CLASS SCHEDULE/ROOM: Thursday, 5:30-8:30 PM Room 216 PROFESSOR: Mr. Reynald M. Antaso
3 This course satisfies two interrelated objectives: to improve the students' marketing decision-making ability through the solution of complex multinational marketing problems; and to increase the student's sensitivity to different cultural, socio-economic and legal environments encountered in the international marketplace. The course uses readings, cases and a group project. COURSE DESCRIPTION
Define Marketing Environment; Discuss and differentiate the 3 Levels of Marketing Environment; Identify the different external and internal factors that affects the marketing environment; Identify the features of marketing environment; Analyze and discuss the factors that impacts a chosen business or industry. 5 WEEK 1 Lesson objectives
If you are improving an existing business or launching a new one, how will you ensure that your business can compete and succeed in today’s market? How are you going to build a strong and profitable business? 7
According to the video what is marketing environment? The sum or collections of all internal and external factors, which affects the functions and the works of a company. 9
Marketing Environment can also be defined as : the market surroundings which affects the decisions related to the marketing activities and strategies; consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 11
According to the video, how can market analysis help the business? Market analysis can help identify opportunities, tap useful resources, assists in planning, and improves the overall growth and profitability of the business. 12
How many levels does a market environment have? There are three levels. Internal Environment Microenvironment Macroenvironment 13
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What is internal environment? Small forces within the company that affects its ability to serve the costumer. INSIDE the organization itself This has the highest influence 15
What is the second level in the market environment? Microenvironment The micro-component of the external environment is also known as the task environment. It comprises of external forces and factors that are directly related to the business. These include suppliers, market intermediaries, customers, partners, competitors and the public 18
What are the factors in the microenvironment? Market analysis can help identify opportunities, tap useful resources, assists in planning, and improves the overall growth and profitability of the business. 19
Ultimate customers - the person or organization that buys a product to use, rather than to sell it to someone else. Industrial customers - purchase products or services to use in the production of other products. 25
Reseller - a business partner who purchases products from a vendor and then sells them on to their own customers. Government and non-profit customers International customers. 26
Government policies and regulations can significantly influence the macro environment. Some examples are political stability, tax policies, trade agreements, and labor laws. For instance, changes in tax policies that reduce corporate tax rates can stimulate business investments and economic growth. Conversely, increased regulations on industries such as healthcare or energy can impact the operations and profitability of businesses within those sectors. 35
Socio-cultural factors encompass societal values, beliefs, attitudes, and lifestyle trends . These factors influence consumer behavior and demand patterns. For example, a growing awareness and concern for environmental sustainability have led to a shift in consumer preferences towards eco-friendly products and practices . This trend has prompted businesses to adapt and develop sustainable initiatives to meet customer expectations and maintain competitiveness. 37
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Dynamic – it changes continuously. There wide variety of factors that can cause the environment to change. Complex – because there are so many forces, its hard to understand the relative influence of a particular factor. Uncertain – no one can predict what happen Relative – it varies from one location to another 39 FEATURES OF MARKET ENVIRONMENT
Multi-faceted – a single change in business environment can be viewed differently by observers because their perception varies. Far-reaching impact – the success of the business depends on the environment in which it exists. A small change can have a big impact in the business. 40 FEATURES OF MARKET ENVIRONMENT
The external environment also known as the task environment. The collections of all external and internal factors that might affect the business. The level in the market environment that has the highest influence in the business. This level of environment include suppliers, market intermediaries, customers, partners, competitors and the public. 41 QUIZ
Microenvironment is internal (True or False) Macroenvironment is the largest among the levels of market environment (True or False) - 11 Enumerate the 5 factors under microenvironment. 12 – 15 Give at least 4 Factors under Macroenvironment. 42 QUIZ
Choose 1 business to analyze inside or outside of Guinayangan . Identify the factors in the environment that has an impact or might influence the business. (Political, Economical, Social, Technological, Environmental, Legal) Discuss how each identified factors might influence the business. 43 ACTIVITY
THANK YOU Brita Tamm 502-555-0152 [email protected] www.firstupconsultants.com 44
What is Environmental Marketing? Enumerate the 3 levels of environmental marketing and explain each. Give at least 2 examples of internal and external factors, explain why and how does it affect the business. Explain the importance of Environmental Marketing. 45 QUIZ: Recall (15 Minutes)
