Marketers must work:
- Within laws - business practices
- Engage - special-interest groups
- Exploit opportunities - market reform
- Deal with corruption
INCREASE IN BUSINESS LEGISLATION
To protect:
- Companies - unfair competition
- Consumers - unfair business practices
- Society - unbridled business behavior
“At what point do costs of regulation exceed the benefits?
Protect home industries
Eg KFC Bangalore closed - overuse of MSG
Rumors - closed to protect local retailers
Counter protectionistic policies, foreign firms - new local brands
Eg “Made-in-Thailand” Heineken beer
GROWTH OF SPECIAL-INTEREST GROUPS
Consumerist movement - strengthen rights & powers of buyers
Eg: true interest cost of loan
Basic ingredients in product
Personal data - customized products - privacy issues - public policy issue
Consumer affairs - policies - consumer complaints
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