Tag Archives: entertainment

LG’s New Rollable TV costs $87,000

It’s finally here and it is incredible! Last year at the Consumer Electronics Show in Las Vegas, LG Electronics showcased an innovative, rollable screen TV. Now, the TV is in production and will be available next year in South Korea for the price of…. (Insert drum roll)… $87,000!

Did that price surprise you? Yeah, we thought so.

The screen is 65-inches and is built around a flexible OLED panel that uses self-lighting pixel technology and dimming control to delivery an amazing picture. Since the screen is flexible, it can retract partially or fully into its base, adapting to different aspect ratios. When fully retracted, no screen shows.

The base does come in four different colors, plus the aluminum base can be inscribed with words of wisdom (such as “you paid what for this?!”). The base also includes a sound bar for premium listening.

Regardless of price, the rollable TV is truly revolutionary. Instead of owners setting up a large black screen that always is in place, even when off, LG’s unit liberates the TV from the wall.

Ready for a new TV?

Group Activities and Discussion Questions:

  1. Pricing is a complex topic. Discuss the six steps for pricing (determining objectives, estimating demand, determining cost/profit relationships, select price level, set list price, and make adjustments).
  2. Discuss the various pricing models in class: demand-oriented, cost-oriented, profit-oriented, and competition-oriented.
  3. Show a video of LG’s rollable $87,000 TV: https://www.impomag.com/home/video/21199409/lg-reveals-jawdropping-price-on-rollable-tv?lt.lid=5f90574cfed1277042925d3d&lt.ack=ryRUDA6PD&lt.usr=71617211&utm_source=IMPO_10212020&utm_medium=email&utm_campaign=124311&utm_term=643230
  4. For specifications, view the news release from LG: http://www.lgnewsroom.com/2020/10/commercial-launch-of-lgs-long-awaited-rollable-oled-tv-marks-turning-point-in-tv-history/
  5. For LG’s rollable TV, divide students into groups and have each group work on any/all of the six steps.
  6. When setting the price level, assign each team a different model to use (demand-oriented, cost- oriented, etc.).
  7. Debrief the exercise. Compare the various pricing models and discuss advantages/disadvantages of each.

Source: CNET, Engadget, IMPO Insider, The Verge, other news sources

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The Brief Life of Quibi

Did you ever use Quibi? Do you even know what service Quibi provides? If your answer is “no” to either of these questions, then you are likely among one of the many reasons the video service shut down after only six months.

Quibi was developed as a streaming video app from Hollywood studio executives and offered entertainment and news in 5-10 minute lengths. It launched in April 2020 with the intent on challenging the streaming players. Quibi (which stands for “quick bites”) was designed for short viewing times in the “in-between moments” of life.

While the pandemic caused a number of issues for the company (since we were all now at home with devices, instead of on the move), it was only one of a series of missteps. Viewers couldn’t connect Quibi to their at-home TV, could not share programming, and had limited videos from which to choose. Quibi also had a lot of competition, including free services from YouTube and other platforms. Advertisers were also underwhelmed and experienced difficulties.

Although the app was downloaded an estimated 9.6 million times, and an estimated 90% of viewers left after the free trial period. The monthly service cost $4.99/month with included ads, or $7.99/month without ads. That’s not a bad price, but viewers saw it as one more monthly service to add on top of current streaming services from Amazon, Netflix, Apple, Disney+, and more.

Bye, Quibi.

Group Activities and Discussion Questions:

  1. Poll students: Who knows what Quibi did? Who used the service? Who subscribed beyond the free trial?
  2. Show Quibi’s site (it may not last long): https://quibi.com/
  3. News video of Quibi’s demise: https://youtu.be/tEfx_MxEXq4
  4. Discuss the components of an environmental scan: technology, social, competition, regulatory, and economic factors.
  5. Divide students into team. Have each team do a brief analysis of Quibi and the environment and develop a SWOT analysis.
  6. Discuss the stages in the product life cycle.
  7. Draw a product life cycle on the board and discuss the stages and marketing objective. What did Quibi’s PLC look like?

Source: AdWeek; New York Times; The Verge; Wall Street Journal; other news sources

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The Changing Consumer Spending

Consumer spending drives the U.S. economy, accounting for roughly 68% of the GDP. The spending includes everything we buy: food, services, entertainment, groceries, haircuts, and more. From the beginning of the year (when the economy was up), the nation has seen rising unemployment, and that means less wages to spend.

The impacts of the coronavirus pandemic are changing consumer behavior – what we spend our income on as well as how much we spend. As consumers have weathered the coronavirus pandemic and states have enforced lock-downs for shopping and entertainment, our spending and saving habits have shifted.

Interestingly, personal income rose 10.5% in April, the result of a rise in government rescue programs and household stimulus payments. But consumers also cut their spending on restaurants and hotels, as well as cut health care expenditures. In regards to large purchases, spending on autos declined 30% and furniture and appliance spending cut by 20%.

The first few weeks of the pandemic brought consumers out in mass to stock up on pantry items including toilet paper, soup, macaroni, beans, and other comfort foods. The next few weeks saw consumers buying more basic ingredients as they cooked more meals at home.

What’s next for consumer shopping changes?

Group Activities and Discussion Questions:

  1. Poll students: In the past month, roughly how much money have they spent? What items have they purchased?
  2. Is this spending different than what they experienced before the coronavirus pandemic? How is it different?
  3. Show video from WSJ about spending: https://www.wsj.com/video/consumer-spending-slid-in-april-here-why-that-matters/14661D9B-8251-43EB-B082-EDDE09187E2F.html
  4. Discuss trends in items being purchased.
  5. How should companies be using these changing habits to their advantage? Should marketing campaigns change?

Source: Wall Street Journal; other news sources

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