What is a Green Marketing?

Green Marketing

Green marketing refers to the practice of developing and advertising products based on their real or perceived environmental sustainability.

Examples of green marketing include advertising the reduced emissions associated with a product’s manufacturing process, or the use of post-consumer recycled materials for a product’s packaging. Some companies also may market themselves as being environmentally-conscious companies by donating a portion of their sales proceeds to environmental initiatives, such as tree planting.

Goals of green marketing

• Implementing sustainable business practices
• Demonstrating social responsibility
• Reducing expenses (packaging, transportation, energy/water usage, etc.)
• Demonstrating how safe and mindful products or services are

Benefits of Green Marketing:

Appeals to a new market

By using green marketing strategies, companies can attract different demographics. A growing number of consumers are concerned with how large corporations are affecting the environment.

Consumers want to know how products are made and how using those products can impact the world they live in, and with green marketing, an organization can attract these individuals. These initiatives also help organizations compete against other companies that may not implement environmentally friendly practices.

Increases profitability and brand loyalty

Companies that are the first in their sector to offer a green product or service benefit enormously from green marketing. This strategy can help companies stand out from their competitors. As environmentally conscious consumers purposefully seek out companies with sustainable promises. Therefore, green marketing can help digital businesses effectively rebrand their marketing products to increase profitability and brand loyalty.

Lowers overhead costs

Switching to environmentally conscious manufacturing processes or using sustainable materials can sometimes lower a company’s overhead costs. By saving water and energy, a company’s monthly operating expenses can decrease substantially.

Using sustainable materials can drive waste disposal costs down as well. Even using eco-friendly construction materials when building offices, warehouses or manufacturing sites can save companies money in the long run. As they often need less maintenance and upkeep.

Helps the environment

Not only does true green marketing allow companies to garner more profit and gain more loyal consumers, it helps the planet. Companies that follow through on their promises can help significantly slow climate change and conserve the environment.

Principles of Green Marketing:

• Consumer-Oriented Marketing: The notion says that the firm should perceive the marketing activities from the consumer’s viewpoint, so as to develop a lasting and profitable relationship with them.
• Customer Value Marketing: As per this notion, the company should allot its resources that add value to the product or service they offer, rather than simply changing the product packaging. Or making a huge investment on the advertisement. this is because, when the value is added to the product, they will be valued by the customers also.
• Innovative Marketing: To strive for real product and marketing improvements, says the third principle, i.e. innovative marketing. We all know that the world is ever-changing and so does the tastes and preferences of the customers. Therefore, the company should always look for new and improved methods, to not lose customers easily.
• Mission Marketing: The company’s mission should be broadly defined, in social terms and not in the product. This is due to the fact that if a company states the mission that has some social welfare hidden in it,. The employees feel proud to work for a good cause and work in the right direction.
• Societal Marketing: As per this principle, the marketing decisions made by the company must take into account the wants and interest of the consumers, company’s requirements and the social welfare.