WebThus “Green Marketing” refers to holistic marketing concept wherein the production, marketing consumption an disposal of products and services happen in a manner that is WebAlthough green marketing is getting popular in short order, there are some difficulties need to be overcame by company, such as the undeveloped technique of green manufacture Web30/07/ · Green marketing used to promote the product Whether the product received cause-related or social marketing Reasons for purchasing or not purchasing the product
Green Marketing essay - Eddusaver
This essay focuses on theoretical developments in sustainable management in green marketing strategies and environmental sustainability. It gives a brief background information on the origin and development of sustainability performance among companies, green marketing essay. The literature review part presents the market segmentation in green marketing strategies, products positioning and target markets. Further, marketing conditions such as environmental policies, green marketing essay increasing costs of energy and raw material, growing global population and intensive use of limited resources influence the conditions of contemporary companies in production of goods and services. The concept of green solutions emanates from the ecological changes and processes that have occurred in the economy and society.
Sustainable economy requires innovative products and processes in green marketing essay chains and green marketing essay linked to the natural environment. Sustainable development follows the value chain from the product manufacturer to customer and proceeds up to the final stage of disposal of products and handling of materials in the processes of lifecycles. Decisions regarding the planning and design of products and processes form part of the integrated value chain in sustainable development. This implies that technical, economic and ecological perspectives must be incorporated into one approach. According to Peattie, green marketing is a holistic management process responsible for identifying, green marketing essay, anticipating and satisfying the needs of customers and society in a profitable and environmentally sustainable way.
This research covers green marketing strategy as a strategic sustainability performance of a value chain in product lifecycle. It looks at marketing green marketing essay, target market, positioning, green marketing essay, developing product niche and creating value propositions. A growing number of consumers, employers, investors, communities and non-governmental organisations NGOs are giving a new meaning to what constitute a sustainable business conduct and are demanding such conducts from companies. These constituents are collectively developing a new class of sustainability performance indicators.
Businesses are realising that sustainability performance is a source of differentiation that helps to create successful corporate or destroy them. The past decades, environmental advocates, politicians, and legal experts forced executives to adopt ethical business practices. Internal values and principles of firms reflecting management commitment to better society were also factor influencing sustainability development Forest, Since then, there has been a five-logic approach of sustainability development. These have been the compelling force for the mainstream transformation from short-term profit focus to management of all stakeholders in the value chain a product lifecycle.
Any modern business can only ignore these logics for its own peril. These logics include. An organisation, which ignores incorporating its green agenda in its green marketing essay strategy, does not have the interests of its stakeholders. Companies try to develop sustainable products to provide solutions to modern customers through products value, prices, green marketing essay, distributions, and promotion to the target groups Royne, green marketing essay, Levy and Martinez, Marketing segmentation is an essential green marketing essay in a classical approach to marketing.
Companies select certain target groups and position their green products for sustainable marketing activities. Marketing strategies focus on geographical, demographic, green marketing essay, behavioural and demographic characteristics of consumers. Companies green marketing essay adopt a socio-ecological approach to segmented target market. Socio-ecological approach to sustainability marketing further differentiates marketers as those with a high level of socio-ecological awareness, and they are willing to adopt environmental friendly products. These consumers take into account social and ecological features of products before deciding to buy any products.
Marketers have challenges because of the relatively small numbers of this group of consumers. The second socio-ecological segmentation of sustainable products green marketing essay consumers has a high level of socio-ecological awareness. This consumer is willing to pay for a high added value in eco friendly products, green marketing essay, but will not compromise on the quality of the product. These consumers were the first to embrace green products. Finally, the third segments of socio-ecological consumers are not particularly interested in eco friendly products because they do not see the added value in green products.
This consumer is not ready to comprise with regard to price and product performance. The challenge to sustainable marketing is that this is the largest group of consumers in relation to other categories of consumers. The target approaches of green marketing strategies uses the generic Porter strategies of focus, differentiation and cost Frank-Martin, Belz and Birte, Schmidt-Riediger, Green marketing strategy can concentrate on a selected niche of customer. This is focus strategy. Focus strategy accounts for consumer group, geographical region or product segment. On the other hand, differentiation strategy looks at a competitive advantage from creating, and marketing a product with a particular selling proposition.
Finally, strategic sustainability differentiation targets the socio-ecological niche whereby the overall goal is to achieve overall cost leadership. Companies try to adopt cost-saving measures and exploit advantages of economies of scales. Low costs strategies take into account the eco-efficiency, low wastes and manufacture of safe and efficient products to use. This means that the company must command a large market share so as to create cost advantages Daily, Communication strategy is important for products with special environmental features or technological improvements, green marketing essay. Firms which produce environmental performance and technology leadership should also let their consumers know the features of their products through communication and marketing.
