Green Marketing Effects on Consumer Purchasing Behavior
User: x9YmWECpOrcrDgVlS25zRg – Added: 12/4/13
YouTube URL: http://www.youtube.com/watch?v=Q7o_Lo41bb8
Watch the video, then respond to the initial question and to 2 peer posts.
In today’s highly competitive marketplace, more and more companies are getting in on the green marketing bandwagon. Discuss your views on green marketing and how consumers are responding to green marketing.
Student 1/ Green marketing is a fairly new marketing approach that companies are starting to implement as a way to improve their marketing campaigns. Green marketing is based on having a focus on the environment and our impact on the environment when developing a marketing campaign. This can be done through the products themselves, processing methods, and the packaging of the products. Businesses realize the responsibility they have for the environment, along with the responsibility they have to satisfy their customers needs, and thus they decide to engage in green marketing. I believe green marketing is an excellent strategy because it can add to the group of people to whom you would normally be able to market. Some people may not support a company simply due to the lack of green marketing, so putting an emphasis on that could bring in additional consumers. Overall, consumers are willing to pay more for green products worldwide. However, they are less likely to be willing to pay in more developed countries. This suggests that there is not always a correlation just between the level of green marketing and the consumer purchasing goods, but that the actual good being purchased and how much the consumer cares about these goods will increase the likelihood that they will support the company.
Student 2/Green marketing refers to the process of selling products and/or services based on their environmental benefits. A product or service may be environmentally friendly in itself or produced in an environmentally friendly way. Before I watched the short video clip, I did not have any knowledge on what green marketing was. However, now that I know what green marketing is I believe that all companies should partake in the action of going green. Green marketing is practiced all over the world. In the video the speaker provided statistics that proves that consumers support going green. 29,000 respondents in 58 countries was surveyed and 50% are willing to pay more for Ecofriendly products. In order to be successful in producing and selling green products, you have to make a consumer profile that was mentioned in our last discussion. In order to know your consumer there’s a cycle you can use as a guideline. Green values and knowledge is the first step, green criteria for purchase, barriers, then you have to allow the consumer to purchase it, and lastly they’ll have to give feedback about the product. Companies must convey information to their consumers about their products. The consumers are only going to buy, if they know what they are buying. In addition, companies who go green , the cost of the product being produced will be reduced and in the end we all will benefit from the effects of green marketing because it’s a smarter more efficient way of producing.