food, Product Development, Innovation, Packaging, Sustainability, Synthetic Meat

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, Bonus Chapter B: Technology and New Media

Restaurants Add Locations But Lose Customers

May 9, 2017

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While retailers have seen sales drop in the years since the Great Recession, restaurants have largely enjoyed a boom time. American eateries benefitted from a shift in consumer spending habits away from products and towards “experiences” like meals and travel. And as demand increased, so did the supply of restaurants. Chipotle, for instance, has added 57 stores so far this year on top of the 240 locations it opened in 2016.

The burrito chain’s aggressive expansion is even more astounding Continue reading →

Economics, Food, Product Development, McDonald’s, Chipotle, Product Distribution, Supply and Demand, Restaurants, Subway

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 17: Accounting

Snapchat Partners with TV Companies for Original Content

May 5, 2017

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With 158 million users and a $25 billion valuation, the photo and video sharing app Snapchat has grown into one of the most powerful social networks around. Still, just because the app is popular doesn’t mean it’s guaranteed to become a moneymaker. Twitter, for instance, has more than 300 million users and has struggled to be profitable for years. So in order to become a true tech giant, Snapchat is teaming up with old media firms to create original content Continue reading →

Marketing, Social Media, Product Development, Entertainment, Television, Product Distribution, NBC, Snapchat

Chapter 1: Taking Risks and Making Profits, 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

An Expensive Musical Festival Turns into a Disaster

May 2, 2017

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For many attendees of today’s big music festivals, enjoying an interesting atmosphere is often just as important as watching what’s happening on stage. After all, these events don’t happen in a vacuum: festivals like Coachella are endlessly documented through Instagram and other social media platforms. From the fancy food trucks to famous people casually milling about the crowd, music festivals offer no shortage of material to liven up anyone’s feed.

Last weekend’s Fyre Festival promised to be the most Instagrammable Continue reading →

Marketing, Ethics, Product Development, Entertainment, Advertising, Music, Coachella, Fyre Festival

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

The $400 Juicer That Doesn’t Live Up to the Hype

April 21, 2017

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Last year, the startup Juicero surprised many in the tech world by becoming one of the industry’s most talked about gadget companies. Venture capitalists invested more than $120 million in the enterprise based on the promise of its $400 Internet-enabled juicing machine. Working sort of like a Keurig coffee maker, the device uses single-serving packets of chopped fruits and vegetables to make cold-pressed juice. Just insert a packet, press a button, and out comes a refreshing beverage without any fuss. Continue reading →

Ethics, Food, Silicon Valley, Product Development, Innovation, Word of Mouth, Juicero

Chapter 1: Taking Risks and Making Profits, 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] Inside the Pantone Color Factory

March 14, 2017

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While identifying colors might seem like a simple preschool task to some, it’s a serious job at the Pantone color factory. This company creates color guides that act sort of like dictionaries for artists and designers. In order to create consistent colors every time, Pantone depends on eagle-eyed employees to check for flaws. Along with these dedicated staffers, this video also shows some of the machines used by Pantone to create such vivid hues.

Questions:

Why does Pantone require Continue reading →

Motivation, Operations Management, Product Development, Production, Pantone, Design

Chapter 9: Production and Operations Management, Chapter 10: Motivation, Chapter 14: Product and Price, Videos