According to Philippine Inquiry and export.gov the regime of President Duterte is stable since he was elected last 2016, having high approval ratings, with his projects including war on drugs, corruptions, reducing crime rates and many more, even if it became an issue to human rights groups. The political relationship to other country like China isnt good since the two countries are battling for the territory of the west Philippine sea and/or west China sea.
Data from PESTLE Analysis of the Philippines 2016, U.S.-Philippines bilateral trade has grown by almost 70 percent since 2009, amounting to US$21.3 billion in 2018. In 2018 Philippines ranked as the 32nd largest export destination for U.S. products and the 29th largest source of U.S. merchandise imports. Philippines became second largest merchandise export market after China and the top three import sources of the Philippines are China, with a 20% import share; Korea, 10%; and Japan, 10%. With 15 percent of total value in 2018 of export market of the Untied States was the Philippines.
This result came amid a lower labor force participation rate that the unemployment rate fell to 5.3 percent in 2018 from 5.7 percent in 2017, translating to 2.3 million jobless Filipinos. According to the government there are 826k net jobs created in 2018 but this was below the annual target. In the previous 2012 survey the official national poverty rate, declined to 21.6 percent in 2015 from 25.4 percent. Its improving, because of the high level of inequality and the incidence of poverty varies significantly across regions.
As stated in Business.Inquirer.net and/or Philippine Daily Inquirer, its the season for planning in the marketing industry once again and it is good to remind stakeholders that contrary to popular belief, when consumers make a choice, they do not decide based on just the product, place, promo and price.
There are other factors that affect buying behavior: Cultural (culture, sub-culture, social class), social (reference groups, roles and status, family), personal (age and lifecycle, occupation, economic situation, lifestyle, personality and self-concept) and psychological (motivation, perception, learning, belief and attitudes).
One is, the rise of stay-at-home housebands looking after children and house need and the absence of parents in a third of homes and the increasing role of schools in instilling values. Second is, the social disorders associated with the increasing absence of parents in the lives of their children (drugs, child sex abuse, teen pregnancy, among others).
Third is, the rise in the number of single parents.They are also called the Peter Pan generation, or the 30-something adults who are still single and without kids, mortgages and responsibilities.More men becoming purchase decision-makers of grocery products (the mansumers); and 49 years old and above wanting to take control of their health. Fifth is, the desire to migrate and the rise of middle class among overseas Filipino workers (OFW). Sixth is the increasing role of women in the workforce due to better education and social equality. Seventh is the increasing number of millennial women who do not know how to cook nor cook as well as their moms. Lastly, Women have become more liberal when it comes to their sexual and relationship behaviors (including promiscuity).
In terms of communication is the emergence of cheap smartphones.On owning multiple mobile phones, we have become more accepting of foreign cultures (American music, Korean pop and television showS, and people relying more and more on free texting via apps such as Line and Messenger. Opinions are shaped not just by watchdogs, but also by strangers in social media, the openness to talk to strangers and fellow customers, and the emerging consciousnes to organize and help others in times of natural disasters.
Lifestyle also have its factors including are: lack of sleep, the growing consciousness for planning discretionary time, the desire to buy new gadgets and spend on travel, the frequent visit to malls as instant escape, the increasing dominance of point-of-purchase activitie are the demanding lifestyle of working class(packaging, display, sampling, etc). Also, the expansive food knowledge instead of owning expensive cars seen as a sign of sophistication and the use of visual communication like emojis and memes. Buying preferences, shifting priorities from ownership to access (like car sharing), and to Know the importance of skin care, not just owning good cosmetics.
According to yondu.com. Information and Communications Technology (ICT) trends ranged from companies enhancing their products, services, and experiences digitally to anticipating policy changes that would disrupt ICT and BPO markets.It was a year 2018 where VR/AR experimentation, technology adoption, cybersecurity, and data-centrism played key roles in.
This year, becoming a digital-native enteTerprise and to become a digital native enterprise (DNE), their technology and data must be built on an advanced digital business platform. Development towards becoming a DNE, however, doesnt just lie on internal factors it must also consider how they are affected by external factors that occur in the industry. As such, it is vital that the trends for the Philippines.
Social factors may also affect the technological trends in the Philippines as still quoted from business.inquirer.net that the increasing reliance on tech-based solutions to manage personal life and work with the rise of omnichannel, more online activists are creating noise and the rise of virtual reality and augmented reality. Affects shopping to the increasing influence of online celebrities like bloggers, the middle and upper class condemning non-environment friendly products and practices. Value brands and private labels are becoming patronized because of Tingi (small portions), sachets, lista (credit) and four-gives installment style of payment.
These include SM Bonus, National Book Stores Best Buy, HBCs personal care products. The openness to try new brands, including generic drugs or alternative health remedies and the continued growth of microfinancing options.
People relying more on deliveries (for food, medicine, car batteries, LPG, etc), the increasing preference for smaller store formats, convenience stores as go-to for fast food and the growing popularity of multilevel marketing.
From vistage.com Te In 2018, the promise of many emerging technologies will be unleashed. To some extent, science fiction will become reality. The next wave of technologies will reach every corner of the globe, and provide us with possibilities we only dreamed about four or five years ago because there are 7.5 billion people in the world, and half of it have access to the internet. Two-thirds of the worlds populations have a cell phone.