My Challenge to You

Actively read the following paragraph and complete the case study questions using high level thinking AND content regarding the economics of marketing.  You may work in groups of 3 or less.  All responses should be placed into Google Docs & named (Last Name, Video Rentals).  Should you have questions, please post them to Today's Meet, troubleshoot, and move on to the next segment of the case study.  Good Luck!!!

Video Rentals

Video rentals used to require joining a video rental club for as much as $75 per year, going to a video rental store to see what was available, paying approximately $5 to rent a video for 3 days, taking the tape or DVD home, and returning it after viewing.  Incurring late fees was always a risk in the event you forgot to return the video by its due date.  The economic utility of video rental has since been improved.

Work with your group to complete the following:

1. Describe the history of the video rental industry including its current state.
2. What changes have online businesses caused in the video rental business?  Discuss ALL FOUR categories of economic utility in your answer.
3. Write a one-page summary that compares and contrasts the PLC of each product offered in the history of the industry (USE YOUR NOTES).
4. Analyze the decisions made (p.190 - 191) and determine what the company chose to do as the product reached the maturity stage.  EXPLAIN how you determined your answer.
5. **Individually summarize YOUR OPINION of how the video rental business could further improve economic utility.