Identify key economic factors that influence marketing; Analyze how economic conditions affect consumer purchasing power and business decisions; Understand the relationship between inflation, unemployment, and marketing strategy; Explore real-world examples of businesses adapting to economic changes. 46 Learning Objectives
The marketing environment is the sum of external forces that affect marketing decisions. Components: Internal: Company’s resources, processes, and structure. External: Economic, political, technological, social, and environmental factors. Focus today: Economic factors and their role in shaping marketing strategies. 47
Economic factors are any factors that have direct impacts on the economy and businesses . Gross Domestic Product (GDP) Inflation Unemployment Interest Rates Exchange Rates 48 Economic Factors AFFECTING A BUSINESS
1. Gross Domestic Product (GDP) Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. GDP increases when a country has a positive trade balance or surplus. GDP decreases when a country spends more money importing goods and products than it makes exporting goods and products, which leads to a trade deficit. 49
A n increase in real GDP is interpreted as a sign that the economy is doing well. When real GDP is growing strongly, employment is likely to be increasing as companies hire more workers for their factories and people have more money in their pockets. High GDP = increased consumer spending. 50
2. INFLATION Inflation : Rise in the general price level of goods and services . Inflation is a gradual loss of purchasing power that is reflected in a broad rise in prices for goods and services over time. The inflation rate is calculated as the average price increase of a basket of selected goods and services over one year. High inflation means that prices are increasing quickly, while low inflation means that prices are growing more slowly. 53
Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product. 55
3. UNEMPLOYMENT Unemployment refers to a situation where a person actively searches for employment but is unable to find work. Unemployment is considered to be a key measure of the health of the economy. The most frequently used measure of unemployment is the unemployment rate. It's calculated by dividing the number of unemployed people by the number of people in the labor force. High unemployment reduces consumer confidence and spending . 58
Types of Unemployment: Frictional Unemployment This type of unemployment is usually short-lived. It is also the least problematic from an economic standpoint. It occurs when people voluntarily change jobs. After a person leaves a company, it naturally takes time to find another job. Similarly, graduates just starting to look for jobs to enter the workforce add to frictional unemployment. 59
Types of Unemployment: Cyclical unemployment This happens when the demand for goods and services in an economy decreases, forcing companies to lay off workers in an effort to cut costs. Companies generate revenue from the sale of goods and services, and when revenue decreases dramatically, businesses experience a drop in their profits. 60
Types of Unemployment: Structural unemployment This comes about through a technological change in the structure of the economy in which labor markets operate. Technological changes can lead to unemployment among workers displaced from jobs that are no longer needed. Examples of such changes include the replacement of horse-drawn transport with automobiles and the automation of manufacturing. 61
4. INTEREST RATES The interest rate is the amount charged on top of the principal by a lender to a borrower for the use of assets. An interest rate also applies to the amount earned at a bank or credit union from a deposit account. Influence borrowing and spending habits. High interest rates decrease consumer spending . 62
5. EXCHANGE RATES An exchange rate is the rate at which one currency can be exchanged for another currency. Most exchange rates are defined as floating. Their values rise or fall based on supply and demand in the foreign exchange market. 63
How Economic Factors Influence Marketing?
Consumer Spending: When the economy is strong, consumers spend more on luxury goods. During a recession, consumers focus on necessities. Business Costs: Inflation increases the cost of raw materials and labor. High interest rates increase the cost of borrowing for businesses. 66
Market Demand: Economic downturns lead to reduced demand for non-essential goods. Growth periods increase demand for new products and services. 67
Case Study Example: Fast Food Industry
During economic recessions or downturns, consumers typically reduce their spending on non-essential items. This shift in behavior has a direct impact on the food and dining industry, particularly affecting casual and fine dining restaurants. In contrast, fast food chains often benefit from consumers seeking cheaper alternatives. 69
McDonald’s Strategy During a Recession Economic downturns reduce consumers' disposable income, leading to a preference for low-cost meal options. McDonald’s, as a leader in the fast food industry, had to adapt to consumers’ changing behavior to maintain market share. 70
Marketing Tactic: Value Menus and Promotions: McDonald's introduced and expanded its “Value Meals" during tough economic times, offering customers low-cost meals and snacks to match reduced consumer spending. Combo Deals: They bundled items like burgers, fries, and drinks at a lower combined price, promoting a perception of value. Digital Marketing: McDonald's leaned heavily into digital advertising and mobile apps , offering discounts, loyalty programs, and mobile ordering to attract price-conscious consumers. 71
How do you think inflation affects the pricing strategies of fast food companies compared to luxury product companies?
