PAPERmaking! FROM THE PUBLISHERS OF PAPER TECHNOLOGY Volume 2, Number 1, 2016
Reasons for Adopting Green Marketing 1. Opportunities available and competitive advantage. 2. Corporate social responsibility on the part of companies. 3. Government regulations. 4. Competition with other responsible companies. 5. Goodwill of the company.
6. Environmentally conscious consumers. 7. For conserving scarce natural resources. Green Marketing Mix
Every company has its own favourite marketing mix. Some have 4 P's and some have 7 P's of 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 [7]: Product The ecological objectives in planning products are to reduce resource consumption and pollution and to increase conservation of scarce resources [8]. 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 three types of green advertising: a. Ads that address a relationship between a product/service and the biophysical environment b. Those that promote a green lifestyle by highlighting a product or service c. 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. Challenges of Green Marketing Ahead - Problems of green marketing Many organisations want to turn to green, as an increasing number of consumers want to associate themselves with environmentally friendly products. Alongside, one also witnesses confusion among the consumers regarding the products. In particular, one often finds distrust regarding the credibility of green products. Therefore, to ensure consumer confidence, marketers of green products need to be much more transparent, and refrain from breaching any law or standards relating to products or business practices [9-12]. Examples of green marketing in Indian companies Wipro and Infosys : Wipro and Infosys’s are going green . Wipro launched desktops, laptops are known as Wipro green wares. It was the first company in India who developed eco-sustainability in the form of energy, water efficiency and waste management. Wipro are actively seeking to become a very green company. Wipro has taken various initiatives
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Article 9 – Marketing (Green Concepts)
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