Amazon

Amazon has become the main reason why everyone now buys everything for Christmas online.  Amazon is a company that works as a online store that sells various items that you may not find at your local mall.  It began as small company that drove packages to the post office, today Amazon is the most well known store to buy goods.  They are estimated to sell over 300 packages a second and deliver them by truck and plane to shorten the wait time for customers and so they can be delivered across the globe to be very efficient.  Amazon's main focus is the customer about how they can relate to them and make them feel important.  Companies like Netflix and the CIA are run through Amazon to increase these companies popularity.  They use the profits from the companies to invest in warehouses and other manufacturing places to shorten time and increase the overall profits more.  Amazon recently introduced a drone that takes individual packages and fly's them over to the customers door step.  Overall Amazon is greatly increasing their popularity and profits everyday and meeting the customers needs.          

Black Friday

Black Friday is the most well known day besides national holidays.  Most people go just to watch others because its so crazy, an the others spend nights outside of stores, or wait in ridiculously long lines for certain sales, so why is this kind of madness only occurring the day after Thanksgiving.  The answer is because companies like Best buy, and Toys R' Us create so many different types of posters and other ways of publicizing for Black Friday making it seem way more exciting then it really is.  This helps companies sell so much more than they intend to, which allows them to sell products at lower prices.  As for Black Friday itself its turned into a tradition to buy stuff after thanksgiving, knowing that its going to be so busy and it would maybe seem logical to go another day for the same deals or sales, but so many people go, that its almost turned into a holiday.    

Purchasing

In the Purchasing lesson, we learned how buying can effect sales and profits. Understand the qualities of a good buyer, the process of how to organize products through the store to sell.  We learned to understand how the quality of the product can affect the the sales on the product.  How to calculate stock turnovers by defining it in terms of items and dollars.  Last to list the problems having to do with purchasing and inventory control.  We also learned concepts like calculating open-to-buy, and computing stock turnover.  And key terms like buyer, vendor, inventory, stock, invoice, inventory control, just-in-time inventory control system, physical inventory system, perpetual inventory system, and stock turnover.  I learned from this lesson that the quality of the of the product can affect sales and the price of a product.      

Pricing

When we did the pricing lesson on Virtual Business we learned the process of how to calculate the price on a desired amount and find out the margin based on the sales of our desired price for goods.  How to make the most money by analyzing the margin and adjusting it to the most satisfying way.  The relationship between price, demand, and profits.  Last to lower the price and raise it so they can compete with other competitors. We also learned some math equations and key terms that helped calculate the price, margin, markup, and markdown that helped us get a better understanding of pricing.  From lesson two I feel that I understand how to price products and how to get the maximum margin by adjusting the price.  

Flamboyant Author's Advice

Frank McKinney was only 18 years of age when he arrived in Miami in January 1982 to get away from his reputation for rebellion, drunkenness and academic underachievement that troubled his well-to-do family in Indiana.  With only $50 McKinley he used it to start buying low-income houses refurbishing them and then selling them back to make a profit.  From there he just got bigger by buying high end beach front properties and rebuilding them into mansions that are worth $28 million.  McKinney has said to be so successful because of the effort that he put into excess and individuality.  But others say that its because of his down to earth house sense.  McKinney first decided to purse his career in real estate at age 21, he took courses passed the real estate examination and applied for a job at a real estate brokerage firm.  to prepare for the interview he bought a business suit and tight laced black shoes, the interview went well and he was offered the job the only thing he was asked was to get a hair cut.  He wrote a book on his success and people were surprised with emphasis that he put on the personal vision that he had in mind when he wrote it.  Most people that are that successful or that famous all that happens usually goes to their head,but with McKinney he was very down to earth by giving back to the less fortunate.