Fast Food Companies: Affordability Focus: Fast food companies generally serve a price-sensitive market. During inflation, they may raise prices modestly but aim to remain affordable by offering promotions, value menus, or combo deals to retain customers. Cost Efficiency: They may reduce portion sizes or use lower-cost ingredients to manage increased costs without significantly raising prices. Consumer Shifts: In times of inflation, consumers are more likely to choose cheaper dining options, which can boost demand for fast food despite inflationary pressures. 75
Luxury Product Companies: Premium Pricing Power: Luxury brands cater to less price-sensitive consumers, so they can pass on higher costs directly through price increases. However, they may need to justify these hikes by emphasizing exclusivity, craftsmanship, or premium materials. Maintaining Exclusivity: Instead of lowering prices, luxury brands may reduce production volumes or introduce special editions to maintain exclusivity and protect brand image. Brand Loyalty: Luxury consumers often value status and quality over price, so inflation might have less of an impact on purchasing decisions compared to fast food consumers. 76
Activity 1: Choose 1 business, inside or outside Guinayangan . Analyze the how the business adapted to the economic environment. Analysis should include the following: The company’s initial marketing challenges. Changes made to the marketing mix (product, price, promotion, place). Results and overall success of the strategy. 77
Economic Cycles and Marketing Adjustments
ECONOMIC CYCLES Economic cycles refer to the natural rise and fall of economic growth that occurs over time. They are typically characterized by four main phases: Expansion Peak Recession Recovery 79
1. Expansion This phase is marked by increasing economic activity. During expansion, GDP (Gross Domestic Product) grows, businesses invest more, and consumer spending increases. Employment levels rise, and confidence in the economy is generally high. 81
1. Expansion Rising GDP Lower unemployment rates Increased consumer and business spending Higher production and sales The length of an expansion can vary, often lasting several years. 82
2. Peak The peak represents the highest point of economic activity in the cycle before a downturn begins. It is the transition point between expansion and recession. GDP growth reaches its maximum Unemployment is low, but may begin to rise slightly Inflation may increase due to high demand Business and consumer confidence is at its highest 83
3. Recession A recession is characterized by a decline in economic activity across the economy. GDP contracts, and businesses may cut back on investment and hiring. Consumer spending decreases, leading to lower production and higher unemployment. 84
3. Recession Falling GDP Rising unemployment rates Decreased consumer spending and business investment Lower production and sales Recessions can vary in length, from a few months to several years, and their severity can differ based on various factors. 85
4. Recovery During recovery, the economy begins to improve after a recession. Economic activity starts to increase, leading to higher GDP growth, reduced unemployment, and renewed consumer and business confidence. 86
4. Recovery Increasing GDP Decreasing unemployment rates Rising consumer and business spending Improved production and sales The recovery phase can also vary in length, gradually moving the economy back toward a new expansion phase. 87
Impact of Economic Cycles on Businesses Expansion: Increased consumer spending, opportunities for growth. Peak: Market saturation, high competition. Recession: Decreased consumer spending, cost-cutting. Recovery: Gradual improvement, renewed opportunities. 91
Assignment: Choose 1 business, inside or outside Guinayangan . Analyze the how the business adapted to the economic environment. Using the provided worksheet, analyze the company’s response to the recession and how they adjusted their marketing strategy. 92
Assignment: Worksheets 1. Marketing Strategy Adjustment Worksheet Company Background Economic Challenge Faced Initial Marketing Strategy Adjustments Made Impact of Adjustments Lessons Learned 93
Worksheets 2. Recession Response Analysis Worksheet Company Name Description of Recession Impact Marketing Strategies Before Recession Changes Implemented Outcomes and Performance Metrics Recommendations for Future Recessions 94
Worksheets 3. SWOT Analysis During Recession Worksheet Strengths: What strengths did the company leverage? Weaknesses: What weaknesses were exposed? Opportunities: What opportunities did the company identify? Threats: What threats did the company face, and how did they address them? 95
Worksheets 3. SWOT Analysis During Recession Worksheet Strengths: What strengths did the company leverage? Weaknesses: What weaknesses were exposed? Opportunities: What opportunities did the company identify? Threats: What threats did the company face, and how did they address them? 96
