July 10, 2024

Over the last few years, the rise of streaming video has created many problems for the old-school movie studios that once dominated Hollywood. Paramount, for instance, enjoyed more than a century of success as it produced huge film franchises like Top Gun and Mission: Impossible while owning major television networks like CBS, Nickelodeon, and MTV. But Paramount struggled as customers shifted away from movie theaters and traditional cable packages and toward streaming services like Netflix and Amazon. The company tried Continue reading

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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

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June 14, 2024

The fashion startup Rent the Runway seemed destined for long-term success when it launched as an industry-disrupting force in the late 2000s. As this video shows, though, not even a $1 billion IPO could save the company from established competitors and the impact of a global pandemic. 

Questions:

  1. How did the pandemic affect Rent the Runway’s business? 
  2. What advantages do established competitors like Urban Outfitters have over startups like Rent the Runway?
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June 12, 2024

Although some consumers are becoming wary of the rising cost of fast food, there’s one product that a growing number of people are willing to splash extra cash on: candles. Over the last year, Americans have spent $222 million on candles at upscale department stores and beauty retailers as well as online outlets. Sales of candles that cost more than $75 have increased by 25 percent, representing a small but expanding segment of the market. For instance, the singer Continue reading

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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

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Demand for gold has been rising across the globe, defying economists’ expectations and sending prices soaring to new heights. The video below looks at how the gold trade has changed in recent years as everyday consumers enter the market alongside major investors. Costco, for example, sells $200 million worth of gold bars every month to members on the lookout for what they consider to be stable investments.

Questions:

  1. Why have gold prices been rising across the globe recently?
  2. Do you Continue reading
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Memorial Day represents the start of summertime for many Americans, who often use the long weekend to hit the road and go on a trip. According to AAA, that statement will ring especially true this year as a record number of travelers will trek across the country over the coming days. Between Thursday and Monday, an estimated 43.8 million people will travel at least 50 miles, marking a four percent increase over 2023. In fact, this weekend could equal the Continue reading

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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:

  1. How did Red Lobster’s endless shrimp promotion Continue reading
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Business is all about giving the customer what they want, but sometimes it can be difficult to figure out exactly what that is. Some brands get to know their fans by giving them a platform that directly asks for their input, providing companies with much-needed ideas while customers feel included in the development process. For example, in 2008 Lego launched its initiative Lego Ideas where builders submit original designs to be evaluated among a wider community of enthusiasts. If an Continue reading

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A few weeks ago, we examined TikTok’s uncanny ability to provide entrepreneurs with major marketing opportunities at the expense of brand control. The potential downsides of the latter became clear last week when President Biden signed a bill into law that could ban the social network in the U.S. Under the provisions of the bill, which passed both the House and Senate with considerable support, TikTok’s Chinese parent company ByteDance has 270 days to sell the app to an American Continue reading

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