Rosemarie Teresa F.

Pil BSHM - 1
T/F - 10:00 - 11:30 Homework No. 5

Video Case
Ecoist

At least one company has taken the old phrase “One man’s trash is another
man’s treasure” and turned it into a business model. Ecoist is a company that
uses discarded packaging materials from multinational brands like Coca-Cola,
Frito-Lay, Disney, and Mars to craft high-end handbags that would thrill even
the most discriminating fashionistas. When the company first started in 2004,
consumer perceptions of goods made from recycled materials weren’t very
positive. This video describes how Ecoist found opportunity in a growing wave
of environmentalism. Not only does Ecoist capitalize on low-cost materials
and the brand images of some of the world’s major brands, it comes out
smelling like a rose as it saves tons of trash from landfills.

After viewing the video featuring Ecoist, answer the following questions:

1. How engaged was Ecoist in analyzing the marketing environment before it

launched its first company?

- Ecoist is a company that creates accessories from recycled materials

obtained from big corporations. Based on the content presented in this video,
Ecoist has conducted a small-scale, informal examination of the marketing
environment. The company's history and current status as a small business
are covered in the video. The co-founder was motivated by a little bag he saw
manufactured from recycled materials, and that's when he began thinking
about how he might connect major companies utilizing lapping to improve
people's lives. To be clear, the marketing environment has been taken into
account in almost everything this organization has done. The acceptability of
recycled materials in the fashion industry was the company's toughest
challenge. Not only that, but Ecoist's products are all unique, and the
uniqueness of its items manufactured from recycled materials was a major
difficulty. However, it was also a benefit because consumers knew they were
the only ones with that product.

2. What trends in the marketing environment have contributed to the success

of Ecoist?

- Growing trend towards ethical and sustainable production: The fashion

industry has seen a shift in favor of ethical and sustainable production.
Customers are looking for items that are manufactured using sustainable and
ethical processes and are increasingly requiring brands to be transparent and
accountable. The success of the business can be attributed to the use of
recycled materials and sustainable production practices in Ecoist's products,
which are in line with this trend.

- Growing consumer awareness and concern for the environment: There has
been a noticeable rise in consumer awareness and environmental concern in
recent years. Consumers are actively searching out eco-friendly products as
they become more aware of the effects that their purchase choices have on
the environment. Because Ecoist sells a variety of ecologically friendly goods
that appeal to buyers who are concerned about the environment, this trend
has helped the company succeed.

- Influencer marketing and the rise of social media: Social media has
developed into a potent marketing tool that has helped numerous companies,
including Ecoist, succeed. In order to advertise its products, the company
cooperated with influencers and used social media platforms to reach a larger
audience. Sales have been boosted and brand recognition has increased as a
result.

3. Is Ecoist’s strategy more about recycling or about creating value for

customers? Explain.

- Ecoist is a well-known lifestyle company that strives to benefit both people

and the environment. At initially, their primary objective was to be
environmentally friendly, but they soon recognized that in order to attract
clients, they also needed to be something valued. They put a lot of emphasis
on openness as well by revealing the sources of their raw materials and the
processes used to create their goods.