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Green marketing is a growing field in the marketing department. Refers to a procedure by which products and services are sold on the basis of their environmental merits.
In this case, the products can be of two types. They can be produced in an environmentally friendly way or they can be packaged in an environmentally friendly way. Green marketing is based on the premise that customers will perceive a product or service as environmentally friendly and then implement their purchasing choices accordingly. .
However, there is one assumption that green marketing doesn’t seem so obvious. This is the price increase for a product when it is labeled green. Consumers believe that since a product is organic, consumers will be willing to pay more for it. This may not always be the case.
Green marketing has its scope for maneuver because environmental awareness is now becoming the main goal in many societies. But that might not be all roses for green marketing.
Some consumers are skeptical about green claims. So, if false claims are discovered behind the company’s green claims, or if a company produces products that contradict the green claims of one of its products, the company’s brands could be seriously damaged. When a service or product is presented as an ecological product and it is not, this is referred to as “green laundry”.
Benefits
There are many advantages of such marketing. For starters, it gives the host company an advantage over the competition. The company may also find opportunities that other companies may not get. Corporate Social Responsibility (CSR) is a large part of the social responsibility of most companies, thanks to which they try to give something back to people. Green marketing helps in this.
Recently, even the government has started to put pressure on companies to become green. On the other hand, companies also prefer to go green due to the increasing competition in the market. Green marketing helps a company “stand out” from the competition. Ecology can also help a business increase profits.
Inconvenience
The first disadvantage of green marketing is that it requires a large amount of recyclable and renewable materials. It is not easy to find and definitely not cheap. Green products also require huge investments in technology. Therefore, they are expensive. They also require water treatment technology. Even that is expensive.
After so much investment, the company needs to make people aware of green products because even now many consumers are not very aware of green services and products.
Finally, even if consumers are aware of green products, why would they pay huge sums for green products when they can get the same product from alternative sources for a fraction of the price? These are the answers the corporate industry is still looking for.
Green marketing has come a long way, but still miles ahead.
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Source by Pepik Smith