Definition: Green Marketing is a relatively new concept, which involves the promotion of products and services which are safe for the environment. It involves development, manufacturing, promotion, distribution, consumption, and disposal of the products and services in a sustainable fashion so that least damage is caused to nature.
In this way, the marketing of the company’s offering is done on the basis of its environmental advantages. Activities may include product adjustment, change in the process of production, change in advertising and sustainable packaging of products.
The primary aim is to reduce the adverse effects of the products and its consumption and disposal, on the environment. This means that the products and services are either eco-friendly or produced in an eco-friendly manner, which does not harm the environment.
Objectives of Green Marketing
The objectives of green marketing are boiled down in the points given below:
- To adhere to corporate social responsibility.
- To reduce expenses.
- To showcase how environment-friendly the company’s offerings are.
- To communicate the brand message
- To implement sustainable and socially accountable business practices.
- Whole Foods: An American supermarket chain, owned by Amazon, known for selling organic products, which does not contain hydrogenated fats, flavours, preservatives, sweeteners, flavours and artificial colours.
- Starbucks: Starbucks is the largest coffeehouse chain in the world with a presence in more than 70 countries. It promotes sustainable practices to grow coffee.
- The Body Shop: A British cosmetic and skincare giant, which offers products which are cruelty-free, and use natural ingredients.
What is Green Marketing Mix?
- Product: The products should be designed and developed in such a manner that they use fewer resources and are pollution-free, plus they do not contain any toxic substance, whose use can be harmful. Moreover, the product must increase the conservation of scarce resources.
- Price: In green marketing, price plays a prominent role, as the customers are going to pay the additional price, only when there are of the view that they will be getting the premium quality products, in terms of design, performance, appeal, taste, or anything else.
- Promotion: Green advertising can be done in three ways, i.e. there can be ads which display the connection amidst the product and the environment, or ads which promote a green and organic lifestyle, or ads that showcase a corporate image of environmental responsibility.
- Place: Place defines the availability of the products and so the marketers should opt an ideal way to make such products available as it will have a great impact on the customers.
It is a well-known fact that any sort of production consumes energy and also produces waste. So, green marketing could be a great marketing initiative, taken by the firm.
Green Marketing Practices
It involves a wide spectrum of activities, to create an eco-friendly image of the company, to its target audience, such as:
- Using recycled and renewable material for production.
- Use of green energy to produce products, such as solar energy, geothermal energy and wind energy.
- Reduce product packaging or use ecofriendly packaging.
- Not using toxic materials, which are harmful to the environment.
- Making products which are reusable as well as recyclable.
So, basically, green marketing is all about developing and promoting products and services that fulfil customer requirements, in terms of quality, performance, affordability, availability and safety, but without causing any damage to 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.
Therefore, green marketing demands products and services which are not only eco-friendly but also beneficial for society.