Supply & Demand - McGraw-Hill Introduction to Business

[VIDEO] Why Sweetgreen Struggles to Earn a Profit

September 20, 2023

The fast-casual dining chain Sweetgreen has developed a nationwide following of fans by selling fresh salads that start at $15 apiece. Although the company certainly charges a hefty amount for one of its signature bowls, Sweetgreen still struggles to make a profit due to high labor costs and expensive ingredients. This video examines the chain’s money troubles while also looking at its plans for profitability, including automation and expanding outside of major cities.

Questions:

What are some reasons why Sweetgreen Continue reading →

Product Returns Drive a Multi-Billion Dollar Resale Industry

August 30, 2023

NickelsMcHughMcHugh

America’s biggest retailers have often embraced product returns as a key aspect of their business, starting with J.C. Penney and his namesake company in the early 20th century. Allowing customers to return any product with no questions asked, other big companies like Walmart and Amazon would go on to follow his example in the years to come. “It’s a hallmark of successful American retail,” said Dale Rogers, business professor at Arizona State University. “If you make it easy to shop, Continue reading →

Campbell Soup Spends $2.7 Billion on Pasta Sauce

August 9, 2023

NickelsMcHughMcHugh

When Charles Rao first opened a New York City tavern in 1896, there’s no way he could have known his small business would eventually grow into a multi-billion dollar brand. After his family converted the bar into an Italian restaurant, however, Rao’s fame steadily grew throughout the 20th century. In fact, the eatery got so busy during the 1970s that longtime regulars were awarded “table rights” that turned into treasured family heirlooms. For everybody else, though, it became nearly impossible Continue reading →

Branding, Campbell Soup, Entrepreneurship, Food & Drink, Global, Marketing, Product Development, Product Distribution, 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 6: Entrepreneurship

[VIDEO] Why Primark Is Thriving As Other Retailers Struggle

August 2, 2023

NickelsMcHughMcHugh

Experts estimate that as many as 80,000 American retail stores will close over the next five years as companies like Forever 21, JCPenney, and Neiman Marcus struggle to stay afloat. That’s not the case for the British retailer Primark, however, which has 18 locations in the U.S. with plans for a lot more to come. This video looks at how the company became a multibillion dollar brand in Europe by sticking to brick-and-mortar stores stocked with high quality items at Continue reading →

Domestic Production Sets Bath & Body Works Apart

July 26, 2023

NickelsMcHughMcHugh

Making a $7.95 bottle of soap for Bath & Body Works (BBW) once took three months to accomplish. Parts traveled more than 13,000 miles across multiple countries to end up at the company’s Ohio distribution center, a difficult journey that the beauty brand sought to change in 2008. Years of working with local officials and skeptical suppliers resulted in BBW’s “beauty park” located outside of Columbus, an industrial campus that handles nearly every aspect of production. Featuring 10 manufacturers with Continue reading →

Global, Management, Manufacturing, Operations Management, Product Development, Product Distribution, Supply & Demand, Supply chains

Chapter 11: Human Resource Management, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management

Americans Will Travel in Record Numbers on July 4th Weekend

June 28, 2023

NickelsMcHughMcHugh

For the last three years, travel over the Fourth of July weekend has decreased as Americans dealt with issues brought on by the pandemic. According to AAA, though, that won’t be the case in 2023. This year the country’s roads and airports will be jam-packed like never before, with more than 43 million Americans planning to drive 50 miles or more over the holiday weekend. That represents a 4 percent increase over 2019 and marks a new record for July Continue reading →

Holidays, Product Distribution, Supply & Demand, Tourism, Transportation, Travel

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

[VIDEO] The High Stakes of Spotting Fakes in the Luxury Watch Market

June 23, 2023

NickelsMcHughMcHugh

From 2011 to 2021, the value of Rolex watches outperformed real estate and stock markets as well as commodities like gold. This video looks at the risks and rewards of the $20 billion used watch industry, from soaring demand and big price tags to small margins and extensive counterfeiting.

Questions:

Why are counterfeit products harmful to luxury brands like Rolex?
How does high demand for Rolex encourage counterfeiters to produce knockoffs?

Instant Pot Maker Files for Bankruptcy

June 21, 2023

NickelsMcHughMcHugh

The Instant Pot first hit the market in 2010 and quickly gained a following of dedicated users who took every opportunity to praise the pot’s pressure cooking and slow cooking abilities. Sales climbed throughout the decade as word-of-mouth spread, and then the Instant Pot truly became a blockbuster during the pandemic. Sales of multicookers and air fryers doubled in 2020 as millions of homebound people searched for ways to make easy meals in their kitchens.

Customers certainly got what Continue reading →

Bankruptcy, Entrepreneurship, Marketing, Pandemic, Product Development, Product Distribution, 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 6: Entrepreneurship

[VIDEO] How T.J. Maxx Prices Products to Move

June 7, 2023

NickelsMcHughMcHugh

The parent company of T.J. Maxx earned more than $50 billion last year, more than Nordstrom and Macy’s combined. This video shows how the retailer lives up to its promise to give customers “the max for the minimum price” through ever-changing inventory and eye-catching deals.

Questions:

What is “price-anchoring,” and how does T.J. Maxx utilize it to drive sales?
Why does T.J. Maxx continuously restock its stores with new inventory?

Branding, Marketing, Pricing, Product Distribution, Promotions, Retail, Supply & Demand, T.J. Maxx

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, Videos

[VIDEO] How Nintendo Stays in the Game

May 5, 2023

NickelsMcHughMcHugh

The Super Mario Brothers Movie has earned more than $1 billion at the worldwide box office so far, marking just the latest success for the entertainment juggernaut Nintendo. This video looks at how the Japanese company manages to stay on top of the volatile video game industry thanks to reliable hardware sales as well as classic characters like Mario, Luigi, Link, and many others.

Questions:

Why do Sony and Microsoft sell their consoles at a loss? How does Nintendo manage Continue reading →

Entertainment, Marketing, Nintendo, Product Development, Product Distribution, Promotions, Supply & Demand, Video Games

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, Videos