CONTENT• Definition• Introduction• Why Green Marketing• Green Aspects in Services• Benefits Of Green Marketing• Green Marketing Mix• Strategies• Challenge Ahead• Conclusion• Strategies
DEFINITION• Marketing of products /or services based on their environmental benefits.• Incorporates a broad range of activities• product modification• changes to the production process• packaging changes• modifying advertising
INTRODUCTION• "Green or Environmental Marketing consists of all activities designed to generate and facilitate any exchanges intended to satisfy human needs or wants, such that the satisfaction of these needs and wants occurs, with minimal detrimental impact on the natural environment."
WHY GREEN MARKETING• Opportunities or competitive advantage.• Corporate social responsibilities (CSR).• Government pressure.• Competitive pressure.• Cost or profit issues.
GREEN ASPECTS IN SERVICESFINANCIAL SERVICES:• Use of electronic printing media• Use of technology to cut short the usage of paper• High accessibility rate to reduce the mile coverage by the users and the executives• Use of air conditioners with high star-rating and CFL lighting to reduce power consumption• Green planting spread within the working space
TRANSPORTATIONSERVICES:• Wide spread public transport system• Heavy investment to avoid use of diesel• Using recyclable products• Electric vehicles for rent
MEDICAL SERVICES:• Donation camps• Rural areas visits• Free check-up• Free medication• Integration of all services under one roof• Paper covers instead of plastic
EDUCATIONALINSTITUTIONS:• Use of electronic media to avoid paper and other stationary• Make students participate in social welfare activities• Maintain greenery in the campus• Discourage the use of personal vehicles• Use power efficient equipment
RETAIL SERVICES:• Discourage plastic bags• Wax paper printing• Online trading• Help raise funds for needy• Moderate lighting• Spread maximum products• Promote green products
Benefits of Green Marketing• Companies that develop new and improved products and services with environment inputs in mind give themselves access to new markets, increase their profit sustainability, and enjoy a competitive advantage over the companies which are not concerned for the environment.
Green Marketing Mix Four P’s Product Price Place PromotionThe ecological Price is a critical and important Ads that address a relationshi The choice of between a product/serviceobjectives in factor of green marketing mix. where and when toplanning products Most consumers will only be and the biophysical make a product environment.are to reduce prepared to pay additional value available will haveresource if there is a perception of extra Those that promote a green significant impact lifestyle by highlighting aconsumption and product value. This value may be on the customers.pollution and to improved performance, product or service. Very few customers Ads that present a corporateincrease function, design, visual appeal, will go out of theirconservation of or taste. Green marketing image of environmental way to buy green responsibility.scarce resources. should take all these facts into products. consideration while charging a premium price.
STRATEGIES• Marketing Audit (including internal and external situation analysis).• Develop a marketing plan outlining strategies with regard to 4 Ps.• Implement marketing strategies.• Plan results evaluation.
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.• Green marketing is still in its infancy and a lot of research is to be done on green marketing to fully explore its potential.
SUGGESTIONS• Improve awareness about green products and there effectiveness.• Green products should be priced according to it’s quality.• There should not be more price difference between standard product and green product.• Green product’s quality should be better than standard products.