Social Media - McGraw-Hill Introduction to Business

YouTubers Sign Multi-Million Dollar Deals with Investors

April 24, 2024

In 2009, five students at Texas A&M University began posting videos to YouTube where they would sink seemingly impossible basketball shots with ease. Their channel Dude Perfect developed a massive fanbase in the years that followed, boasting more than 60 million subscribers and over 17 billion views. This huge audience attracts both marketers and investors alike: along with earning millions annually through ads on YouTube, Dude Perfect recently signed a deal with the financial firm Highmount Capital. Reports indicate that Continue reading →

Product Development, Marketing, Entertainment, Entrepreneurship, Advertising, Social Media, Product Distribution, YouTube

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

Universal Music Group Removes Tunes from TikTok

March 8, 2024

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On February 1st, Universal Music Group (UMG) allowed its licensing deal with TikTok to expire after accusing the platform of providing insufficient payments to artists. In an angry letter, the music giant said that the video-sharing app was “flooded with A.I.-generated recordings,” which diluted the pool of potential revenue for legitimate artists. As a result, TikTok removed all music affiliated with UMG from its platform, a drastic move that escalated in severity last week. After failing to make any progress Continue reading →

Marketing, Licensing, Global, Pricing, Ethics, TikTok, Social Media

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, Bonus Chapter B: Technology and New Media

[VIDEO] Why People Use AI More Often than They Realize

March 1, 2024

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While high-profile AI platforms like ChatGPT and Microsoft’s Image Creator may grab lots of headlines, millions of people already interact with AI on a regular basis in ways they may not expect. This video looks at how machine-learning techniques are built into everything from email to Spotify and why it’s important for consumers to stay aware of the growing ubiquity of AI in their everyday lives.

Questions:

1. Why do you think many consumers are unaware of the prominence of Continue reading →

Ethics, Product Distribution, Social Media, AI, Product Development, Global, Automation

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Wendy’s Raises the Internet’s Ire with Dynamic Pricing Plan

February 28, 2024

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Public companies use earnings calls to share information about their recent performance with shareholders and the media. News from these announcements rarely leaves the confines of the business press, but that was not the case yesterday when social media users heard an earnings call comment about the fast food chain Wendy’s. CEO Kirk Tanner mentioned that the company was planning to test “more enhanced features like dynamic pricing and day-part offerings along with AI-enabled menu changes and suggestive selling.”

Articles Continue reading →

Marketing, Ethics, Product Development, Social Media, Pricing, Product Distribution, Supply & Demand, Surge pricing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, 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

[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 →

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

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

Spending $7 Million on a 30-Second Super Bowl Ad

February 13, 2024

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More than 113 million people tuned into Super Bowl LVIII on Sunday, a staggering audience that is increasingly rare these days. “In this era of fragmentation, the Super Bowl is what television used to be,” said media analyst Brad Adgate. Of course, these viewers are a potential goldmine for advertisers, who must pay a small fortune for the chance to grab the public’s attention on this massive stage. The going rate for a 30-second spot on this year’s broadcast was Continue reading →

Sports, Promotions, Marketing, Entertainment, Social Media, Advertising, Super Bowl, Supply & Demand

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

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 →

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

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

“Barbenheimer” Bonanza Boosts the Economy

July 28, 2023

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Last weekend, the highly anticipated summer movie Barbie opened in theaters to rave reviews and huge ticket sales, earning $162 million in just a few days. Of course, Barbie wasn’t the only film to make a splash at the box office: the 3-hour long drama Oppenheimer also enjoyed a big weekend with domestic receipts totaling $82.5 million. The success of these two films follows months of viral marketing that made light of the stark differences between sunny and bright Barbie Continue reading →

Movies, Unions, Hollywood, Word of Mouth, Strikes, Viral marketing, Entertainment, Marketing, Advertising, Social Media

Chapter 1: Taking Risks and Making Profits, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Elon Musk’s Chaotic Takeover of Twitter

November 9, 2022

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Tesla owner Elon Musk has never been shy about seeking the spotlight, and for years he could always find an easy audience by talking to his Twitter following of more than 100 million people. Even that level of attention wasn’t enough for the world’s richest man, however, who purchased the social network outright at the end of October for a whopping $44 billion. That gargantuan price tag now ranks as history’s largest leveraged buyout of a tech firm, although it Continue reading →

Meta’s Market Value Plunges by $700 Billion

November 4, 2022

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2022 has been a tough year for Meta, the company formerly known as Facebook. In February we examined how the social media giant lost $230 billion in market value in a single day. Then in September, we looked at the company’s premier platform Instagram and how it angered many users by trying to emulate the short-video format of TikTok. Many of Meta’s woes stem from recent changes to Apple’s terms of service that prevent digital advertisers from collecting data Continue reading →