Considering climate change around the world, many countries have started waving red flags to products that are less ecofriendly. For example, the Chinese government imposed a heavy tax on gas-powered vehicles than electric vehicles. So, in this era where everyone is clamoring for reforms of laws that address products that cause global warming, ecofriendly products can change the view most marketing activities take. Hence, you should be familiar with Green marketing.
Green marketing is a type of marketing strategy where companies pitch the eco-friendliness of their products in their marketing activities. Climate change is the cause of major environmental disasters worldwide. For example, the Amazon Fire So, in this era where some products threaten the earth’s sustainability; green marketing can take your business to a great heights.
Who Introduced Green Marketing?
Green marketing became popular in the late 1980s and early 1990s, but it had been talked about for much longer. In 1975, the first workshop on “Ecological Marketing” was held by the American Marketing Association (AMA).
How Does Green Marketing Work?
A green marketing initiative might include a wide variety of components. The company may, for instance, provide an eco-friendly product packaged in eco-friendly materials, develop environmentally responsible procedures, or prioritize advertising campaigns that highlight the merits of its environmentally friendly offerings.
Types of Green Marketing Strategies
As the demand for green goods increases. Companies come up with different types of green marketing strategies. And some of them are below.
Green Packaging:
With this type of green marketing strategy companies produce products that their packages don’t consume an enormous amount of space. And one way of achieving this is by the use of biodegradable packs. Hence, they can leverage on the packs in their ads campaign.Electric Vehicles:
Even when a company produces green products their rebranding might not be complete if their logistics uses less ecofriendly gas-powered vehicles. So, for companies rebranding to be complete, they tend to use electric vehicles.Funding Green Project:
Another type of green marketing strategy companies can embrace in their marketing activities is funding green projects like tree planting. So, this can lead to consumers spotting them as warriors of eco-sustainability.Hosting Hackathons for Eco-friendly Projects:
By hosting these kinds of programs companies identify as not only producing green products but also encouraging a generation of out of the box thinkers to make the world better.
What Are the 4 P’s of Green Marketing?
Price, location, marketing, and the product itself are the factors most influential on purchase decisions. Consumers have decision-making authority. Customers pick things based on their requirements and desires.
What Is Green Marketing Advantages?
Green marketing advantages can also include showcasing sustainable manufacturing techniques, the usage of eco-friendly and organic office supplies, composting and recycling at the workplace, and carpooling to work.
How Do You Promote Green Marketing?
- Give Everything or Nothing at All.
- Set a good example for others.
- Use Eco-Friendly Products.
- Educate Your Employees.
- Make an investment in digital marketing.
- Demonstrate your support for environmental organizations.
- Create a green logo.
Read more: Download 500+ business plans for any business
Green Marketing Mix
Basically, the green marketing mix is the marketing mix for green products. So, it contains the same 4ps, product, place, price, and place.
Green Product:
This green marketing mix focuses on making eco-friendly products. Hence, the whole materials used in the production of the product should be the best ecofriendly materials available. For example, Nike’s Air Jordan was marketed as green as it was said that the adhesives used in its production are eco-friendly.Green Place:
This involves making the location used for the production and selling of the goods green. For example, instead of using gas powered generators for sudden intermittent gas supply, the company can use solar energy.Green Price:
Making green products more affordable when compared to the value they add is another type of green marketing mix. And even making them cheaper than their non-green counterpart shifts the market’s focus.Green Promotion:
This involves promotions showing a company’s effort towards sustaining their environment. For example, ads featuring planting of trees.
What Are Green Marketing Tools?
Green marketing tactics such as environmental belief, green packaging, green branding, green advertisement, and green labeling have been studied to determine their impact on customer purchase intentions.
Read more: Marketing Skills To Boost Your Sales
Importance of Green Marketing
Going green as a company in this 21st has its importance to the company, to the consumers and to the environment.
Ease of Governmental Pressure:
Government policies and laws are always aimed at protecting the consumer and society at large. And eco unfriendly products are usually frowned at by many governments. So, going green helps companies avoid governmental pressure.Cost Reduction:
Most green products can be recycled. So, this property makes them cheaper than their counterpart.Ease Competitive Pressure:
Governmental preference, and cost reduction are some importance of green marketing that can ease competitive pressure. When a company switch to them. While their competitors stick to non-green products.Sustenance of the Environment:
Green products are ecofriendly. So, they sustain the environment.
What Is Another Name for Green Marketing?
Environmental marketing and ecological marketing are other names for green marketing
Conclusion
Lastly, in this era that some products threaten the earth’s sustainability; green marketing can take your business to a great height.
