Question 1: This discussion is based on a typical marketing problem. Assume that you are the product manager for the manufacturer of a well-known brand of corn-based snack products. Seasonal problems have resulted in the cost of your main raw material (corn) going up this year. Even without this problem, the margin for your product is only 4-5% and this product category is very competitive with several strong existing brands. Obviously, you want to maintain this margin so that your company does not start making a loss on this product.
What are your options here (as a product manager)? What are the pros and cons of each option and which option would you finally choose?
Question 2: Describe at least one regulation that is aimed at protecting consumers, in product, pricing, distribution or advertising. In your description, include the name of the regulation, whether it is aimed at specific types of consumers or industries, what the objective is, etc. Also find examples (from general or business media sources) of businesses or brands that were affected by the regulation (ideally, the brand/company should be well known; explain the situation and outcome).