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first one:(half to one page)
First Part–The first part of this assignment is for you to watch two video clips of Economics of Super Size Me. What would happen if you ate all your meals at McDonaldâ€™s for an entire monthâ€”without ever working out? Super Size Me, a documentary by Morgan Spurlock, endeavored to find out. At the end of the month, Spurlock gained 30 pounds, and his cholesterol and blood pressure rose significantly.
1. Super Size me –Intro https://www.youtube.com/watch?v=MQQMr0-NpQ4&feature=emb_logo
2. Supersize Me in 7 mins â€œHow too much of McDonaldâ€™s make you feelâ€ https://www.youtube.com/watch?v=S9__23-zjhM&feature=emb_logo
Second Part– The fast food industry business model is to provide filling food at a low cost. What McDonaldâ€™s lacks in quality, they make up for in quantity. Each value meal provides a tremendous number of calories. This provides quite a contrast with fine dining. At fancy establishments, the portions are smaller by design. You are to answer the following questions and upload your answers on to Canvas:
What makes someone willing to pay significantly more when dining out at fancy establishments even though the portions are quite small? The answer will not be as simple as people pay for the service and nice environment. The question asks “why” they are willing to pay for that. When answering this question, please refer to the concept of marginal and total utility learned in this module.
McDonaldâ€™s example here is a lot like water in the diamond-water paradox. Please discuss this point how you understand this statement. Again, please refer to the concept of marginal and total utility we learned in this module to answer this question.
Please come up with at least two examples of the diamond-water paradox. Note that luxury goods do not automatically mean “diamond” and cheap (inferior) goods do not automatically mean “water.”
second part: Design Thinking
Record a presentation that reflects on and explores innovation as has been covered in this course. Focus on those topics we covered that you think can be most impactful on your final Design Thinking project. Your presentation should be 10 to 15 slides in length and include your voice narration.
The final project on garbage recycling innovation will include: Customer Centered Job Mapping, Customer Journey Map and Analysis, Lean Canvas, Key Performance Indicators, Prototyping, Compare Web Analytics Reporting Platforms, Product Innovation using stage-gate.