Green marketing refers to the process of promoting products or services based on their environmental and social benefits. Such a product or service may be environmentally friendly in itself or produced in an environmentally friendly way. It incorporates a broad range of activities, including product modification, changes to the production process, sustainable packaging, as well as modifying advertising.
This concept is becoming more popular as more people become concerned with environmental issues and decide that they want to spend their money in a way that is kinder to the planet. This type of marketing, although expensive, can be profitable due to the increasing demand.
For example, a product made locally in North America tends to be more expensive than that made overseas using cheap labour, but it may have a much smaller carbon footprint because it doesn’t have to fly across the globe to get here. For some consumers and business owners, the environmental benefit outweighs the price difference.
Moreover, there are some green marketing methods that any business can practice. The following can all be part of a green marketing strategy:
Some companies also carry out misleading methods in support of green marketing. These are referred to as Greenwashing. Some marketers try to capitalise on the growing number of green consumers by simply taking a green marketing approach to products that might not otherwise be considered green in terms of origin. They try to position their products as a better choice for the environment than the competitors when they are not.
For example, a company uses the colour green in their packaging, or the word green somewhere in their messaging, when there isn’t anything particularly eco-friendly about their product, nor is it not more eco-friendly than competing products. The practice of greenwashing is not only misleading, but it can also be damaging to a company’s reputation.
Green marketing is one of the components of a broader movement toward socially and environmentally conscious business practices. Moreover, consumers have come to expect companies to demonstrate their commitment to improving their operations alongside various environmental, social and governmental (ESG) criteria. To that end, many companies will distribute social impact statements on an ongoing basis in which they periodically self-report on their progress toward these goals.
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About the author: Riya is a pure soul, who loves to explore herself and the world around her. Writing has been magnetising her since her early teenage years.