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Green Marketing

This document provides an overview of green marketing. It defines green marketing as activities that satisfy customer needs and wants while minimizing environmental impact. The evolution of green marketing is described as passing through ecological, environmental, and sustainable phases. Green marketing benefits companies by allowing invention of new products and services, increasing profits through sustainability, and gaining competitive advantages. The challenges of green marketing include higher costs of renewable materials and investment in technology. The document also outlines the green marketing mix of product, price, promotion, and place strategies to consider.

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Abhishek Chadda
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466 views20 pages

Green Marketing

This document provides an overview of green marketing. It defines green marketing as activities that satisfy customer needs and wants while minimizing environmental impact. The evolution of green marketing is described as passing through ecological, environmental, and sustainable phases. Green marketing benefits companies by allowing invention of new products and services, increasing profits through sustainability, and gaining competitive advantages. The challenges of green marketing include higher costs of renewable materials and investment in technology. The document also outlines the green marketing mix of product, price, promotion, and place strategies to consider.

Uploaded by

Abhishek Chadda
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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GREEN MARKETING

Presented by: Pravin Kumar Mahato Kamaljit Singh Md. Azhar Khan Vishal Jain Abhishek Dhaka Ravi Kumar Mahato

Introduction
Yes, green marketing is a golden goose. As per Mr. J. Polonsky, green marketing can be defined as, "All activities designed to generate and facilitate any exchange intended to satisfy human needs or wants such that satisfying of these needs and wants occur with minimal detrimental input on the national environment."

Green marketing involves developing and promoting products and services that satisfy customer's want and need for Quality, Performance, Affordable Pricing and Convenience without having a detrimental input on the environment.

Evolution of Green Marketing


The green marketing has evolved over a period of time. According to Peattie (2001), the evolution of green marketing has three phases. First phase was termed as "Ecological" green marketing, and during this period all marketing activities were concerned to help environment problems and provide remedies for environmental problems.

Second phase was "Environmental" green marketing and the focus shifted on clean technology that involved designing of innovative new products, which take care of pollution and waste issues. Third phase was "Sustainable" green marketing. It came into prominence in the late 1990s and early 2000.

Why Green Marketing?


Proper utilisation of resources:.
As resource are limited & wants are unlimited.

Interest of customers towards environment:

Benefits of Green Marketing


Invention of new products &services. Increase their profit sustainability., and Enjoy a competitive advantage over the companies which are not concerned for the environment.

Adoption of Green Marketing


There are basically five reasons for which a marketer should go for the adoption of green marketing. They are Opportunities or competitive advantage Corporate social responsibilities (CSR) Government pressure Competitive pressure Cost or profit issues

Green Marketing Mix


Every company has its own favourite marketing mix. 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.

Product
The ecological objectives in planning products are to reduce resource consumption and pollution and to increase conservation of scarce resources .

Price
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.

Promotion
There are two types of green advertising:

Those that promote a green lifestyle by highlighting a product or service Ads that present a corporate image of environmental responsibility

Place
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.

Strategies
The marketing strategies for green marketing include: Marketing Audit . Develop a marketing plan outlining strategies with regard to 4 P's .

Challenges Ahead
Green products require renewable and recyclable material, which is costly . Requires a technology, which requires huge investment in R & D . Water treatment technology, which is too costly .

Majority of the people are not aware of green products and their uses . Majority of the consumers are not willing to pay a premium for green products .

Conclusion
Green marketing should not neglect the economic aspect of marketing. Marketers need to understand the implications of green marketing.

If you think customers are not concerned about environmental issues or will not pay a premium for products that are more eco-responsible, think again. You must find an opportunity to enhance you product's performance and strengthen your customer's loyalty and command a higher price. Green marketing is still in its infancy and a lot of research is to be done on green marketing to fully explore its potential.

References
Chopra, S. Lakshmi (2007), "Turning Over a New Leaf", Indian Management, Vol-64, April-2007 Ottman, J.A. et al, "Avoiding Green Marketing Myopia", Environment, Vol-48, June-2006 www.greenmarketing.net/stratergic.html www.epa.qld.gov.au/sustainable_ industries www.wmin.ac.uk/marketing research/marketing/greenmix.html

THANK YOU

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