green marketing

MarketingPresented by:- Nand kishor

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 SERVICES

FINANCIAL 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

EDUCATIONAL INSTITUTIONS:

• 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

The ecological objectives in planning products are to reduce resource consumption and pollution and to increase conservation of scarce resources.

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.

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.

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.

STRATEGIES

• Marketing Audit (including internal and external situation analysis).

• Develop a marketing plan outlining strategies with regard to 4 P's.

• 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.