Green Marketing

Green Marketing,[object Object]

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As a result, new “green” products were introduced that were less damaging to the environment. The concept caught on in the United States and has been gaining steadily ever since.

As today’s consumers become more conscious of the natural environment, businesses are beginning to modify their own thoughts and behavior in an attempt to address the concerns of consumers. ,[object Object]

Definition,[object Object],[object Object],[object Object]

increase their profit sustainability and

enjoy a competitive advantage over the companies which are not concerned for the environment. ,[object Object]

Benefits,[object Object],First and foremost, a good green marketing program is one that either: ,[object Object],Adds renewable that would not already be added or supports renewable projects thatmight not otherwise continue to operate. If these things are already happening and being paid for by all, then the program doesn't meet the bottom-line test: green marketing programs must make a difference.,[object Object],A sign of a good green marketing program is one that has strong links to localenvironmental groups and that achieves broad support among regional and national groups with an interest in promoting renewable power.,[object Object],Companies that develop new and improved products and services with environment inputs in mind give themselves access ,[object Object],[object Object]

Adaption of Green Marketing,[object Object],There are basically five reasons for which a marketer should go for the adoption of green marketing. ,[object Object],They are – ,[object Object],[object Object]

Corporate social responsibilities (CSR)

Cost or profit issues ,[object Object]

Adaption of Green Marketing,[object Object],SOCIAL RESPONSIBILITY,[object Object],Many firms are beginning to realize that they are members of the wider community and therefore must behave in an environmentally responsible fashion thus resulting in environmental issues being integrated into the firm's corporate culture. ,[object Object],An example of a firm that does not promote its environmental initiatives is Coca-Cola which invested large sums of money in various recycling activities, as well as having modified their packaging to minimize its environmental impact. ,[object Object],Another firm who is very environmentally responsible but does not promote this fact, at least outside the organization, is Walt Disney World (WDW) with an extensive waste management program and infrastructure.,[object Object]

Adaption of Green Marketing,[object Object],GOVERNMENTAL PRESSURE,[object Object], Governmental regulations relating to environmental marketing are designed to protect consumers through regulations designed to control the amount of hazardous wastes produced by firms by issuing of various environmental licenses, thus modifying organizational behavior. ,[object Object],In some cases governments try to "induce" final consumers to become more responsible by taxing individuals who act in an irresponsible fashion. For example in Australia there is a higher gas tax associated with leaded petrol. ,[object Object]

Adaption of Green Marketing,[object Object],COMPETITIVE PRESSURE,[object Object],Another major force in the environmental marketing area has been firms' desire to maintain their competitive position. ,[object Object],In many cases firms observe competitors promoting their environmental behaviors and attempt to emulate this behavior. In some instances this competitive pressure has caused an entire industry to modify and thus reduce its detrimental environmental behavior.,[object Object],For example, it could be argued that Xerox's "Revive 100% Recycled paper" was introduced a few years ago in an attempt to address the introduction of recycled photocopier paper by other manufacturers. ,[object Object],In another example when one tuna manufacture stopped using driftnets the others followed suit. ,[object Object]

Adaption of Green Marketing,[object Object],COST OR PROFIT ISSUES,[object Object],Disposing of environmentally harmful by-products, such as polychlorinated biphenyl (PCB) contaminated oil are becoming increasingly costly and in some cases difficult. ,[object Object],In minimizing wastes firms often develop more effective production processes that reduces the need for some raw materials thus serving as a double cost savings. ,[object Object],In other cases firms attempt to find end-of-pipe solutions, instead of minimizing waste by trying to find markets or uses for their waste materials, where one firm's waste becomes another firm's input of production.,[object Object]

Green Marketing Mix,[object Object],The 4 P's of green marketing are that of a conventional marketing but the challenge before marketers is to use 4 P's in an innovative manner. ,[object Object],Product ,[object Object], ,[object Object],The ecological objectives in planning products are to reduce resource consumption and pollution and to increase conservation of scarce resources (Keller man, 1978). ,[object Object], ,[object Object],Price ,[object Object], ,[object Object],Price is a critical and important factor of green marketing mix. Most consumers will only be prepared to pay additional value if there is a perception of extra product value. This value may be improved performance, function, design, visual appeal, or taste. Green marketing should take all these facts into consideration while charging a premium price. ,[object Object], ,[object Object]

Green Marketing Mix,[object Object],The 4 P's of green marketing are that of a conventional marketing but the challenge before marketers is to use 4 P's in an innovative manner. ,[object Object],Promotion ,[object Object], ,[object Object],There are three types of green advertising: - ,[object Object], ,[object Object],* Ads that address a relationship between a product/service and the biophysical environment ,[object Object],* Those that promote a green lifestyle by highlighting a product or service ,[object Object],* Ads that present a corporate image of environmental responsibility ,[object Object], ,[object Object],Place ,[object Object], ,[object Object],The choice of where and when to make a product available will have significant impact on the customers. Very few customers will go out of their way to buy green products. ,[object Object]

People +Profit +Planet = P3 Strategies We Transition organizations from single a bottom line to a triple bottom line of success for people, profit, and the planet (P3).,[object Object]

Green Code,[object Object],G eneralise with care. ,[object Object],R emember,[object Object],E xplore,[object Object],E nsure,[object Object],N eutrality is important. ,[object Object]

Green Code,[object Object],G eneralise with care. Consumer behaviour will not necessarily be consistent across different product types, and particular market segments may respond to certain issues on the green agenda but not others.,[object Object],R emember, the validity of a piece of market research is not related to the degree to which it supports your preferred option.,[object Object],E xplore the context from which market research data comes. Be clear on the nature of the sample used, the questions asked, the way in which responses were recorded and the time and place from which the responses come.,[object Object],E nsure that where market research is crossing international borderlines, that the terminology and interpretation remains consistent. Terms like ‘environment’, ‘green’ and ‘conservation’ do not always translate precisely between languages.,[object Object],N eutrality is important. Ensure that when you pose questions to consumers, that they can make any response without being made to feel guilty or uncomfortable, and ensure that your own preconceptions about the green agenda (such as an assumption that green products will cost extra) are not encoded within the questions.,[object Object]

Challenges Ahead,[object Object], Green products require renewable and recyclable material, which is costly ,[object Object], Requires a technology, which requires huge investment in R & D ,[object Object], Water treatment technology, which is too costly ,[object Object], Majority of the people are not aware of green products and their uses ,[object Object], Majority of the consumers are not willing to pay a premium for green products ,[object Object]

Green Marketing

Green Marketing

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Green Marketing