What recent tax reform law significantly affected businesses and consumers in the Philippines? TRAIN Law (Tax Reform for Acceleration and Inclusion) Sin Tax Law Comprehensive Agrarian Reform Program (CARP) Rice Tariffication Law 97
True or False: The Build, Build, Build infrastructure program aims to improve the transportation system and create more business opportunities. 98
Which government agency is responsible for regulating advertising and marketing practices in the Philippines? Department of Finance (DOF) National Telecommunications Commission (NTC) Department of Trade and Industry (DTI) Commission on Audit (COA) 99
How does the Anti-Red Tape Act (ARTA) benefit businesses in the Philippines? By increasing corporate taxes By streamlining government processes and reducing bureaucracy By promoting foreign ownership of local businesses By limiting business operations during holidays 100
What recent political event created uncertainty in business operations in Mindanao? Passing of the Rice Tariffication Law Bangsamoro Organic Law (BOL) and the establishment of the Bangsamoro Autonomous Region Martial Law in Mindanao Philippine hosting of ASEAN Summit 101
True or False: The Comprehensive Agrarian Reform Program (CARP) has led to changes in land ownership and impacted agricultural businesses in the Philippines. 102
Which policy has been introduced to help small and medium enterprises (SMEs) recover from the effects of the pandemic? Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act Sin Tax Law TRAIN Law Public Utility Vehicle Modernization Program 103
Political Environment in Marketing
How government policies in the Philippines affect business and marketing strategies?
The political environment in marketing refers to the influence of government actions, policies, regulations, and political stability on business operations and marketing strategies . In the Philippine context , this includes how the national and local government, political parties, and legislation affect businesses, industries, and consumer behavior.
Key Political Factors in the Philippines 1. Tax Policies and Reforms TRAIN Law (Tax Reform for Acceleration and Inclusion): Aimed at simplifying the tax system and raising government revenue , the TRAIN Law has had significant effects on consumer purchasing power and business pricing strategies. It affects how businesses set prices for goods and services, especially with increased taxes on fuel, sweetened beverages, and tobacco products. 107
Personal income tax is a type of income tax levied on an individual’s wages, salaries, and other types of income. Excise tax collection in Republic of the Philippines is collected from goods that are harmful to people's health such as alcohol beverage, tobacco, or luxury goods (decorations, jewel, and perfumes) including goods that destroy environment. 109
Estate tax is a kind of tax that where you pay for the opportunity or the process of transferring cash or physical properties . The Bureau of Internal Revenue legally describes it as the tax on the properties of a deceased person . The tax is to be paid by the beneficiaries of the deceased . Donor’s Tax - It is an excise tax imposed on the privilege to transfer property by way of gift inter vivos based on a pure act of liberality, without any or less than adequate consideration and without any legal compulsion to give. 110
Cosmetic tax - An excise tax of 5% excise tax is imposed from invasive cosmetic procedures and surgeries directed solely towards altering or enhancing the patient’s appearance for aesthetic purposes . However, this will not cover procedures necessary to ameliorate a deformity arising from, or directly related to , a congenital or developmental defect or abnormality, a personal injury resulting from an accident or trauma, or disfiguring disease, tumor, virus or infection. 111
Value-added tax is a tax imposed on the exchange, lease, or sale of goods, services, and properties in the Philippines . VAT is also charged as a tax on the goods imported into the country. VAT is considered an indirect tax , as the taxpayer for a transaction – the one responsible for filing and remitting VAT payments to the Bureau of Internal Revenue (BIR) – is the seller . Although, it is the buyer who carries the financial burden (the cost) of the VAT payment on the specific transaction. 112
Key Political Factors in the Philippines Tax Policies and Reforms Republic Act (RA) No. 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act was created by the Philippine Congress in response to the COVID-19 pandemic as a fiscal relief to domestic and foreign corporations doing business in the Philippines. It aims to make the Philippines more competitive in ASEAN by lowering the corporate income taxes to 25% and 20% for small, medium and micro enterprises. 113
What are your insights on the government's 'build, build, build' program?
