Describe concepts of business based on the questions provided

Directions: Every question must have one source, at least two answers must rely on the uploaded textbook (Ferrell, O. C., Hirt, G. & Ferrell, L. (2014). Business: A Changing World. Tata McGraw-Hill Education) as a source and at least 3 other outside scholarly/academic sources to support ideas and a minimum of 350 words per question. Must use proper grammar, mechanics and spelling in your response, you have to make use of proper in-text citations and an end-reference “ NO Plagiarism” . All Sources besides the textbook provided, must have a direct link to it.


  1. Research a product or idea from a company such as Microsoft, Google, or Apple that failed during the steps of new product development. What step/stage did it fail? Why?
  2. What significance does packaging have on the consumer when comparing similar products?
  3. Discuss the differences between price skimming and penetration price. What effects did the strategy incorporated by Netflix have on the movie rental business?
  4. Discuss an example of each of the following: A) Psychological Pricing B) Reference Pricing C) Discount Pricing
  1. Bad publicity can break a company. What can companies do to offset negative publicity that has gone “viral” through sites such as Facebook, Twitter, YouTube, and review sites such as

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concepts of business

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