Enhancing sustainability: integrating marketing principles(7P’s) into TIC industry to promote compliance

Abstract

This research aims to explore the crucial role that Testing, Inspection, and Certification (TIC) firms play in promoting sustainability within the manufacturing sector of Bangladesh as compliance with social, environmental and other regulatory obligations are crucial to ensure sustainability. Despite the critical contribution in adopting better compliance practices, TIC firms fully focus on and serve the export-oriented manufacturers which leaves a significant gap in adherence by the domestic industries. In addition, lack of awareness of sustainability, weak law enforcement and corruption in the regulatory body cause manufacturers to develop negligent tendencies in terms of compliance and even worse for the domestic firms. This study focuses on revisiting the service market mix (7Ps) to develop carefully tailored strategies so that the TIC firms can broaden their reach and influence across other industries and overcome these obstacles while adhering to the regulations of international accreditation authorities. The research employs a mixed-methods approach to bring out the insights and recommend an actionable plan. This research is aimed at developing and fostering a culture of compliances, enhancing sustainability awareness among all business sectors, potentially attracting foreign investments into the country which will ultimately contribute to the overall sustainable growth of the entire nation.