Key Political Factors in the Philippines 2. Government Infrastructure Programs Build, Build, Build Program : A government initiative aimed at improving infrastructure, including roads, airports, and railways. This creates opportunities for industries such as construction, logistics, and transportation, while indirectly benefiting retail and tourism sectors by improving connectivity and mobility. 116
Key Political Factors in the Philippines 3. Foreign Investment Policies Foreign Ownership Restrictions : Philippine law restricts foreign ownership in certain industries, particularly in utilities, education, media, and land ownership. Public Service Act Amendment : The amendment to the Public Service Act allows full foreign ownership in sectors like telecommunications and transportation, encouraging foreign investments and fostering competition. 118
Key Political Factors in the Philippines 4. ASEAN Trade Agreements: As part of the ASEAN Economic Community, the Philippines is involved in regional trade agreements that promote free trade and investment across Southeast Asia. 119
The Philippines and Japan entered into a free trade agreement in 2008. PJEPA is the Philippines’ only bilateral free trade agreement , covering, among others, trade in goods, trade in services , investments , movement of natural persons , intellectual property , customs procedures , improvement of the business environment , and government procurement . 120
The Philippines and EFTA members – Iceland, Liechtenstein, Norway, and Switzerland – signed a free trade agreement in 2016 which entered into force in 2018. The Philippines-EFTA covers trade in goods , trade in services , investment , competition , intellectual property , government procurement , and trade and sustainable development . 121
The Philippines and EFTA members – Iceland, Liechtenstein, Norway, and Switzerland – signed a free trade agreement in 2016 which entered into force in 2018. The Philippines-EFTA covers trade in goods , trade in services , investment , competition , intellectual property , government procurement , and trade and sustainable development . 122
The Philippines and 14 Asia Pacific countries – Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, Singapore, Thailand, and Vietnam – signed the Regional Comprehensive Economic Partnership (RCEP) agreement in 2020, which entered into force in 2022. The RCEP agreement covers trade in goods , trade in services , investment , intellectual property , e-commerce , competition , small and medium enterprises , and government procurement . 123
T he Philippines has preferential trade agreements with China, Hong Kong, India, Japan, South Korea, and Australia and New Zealand. Preferential Trade Agreement - preferential access to certain products from the member countries into each other's markets through lowering tariffs for such products only. 124
Key Political Factors in the Philippines 5. Political Stability and Elections Election Cycles : Political stability or instability due to elections can influence investor confidence, market dynamics, and business decision-making. 125
Key Political Factors in the Philippines 5. Political Stability and Elections Bangsamoro Organic Law : enacted on July 27, 2018, provided for the establishment of BARMM as a political entity and its corresponding basic governmental structure. In recognition of the justness and legitimacy of the Bangsamoro people and the aspirations of Muslim Filipinos and all indigenous cultural communities in the Bangsamoro Autonomous Region in Muslim Mindanao to secure their identity and posterity, allowing for meaningful self-governance within the framework of the Constitution and the national sovereignty as well as territorial integrity of the Republic of the Philippines. 126
Key Political Factors in the Philippines 5. Political Stability and Elections Bangsamoro Organic Law : The Court also upheld the parliamentary form of the Bangsamoro government. An autonomous region is not prohibited from prescribing a form of government that differs from the national government so long as it upholds democratic principles. The Bangsamoro government is democratic, with the members of the Parliament elected by its people as representatives. In turn, the Bangsamoro Parliament elects a chief minister who shall exercise the executive powers of the Bangsamoro government. 128
Key Political Factors in the Philippines 6. Government Regulatory Agencies Department of Trade and Industry (DTI) : Regulates business activities, including consumer protection, fair trade, and advertising standards. 129
Key Political Factors in the Philippines 6. Government Regulatory Agencies Securities and Exchange Commission (SEC) : Oversees corporate governance, ensuring that businesses comply with legal requirements in terms of operations, financial reporting, and investor protection. 130
Key Political Factors in the Philippines 6. Labor and Employment Laws Minimum Wage Laws : The government sets minimum wage levels, which impact labor costs and, consequently, business pricing and employment strategies. Labor Code of the Philippines : Governs labor rights, workplace safety, and employee benefits. These laws influence how businesses structure their workforce and manage human resources. 131
