We all have been observing the bad impacts of global warming year by year. So, why not to integrate green marketing in the promotional aspects of our business? It means integrating environmentally-friendly ways in the process of manufacturing or selling of products.
More specifically, it can involve many things from manufacturing & packaging eco-friendly products. Also, you can incorporate sustainable business practices in the daily operations.
So, you must make an attempt to merge green marketing in your business. It not just safeguards nature but also has many economical benefits. Like it can save your finances related to manufacturing or selling.
In this guide, you will get to know every detail about green marketing.
So, what’s in it for me?
- What is Green Marketing?
- Importance of incorporating green practices in business
- How Green Marketing Works?
- What is a Green Product?
- Green marketing strategies
- Why follow green marketing?
Let’s get into the guide:
What is green marketing?
It is a process of selling products or services based on their environmental benefits. The product can be eco friendly in itself or produced or packed in this way.
The implication of the destruction of forests, the appearance of the holes in the ozone layer, etc were widely published and created a wave of concern about the destruction of our natural environment.
So many consumers switch their wants to eco-friendly products, as it makes some impact on marketing.
The marketing of eco-friendly products is Green Marketing. These are Environmentally safe products or products packed in an eco-friendly way. The objectives are to make the world a greener & cleaner place.
Green Marketing has many benefits for the Environment. It is also known as Ecological Marketing or environmental marketing and they are termed as “Eco friendly”, “Recyclable” and “organic”.
The Green Market is a strategy which appeared as after human negative effects
Importance Of incorporating green practices
Green marketing is eco friendly and sustainable marketing. It is so important for the environment, for a healthy world and a greener world. Let’s learn why green marketing is so important. And, what will happen when we follow this marketing way.
- The use of plastic and related products will reduce.
- Organic products consumption will get increased instead of processed products.
- It boosts creativity as you tend to figure out new ways to manufacture eco-friendly products.
- Products like fruits, vegetables are edible organic which is in huge demand now.
- Use of paper bags will get increased instead of plastic bags.
- Use of natural fertilizers will get increased instead of chemicals in agriculture.
As I said, green marketing is not just good for our mother-earth but for the business as well. It will provide you long term benefits from a business point of view.
So, let’s uncover those benefits:
- Competitive advantage
Since consumers are also getting aware about following green practices, adopting green marketing is only going to benefit you in the long run. Many environmentally cautious people will prefer to buy your products.
Nevertheless, it will also provide you with a competitive advantage. As in, you will be considering environmental protection as your sole responsibility in business operations. Which in turn will give you tax benefits, stakeholder support, and many more things.
- Improved business growth
You will always be valued in the market over your competitors. The reason being you are ensuring environmental protection while carrying out business operations. Also, it can be considered as a part of your CSR activities which in turn will benefit you. All these things will also attract new investments in your business. Which in turn will help you grow your business exponentially.
- Savings in costs
It will also save up the operational costs as you focus on more use of natural lighting, water conservation policies, and recycling. As in, it will enable optimum utilization of natural resources. And therefore, you will save on your costs.
Nonetheless, it will boost creativity as you tend to figure out new ways to manufacture eco-friendly products. Whereby, you will find out new ways to produce green products with minimum costs.
- Improved brand loyalty
As you are following green marketing strategies, it will attract more and more green consumers. Moreover, when you are constantly putting efforts to follow green practices, it will automatically increase the consumer brand loyalty. All such positive things are beneficial in many terms. Like getting a loan, investment, etc.
- Positive brand image
In the end, this will also create a positive brand image in the minds of your stakeholders. As a result of which, new employees will be wanting to work with you. Furthermore, investors would like to invest in your business. Also, consumers will like to buy from you and become a life-long customer. In conclusion, it will benefit you positively in the long run.
How Green Marketing Works?
Green marketing is used by companies to efficiently use natural resources to manufacture & market eco-friendly products. And also, they implement sustainable business practices for environmental sustainability.
Companies ensure these 3 factors for their eco-friendliness.
- Raw material, items used for making
- The product
- Packaging of the products, in which item is sold
What is a Green Product?
Those products or services whose manufacturing, purchase, and use allows economic development while still conserving for future generations. They don’t pollute the earth nor abort natural resources.
Such products or services are eco-friendly and are biodegradable and can be recycled.
Green Marketing Strategies
Before actually starting to manufacture green products, you must come up with predefined strategies that will help you manufacture the best product with lesser costs.
So, let’s understand these strategies:
- Green design
The product you are designing should be completely eco-friendly in reality. Like the product manufacturing, designing, & packaging should always be environmentally friendly in real terms. You cannot just wrap up the things and fool your targeted audience. Doing so, it will not be profitable in long terms. So, to get started, you can adopt a sustainable manufacturing process.
- Green positioning
The next thing you can do is to integrate green marketing strategies in the business. For instance, you can adopt eco-friendly packaging for the product. Also, these practices should be incorporated in the whole & soul of your business.
For instance, you should make an attempt to bring ease in the working conditions of your employees. You must not let them work under sweaty conditions. Otherwise, it will create a wrong brand image of yourself in the market. So, you should position your brand image taking into consideration every subtle factor.
- Green pricing strategies
These strategies involve deciding the price of a product. You can try to lower the prices of products. Or else, you can make product innovations that will enhance the product value. For instance, you can design a fuel-efficient car that will be beneficial for your targeted audience & ensure environmental sustainability. As in larger quantities of fuel will be saved. Which then will sustain scarce natural minerals.
- Green disposal systems
Lastly, you should also ensure sustainable disposal of the scraps generated after using your product. Such a disposal system also ensures the safety of human health. So, you should assure that your product will get easily decomposed in the land. It will also be considered as a part of marketing activities. Your customers will appreciate your green initiative. And so, this can also be a part of your green marketing strategy.
It means misleading the people by way of green marketing. Some business organizations do not actually follow the green habits. And simply, mislead their user base. This is known as greenwashing. However, following wrong practices can hamper the brand image of business in long terms. If you get exposed, then you may have to face legal consequences. As well as, you will also lose the customer trust built over a long period.
Why follow green marketing?
Now a days, it is important that every business will integrate green practices in their business. Because we are harming our nature enormously. And as a business is a big organization, it pollutes the environment in multiple ways.
The impacts of adopting green ways are also very positive for us. This is because it provides both environmental and economic benefits. By following green marketing strategies, you tend to protect the environment. Also, it cuts down your costs as you learn to conserve the energy sources.
Adopting green marketing strategies can truly benefit your business in the long term. The reason being going green is also a need of an hour. And so, you should make every smaller or bigger effort to incorporate green promotional strategies in the business.
It can involve every effort that you make to ensure environmental sustainability. One such example can include donating finances for a green cause like tree plantation activities.
The economic benefits involve reduced operational & production costs, less energy uses, etc. With this, it can also increase sales as people value businesses that adopt green practices.
You can focus on making optimum utilization of products. Or else, you can also go for eco-friendly packaging of your product. Also, you can simply donate the funds for a great environmental cause.
It can be considered as those products that ensure optimum utilization of scarce resources, generates the scope for recycling, and reduces the pollution effects at the time of disposal.
The 3P’s are people, planet, and profits.