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GREEN MARKETING
CONTENT Introduction Evolution of Green Marketing
Why Green Marketing?
Benefits of Green Marketing
Green Marketing Mix
Conclusion INTRODUCTION
Green marketing is typically practiced by
companies that are committed to sustainable development and corporate social responsibility. More organizations are making an effort to
implement sustainable business practices.
They recognize they can make their products more attractive to consumers, while also reducing expenses in packaging, transportation, energy and water usage, and more. WHAT IS GREEN MARKETING? Green marketing involves companies promoting their products or services in a way that showcases their eco- friendliness. •Alternate name: Eco-marketing, environmental marketing When a company showcases its eco-friendliness, that may include products: •Manufactured in a sustainable fashion •Not containing toxic materials or ozone-depleting substances •Produced from recycled materials or able to be recycled •Made from renewable materials •Not making use of excessive packaging •Designed to be repairable and not thrown away WHY GREEN MARKETING?
As resources are limited and human wants are unlimited,
it is important for the marketers to utilize the resources efficiently without waste as well as to achieve the organization's objective. So green marketing is inevitable. BENEFITS OF GREEN MARKETING Access to new markets Increase their profit sustainability
Enjoy a competitive advantage over the companies
which are not concerned for the environment.
GREEN MARKETING MIX Every company has its own favourite marketing mix. Some have 4 P's and some have 7 P's of Product Price marketing mix. The 4 P's of green marketing are that of a conventional Promotio marketing but the Place n challenge before marketers is to use 4 P's in an innovative manner. PRODUCT MIX The ecological objectives in planning products are to reduce resource consumption and pollution and to increase conservation of scarce resources. PRICE MIX 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 MIX Ads that address a relationship between a product/service and the biophysical environment
Those that promote a green lifestyle by
highlighting a product or service
Ads that present a corporate image of
environmental responsibility PLACE MIX 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. CONCLUSION Green marketing covers more than a firm's marketing claims. While firms must bear much of the responsibility for
environmental degradation, ultimately it is consumers
who demand goods, and thus create environmental problems.