What is Green Marketing?
Green marketing is a business practice that involves the production and distribution of products that satisfy human needs and wants that have a minimal impact on the natural environment. It is also called eco-friendly, sustainable, recyclable marketing that presumed products to be environmentally safe.
Green marketing is an emerging marketing concept that aims at selling products or services based on their environmental benefits. Such a product or service may be environmentally friendly or produced and packaged in an environmentally friendly way.
The green marketing campaigns highlight the four main terms:
- Superior environmental protection characteristics of the company’s products and services.
- Whether those benefits take the form of reduced waste in packaging.
- Increased energy efficiency is product use.
- Decreased release of toxic emissions and other pollutants in production.
Green marketing is becoming more popular as more people become concerned with environmental issues and decide that they want to spend their money in a way that is kinder to the planet. It can involve a number of different things, such as creating an eco-friendly product, using eco-friendly packaging, adopting sustainable business practices, or focusing marketing efforts on messages that communicate a product’s green benefits. This type of marketing can be more expensive, but it can also be profitable due to the increasing demand.
Since more people are concerned about the effects of products on environmental sustainability the concept of green marketing is becoming inevitable. Today, most companies put the environment as their first priority. Some of the companies that incorporate the go green – sustainable values concept are Toyota, P&G, Patagonia, Starbucks, Timberland, IKEA, etc.
The 4Ps of Green Marketing
The 4ps of green marketing is the incorporation of the 4ps of marketing mix with the green. It is also referred to as green marketing mix and components of green marketing, which are as follows:
Green Product
A producer should offer ecological products that do not contaminate the environment, protect it and even minimize the existing environmental damages. More specifically, the green products should not:
- Endanger the health of people or animals.
- Damage the environment at any stage of its life, including manufacture, use, and disposal.
- Consume a disproportionate amount of energy and other resources during manufacture use or disposal.
- Cause unnecessary waste, either as a result of excessive packaging or due to short used life.
- Involve the unnecessary use of or cruelty to animals.
- Use materials derived from threatened species or environments.
Green Price
Prices for green products may be a little higher than other conventional alternatives. However, target groups like or accept these prices as they know that they are using a product that doesn’t harm the environment.
Green Place or Eco-Labeling
The primary focus of green promotion lies in the fact of distribution logistics should consist of ecological packaging. It emphasizes the distribution of products by using a simple logo mentioning the products as green on packages, offering consumers clear guidance based on expert information.
Green Promotion
The primary focus is that communication with the market should put stress on environmental aspects. For example, the company may possess an ISO 14000 certified certificate. If so, this may be publicized to improve the company’s firm’s image. Furthermore, the fact that a company spends expenditures on environmental protection should be advertised. Firms must also focus on sponsoring the natural environment as much as possible.
Benefits
The benefits of green marketing are as follows:
New Opportunities. First of all green marketing creates new opportunities for business organizations and marketers. People are now more educated and rational and they are now more environmentally conscious. They prefer the products that bring an equal amount of profit to earth as it serves them. A smart marketer can itself create an opportunity by adopting new methods to support green.
Environmental Advantage. Ultimately the goal of this eco-friendly marketing is to offer an environmental advantage. It includes a broad range of activities such as changes in the production process, product modification, packaging in a way that has a minimal negative impact on the environment. It helps to make a better place for future generations to live happily.
Fulfill CRS. Today, every company’s goal is to fulfill corporate social responsibility where they must meet economic, legal, ethical, and philanthropic responsibilities. It helps companies to fulfill corporate social responsibility, as it is the best way to tell society that “Yes, we care for the environment.”
No Government Pressure. The government of every nation has formed some rules and regulations regarding the principles of eco-friendly business. The business firm adopting this eco-friendly method abide by the government’s instruction and does not have to face any intervention later.
Long-Term Growth. Adopting eco-friendly marketing is a good option and it makes sense to stand in long run. Today, as the population and pollution increase most people prefer environmentally products, and this rate increasing at more speed than it was before.
Customer Attraction. Now people are more serious about the health of their surrounding environment and earth as a whole. They prefer the products having environmental benefits either its price is high, for their high and long life expectancy.
Innovation. Green marketing promotes innovation. All the machines are now available to support the green environment once were someone’s innovative idea. It emphasizes producing products that protect the environment and satisfy human needs effectively and efficiently.
Competitive Advantage. This concept creates a new market for smart marketers. A marketer who makes the more environmentally efficient product is likely to get more customers and sales and ultimately earn more profits. Because in this competitive age quality of products with environmental benefits matters most.
Cost Reduction. Initially, this eco-friendly marketing method is expensive requires sophisticated machines and equipment but it is worth reducing cost in long run. Once the product is made by adopting this method, the product has a very long life expectancy, which reduces the defaults in the products and rate of reproducing.
Relationship Building. It does not only supplies environmentally beneficial products but also promotes good relations with the customers. Being consistent with relationship marketing, it applies the relationship marketing ideas to gain new customers, build a strong bond, and retain them for long-run success. And, lastly increasing the profits for the firm.
Prolong the Life of Business and Earth. We and business only exist when the earth is safe. Green marketing promotes eco-friendly products which have ingredients that do not harm rather support the ozone layer and the atmosphere around us.
Requirements of Green Marketing
A green marketer must fulfill the following requirements for promoting green marketing.
- Know the right customers that appreciate green products.
- Empowers and communicates with customers about your green products.
- Be transparent and genuine. Do not fake if you are not concerned about the environment.
- Green products are relatively high in cost. Consider that aspect in pricing.