At least one company has taken the old phrase “One man’s trash is another man’s treasure” and turned 1 answer below »

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 uses discarded packaging materials from multinational brands such as 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 its 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 a ton of trash from landfills. After viewing the video featuring Ecoist, answer the following questions: 3-15. How engaged was Ecoist in analyzing the marketing environment before it launched its first company? 3-16. What trends in the marketing environment have contributed to the success of Ecoist? 3-17. Is Ecoist’s strategy more about recycling or about creating value for customers? Explain