The communication and marketing challenge is to translate the LCA Life Cycle Assessment results into a communication that respective target group will understand. For instance, economical and environmental optimizations are often in line, particular in fuel consumption. In the automobile industry, communication strategy must differentiate between private and fleet customers as two different target groups. Private customer main concern is fuel consumption and emission levels in terms of costs. Private customer does not reflect on the total cost of ownership TCOas opposed to fleet customer, green marketing essay. Companies can amortise a high TCO over a life time.
However, green marketing essay, private customers are not willing to pay for additional environmental features. In contrast, green marketing essay, fleet customer green marketing essay consider TCO on his calculation, green marketing essay. Fleet customer is willing to pay for environmental friendly technologies, green marketing essay. Volkswagen developed environmental commendation to communicate its environmental friendly features in its new vehicles and technology that highlights ecological progress, as opposed to the previous models Herrmann, This knowledge is useful to marketers since they will be able to articulate their target market products needs and incorporate them in their marketing strategies Reed, The concept of green products has led to the emergence of greenwash environmentalists.
Consumers face challenges particularly in selections of genuine products. There are abundant information and products that are claiming to be environmental consciousness. In this context, consumers would like to make rational choices in relations to buying green products. Thus, environmental conscious companies must furnish them with adequate information so as to enable them make rational choices, green marketing essay. Laroche and company refer to this concept as ecoliteracy. Interpersonal influence exists among consumers. Individual behaviour green marketing essay effects on others choices.
Social cognitive theory posits that the process of interpersonal influence occurs both between the environmental and personal characteristics of individuals, green marketing essay. Social influence of families, peers and associates have influence on others perceptions of their surroundings, through modelling, persuasion and instructions. Marketing strategies must exploit the roles of interpersonal relation and its influences green marketing essay people with regard to purchasing green products Laszlo, These are collectivism and individualism values. Individualism represents loose ties in cultures, green marketing essay. The individual only looks after self or immediate family but with no other responsibilities.
Therefore, the focus is personal satisfaction rather than on other things. Green marketing essay consumer has low concern for the environment. Therefore, he has no regard for eco friendly products. Conversely, collectivism focuses on welfares of others and cares about the group well-being. This group of consumers tends to be environmental friendly. Therefore, green marketing strategies must look for methods of appealing and changing people whose values are individualistic Cheah, Isaac and Phau, Ian, Consumers buy either necessity or luxury products. Luxury products are premium, green marketing essay, complex to purchase and consumes both time and money than necessity products.
Necessity products are common and have less hedonistic values attached to them. Necessity products have relatively low decision-making process with regard to their environmental effects. Consumers who purchase luxury products tend to consider their effects on the environment. Therefore, their attitudes to products tend to be environmental focused. Value oriented portfolio management in green marketing strategies becomes difficult due to the increasing complexity of products without appropriate and efficient data, which creates a lack of business transparency and synergies in the value chain of sustainability development and performance. Strategic alignment and value focused product portfolio management promote an effective product lifecycle management.
Therefore, companies should focus on clearly defined product for effective portfolio management. Managing the portfolio enables marketers to position their products without any overlap and in accordance with the market demands. Value oriented portfolio management ensures prioritisation of product investment i. with regard to environmental and sustainable development. Marketing strategies benefit from the increased transparency of the product range and comprehensibility of the customer. Customer needs management in green marketing strategies requires integration of customer relationship management CRM and product lifecycle management PLM.
This green marketing essay that there is a collaborative product design. Marketing studies show that customers expect products not to have negative impacts on their environment. In response to customers purchase decisions, companies should include environmental performance in consideration. This also enables companies to engage in mass production of customised products. Green marketing strategies involve reporting and controlling processes regarding product lifecycle. Different division of the firm must create a standard of product foundation, which serves to lay the foundation of controlling instruments. Some organisations have environmental key performance indicators.
GREEN MARKETING
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Web24/11/ · Green marketing is the marketing environmentally safe products and services. It involves processes such as modifying the products and the production WebGREEN MARKETING PRACTICES OF INDIAN FIRMS Introduction According to the American Marketing Association, green marketing is the marketing of products that are WebThus “Green Marketing” refers to holistic marketing concept wherein the production, marketing consumption an disposal of products and services happen in a manner that is
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