Legal Environment in Marketing UNDERSTANDING HOW LAWS IN THE PHILIPPINES AFFECT BUSINESS STRATEGIES
LEGAL ENVIRONMENT The legal environment in marketing encompasses the laws, regulations, and guidelines that govern how businesses promote and sell their products or services. 134
key legal factors in the Philippines Data Privacy Act of 2012 (RA 10173) This law regulates the collection, handling, and storage of personal data by businesses. It ensures that companies take necessary steps to protect consumer information, especially in sectors like e-commerce, banking, and digital marketing. 135
key legal factors in the Philippines Consumer Act of the Philippines (RA 7394) This law provides protection for consumer rights regarding product quality, safety, fair trade, and accurate marketing practices. It covers deceptive advertising, pricing, warranties, and product labeling. 138
key legal factors in the Philippines Anti-Red Tape Act (RA 11032) This act seeks to streamline government procedures and reduce bureaucracy in transactions involving the public and private sectors. It promotes ease of doing business by speeding up permits, licenses, and approvals. 141
key legal factors in the Philippines Labor Code of the Philippines This code regulates employment conditions, including wages, work hours, employee benefits, and rights. Key provisions include the minimum wage law, holiday pay, and employee welfare programs like SSS and PhilHealth. 148
key legal factors in the Philippines Intellectual Property Code of the Philippines (RA 8293) This law protects intellectual property rights, including trademarks, copyrights, patents, and trade secrets. It aims to encourage innovation and creativity while providing businesses with legal protection over their proprietary content and products. 149
key legal factors in the Philippines Competition Act (RA 10667) This law promotes fair competition and prohibits anti-competitive practices such as price-fixing, monopolies, and abuse of dominant market positions. 154
key legal factors in the Philippines Environmental Laws Key environmental laws include the Clean Air Act, Clean Water Act, and Ecological Solid Waste Management Act. These laws mandate businesses to adopt environmentally friendly practices and ensure the sustainable use of natural resources. 155
key legal factors in the Philippines Foreign Investment Act (RA 7042) This law regulates foreign ownership of businesses in the Philippines. While certain sectors are restricted or limited to Filipino ownership (e.g., land ownership, media), other sectors are open to full foreign ownership. 156
key legal factors in the Philippines Anti-Money Laundering Act (AMLA) This law requires businesses, especially in the banking and finance sectors, to report suspicious financial transactions and comply with anti-money laundering regulations. 157
CASE STUDY ANALYSIS
Scenario 1: The Philippine government has increased taxes on sugary beverages under the TRAIN Law to curb sugar consumption and improve public health. A local soft drink company must now adjust its marketing strategy. Questions : How will the price increase affect consumer behavior? What marketing strategies can the company implement to maintain sales? 159
Scenario 2: A new law on data privacy (Data Privacy Act of 2012) requires businesses to seek explicit consent from customers before collecting their data. A retail company that gathers customer information for personalized marketing must now comply with stricter rules. Questions : How might this law affect the company’s digital marketing strategies? What alternatives can the company explore to continue collecting customer data responsibly? 160
Scenario 3: The government has launched the Build, Build, Build program, improving transportation infrastructure across the country. A logistics company wants to take advantage of these changes in its marketing campaign. Questions : How will improved infrastructure affect logistics businesses? How should the company adjust its marketing strategy to highlight the advantages of the new infrastructure? 161
Scenario 4: New environmental regulations in the Philippines require companies to reduce plastic waste. A company that uses plastic packaging must find eco-friendly alternatives to comply with the law. Questions : How will this regulation affect the company’s branding and product design? What green marketing strategies could the company implement to attract eco-conscious consumers? 162
Scenario 4: New environmental regulations in the Philippines require companies to reduce plastic waste. A company that uses plastic packaging must find eco-friendly alternatives to comply with the law. Questions : How will this regulation affect the company’s branding and product design? What green marketing strategies could the company implement to attract eco-conscious consumers? 163
Concluding Question: How can businesses turn legal and political challenges into marketing opportunities? 164