Supply & Demand - McGraw-Hill Introduction to Business

[VIDEO] Shein’s Controversial Business Model Keeps Prices Low

December 1, 2023

The Chinese e-commerce giant Shein (pronounced Shee-In) controls more than 40 percent of the U.S. fast fashion market, with more than $8 billion in sales last year. This video explores how the retailer consistently churns out cheap shirts and dresses, which includes accusations of labor exploitation that has tarnished Shein’s image with some shoppers.

Questions:

How does Shein’s “small batch” production strategy differ from other clothing companies?
How has Shein tried to recover its reputation with U.S. consumers? Do Continue reading →

Black Friday Crowds Increase as Spending Drops

November 29, 2023

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The annual sales bonanza known as Black Friday now lasts for much longer than 24 hours, beginning in the days before Thanksgiving and continuing on through Cyber Monday. And while a record number of American consumers turned out at stores to check out this year’s bargains, they didn’t exactly spend a lot of money. According to data from the National Retail Federation, an estimated 200.4 million people shopped over the five days after Thanksgiving, amounting to more than 60 percent Continue reading →

Black Friday, Cyber Monday, E-commerce, Holidays, Marketing, Pricing, Product Distribution, Promotions, Retail, Sales events, Supply & Demand

Bonus Chapter B: Technology and New Media, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics

[VIDEO] How Target Uses Its Stores as E-commerce Centers

November 17, 2023

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With nearly 2,000 stores across the U.S., more than 75 percent of Americans live within ten miles of a Target. These brick and mortar locations have become surprisingly valuable assets for the company’s e-commerce business, with more than 95 percent of online orders originating from Target stores. This video goes into detail about the retailer’s logistical operations, including the local sortation centers Target is investing in to keep up with increasing demand.

Questions:

How does Target utilize nearly 2,000 Continue reading →

E-commerce, Logistics, Product Development, Product Distribution, Retail, Supply & Demand, Supply chains, Target, Transportation

Bonus Chapter B: Technology and New Media, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Videos

Record Number of Travelers Will Fly for Thanksgiving

November 15, 2023

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After travel rates plummeted during the pandemic, Americans have been steadily hitting the road and boarding planes every year since. Thanksgiving is usually the busiest time for travel, and 2023 will be no different. From the Wednesday before Turkey Day to the end of the weekend, AAA estimates that there will be more than 55.4 million people traveling in the U.S. The vast majority will travel by car, with 49 million Americans expected to head out on the highway next Continue reading →

Airlines, Hybrid work, Inflation, Motivation, Product Distribution, Remote Work, Supply & Demand, Transportation, Travel

Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management

[VIDEO] Why Useless Decongestants Are Still for Sale

November 8, 2023

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If you’ve taken an over-the-counter (OTC) nasal decongestant recently, you may have been upset to discover that it did not do much to relieve your clogged sinuses. In fact, recent studies by the Food and Drug Administration (FDA) show that most OTC decongestants work no better than a placebo. This video explains in detail how store shelves became filled with useless cold medicine, and ways that the FDA are working to make things right.

Questions:

Why do most OTC decongestants Continue reading →

Advertising, Ethics, Marketing, Pharmaceuticals, Product Development, Product Distribution, Promotion, Supply & Demand

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Videos

[VIDEO] How Tipping Culture Took Over the U.S.

October 27, 2023

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From counter service restaurants to furniture stores, Americans are prompted to leave a tip for nearly every purchase they make. Along with looking at the history of tipping in the U.S., this video explains “price partitioning” and how it influences the ways that consumers view prices, showing that tipping is likely here to stay despite being consistently unpopular.

Questions:

What is price partitioning, and how does it influence consumers’ views on prices?
Do you think businesses should phase Continue reading →

Compensation, Entrepreneurship, Food & Drink, Motivation, Pricing, Product Distribution, Supply & Demand

Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Videos

Bad Weather in Europe Leads to Higher Olive Oil Prices

October 25, 2023

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Last week, we looked at how rising sugar costs will contribute to higher candy prices this Halloween. Of course, sweets aren’t the only product affected by global supply issues. Due to poor weather conditions in Europe, olive oil prices have more than doubled over the past year. The situation is worst in Spain, the world’s largest producer of olive oil and victim of a drought that has devastated recent harvests. Bad weather across the continent has also led to Continue reading →

Entrepreneurship, Ethics, Global, Manufacturing, Operations Management, Product Distribution, Supply & Demand, Supply chains

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management

[VIDEO] Why Wall Street Is Investing in Trash

October 20, 2023

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This video looks at the evolving operations of North America’s largest landfill operator, WM. Using capital provided by federal subsidies, the waste management company is investing in tech that could change the future of trash disposal, from sophisticated scanners that sort recycling to capturing methane gas to convert into fuel.

Questions:

Why is WM upgrading its operations to include more automation as well as methane gas extraction?
Do you think WM’s operational upgrades will make the company more sustainable Continue reading →

Energy, Entrepreneurship, Ethics, Manufacturing, Operations Management, Product Development, Product Distribution, Recycling, Subsidies, Supply & Demand

Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Videos

Rising Sugar Prices Increase Halloween Candy Costs

October 18, 2023

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Last year, we looked at how rising candy prices and increased enthusiasm for spooky season led Americans to spend big on Halloween. And by all accounts, it looks like 2023 will be no different: not only are consumers expected to buy lots of costumes and candy, but they will also pay more for the privilege. According to the Bureau of Labor Statistics’ (BLS) latest Consumer Price Index (CPI) data, candy and chewing gum prices jumped by 7.7 percent from Continue reading →

CPI, Food & Drink, Global, Halloween, Holidays, Manufacturing, Pricing, Product Distribution, Supply & Demand, Supply chains

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management

[VIDEO] Airlines Sell Legroom at a Premium Price

September 28, 2023

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In the early days of air travel, carriers provided passengers with luxurious amounts of legroom. As the video below explains, however, today’s planes have far more seats with far less space between them, potentially resulting in uncomfortable experiences for tall travelers.

Questions:

Why do modern airlines “unbundle” the costs of travel by charging additional fees for luggage and seat selection?
Do you think government regulators should require air carriers to provide passengers with “comfortable” amounts of legroom? Why or why not?

Air Travel, Ethics, Global, Product Development, Product Distribution, Regulation, Supply & Demand, Transportation

Bonus Chapter A: Business Law, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Videos