Thinking of Going Green? Here Are Some Green Marketing Strategies…

Posted on September 10, 2010

Green Marketing gives your company a fresh perspective that many of today’s consumers have grown up to understand as necessary. Companies that are new to green marketing, admittedly, need some time to adjust their own perspective. They often question the process all the way up until they see their bottom line. What green marketing does is expand that bottom line by adding a couple of factors that government and society have deemed important for the businesses in which they deal with. Green marketing takes nothing away from traditional marketing. The 4Ps of traditional marketing are still recognized: product, price, placement, and promotion. However, the bottom line is expanded into what is called by some people, the triple bottom line: people, planet, and profit.

The hallmark of green marketing is having a green product. Low energy use is crucial in some form, whether it be how the final product or service directly benefits the consumer or how the product or service is made or delivered before reaching the consumer. In the transportation industry, for example, focus is on how the transport is tied to efficient, low-pollution fuels and the use of non-toxic materials. Green marketing turns these factors into benefits for the customer in the form of health, low costs, and compliance with state and federal law.

Pricing has always been considered the factor most determinate of profitability. Pricing, however, is not limited to sticker amount. Green marketing looks at other strategies beside the hard exchange. Pricing is looked at as a mutually beneficial relationship where both parties see results and rewards. Creative pricing can take into account identity, credibility, and ongoing service. Green cost accounting takes into consideration the true or full cost and the benefits reaped from ecological and environmental aspects of business. Formulas have been developed to translate the benefits into financial terms.

Green marketing takes advantage of virtual placement in addition to physical placement. Today’s economy is largely driven by the internet today. No longer does placement mean the location of a retail store or a shelf in that store. Modern placement takes the community and global marketing into consideration. By making service available to the community and expanding it to the nation or world, green marketing can expand profit without impacting the environment.

One of the biggest tenets of green marketing is in promotion. Green marketing supports open, two-way, communication with everyone the company deals with, excluding vital information to competitors, of course. Green marketing communication includes reporting to investors on performance and future opportunities, informing employees about the company’s role in the well-being of the community, educating customers on additional services or products provided, and showing prospective clients how the company can provide solutions to their problems. Communication doesn’t stop there. It also leaves space for feedback and response.

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