Being Environmentally friendly is now a very popular marketing strategy for companies. There is a special customer market that is extremely attracted to this strategy. There are also a plethora of other benefits.
One big benefit is that going “green” can give your company unique product placement. Going green can allow your business to market itself as a luxury brand, because most consumers view environmentally friendly products as higher quality. This allows your company to be in a unique spot and have the ability to charge more for their products or services. Another big gain you can thank green marketing for is that there are more opportunities to innovate. For example, you could take a manufacturing process and re-create it to be environmentally friendly and compete to innovate a new process, that other corporations will envy. I found this very interesting. As people in our country and others around the world move left, more environmentally friendly, and more purchase aware, the demand for this type of product will increase exponentially. It’s very important to note that marketing your company as green or environmentally friendly, will bring in a huge millennial market. The millennial market is the most statistically likely to buy a product, or buy from a company that is environmentally friendly. There are over 1.8 billion millennials today, that is a huge market! I do not think that people want to destroy the wonderful earth that we live on, so that means that a good amount of people would buy a product if they think it will help in efforts to stop harming earth.
To wrap everything up, There is a special customer market that is extremely attracted to this strategy. Marketing with this strategy can give your company unique product placement, allowing you special benefits. There are more opportunities to innovate new processes and products. in the end, this tactic gives you access to a huge market.
BoweryJE22
This post is very interesting. Going green definitely has positive implications that attract strong markets, such as millennials. However, I feel like going green can be hard to implement for an existing product. A company would have to change portions of their process, which requires a large amount of revenue. Thus, companies should try to go green from the beginning to avoid costly changes later.
I think you’ve made some interesting points in your post. Going green can have wonderful impacts on the environment. Oftentimes, especially in the business realm, we neglect the environment in our decision-making process. Producing products that are environmentally sustainable is one way to ensure the world becomes a greener place (both monetarily for our businesses and in the surrounding environment).
I think this is a great perspective to have when it comes to sales. I agree that being eco-friendly is a status sybmol, and that is naturally reaches a niche of people. Going green does attract young people in particular, but I think from a sales point of view, it tests how much young people really care vs. them wanting people to see them as one who cares.