Posted in Marketing and Strategy Terms, Total Reads: 512
Definition: Green Marketing
It is the marketing of products and services based on the environmental benefits. Such products are environmentally friendly in itself or produced in an eco-friendly way. Green marketing comprises of a broad range of activities which includes product modification, changes to the production process, sustainable packaging and/or modifying the advertisements.
Green marketing is also known as ecological marketing or environmental marketing or sustainable marketing. The assumption with Green marketing is that potential consumers will prefer the Green product over others and will see “Greeness” as a benefit and base their decisions accordingly.
Lately, companies are focusing more on Green marketing in order to do business in a sustainable manner and assuming that by promoting environmental benefits as their core value hoping that consumers will link these values with the brand and will be loyal to the brand. Though Green marketing is a trending phenomenon as increasing number of consumers is getting conscious towards the environment, it can be dangerous. The image of the company can take a jolt if the green claims of the company are proved to be false which can seriously damage their brands and sales.
Example: The Body Shop markets itself as a cosmetic product which is prepared using herbal ingredients thereby encouraging sustainable and organic farming methods.