Sustainable Marketing Triple Bottom Line
TBL or Green Mix: People, Planet, Profit: How to create value around these
Marketing: It’s about creating, communicating, deliver, value to the target market and earn profit. All about creating value to the stakeholders. Marketers don’t create need, the need is internal but they know how to target this need. They make people aware of their needs. The job is to turn the wants into needs. Ex of TBL: Lakefield Wind Project. People and Profit: New local jobs that bring revenue to the economy. Environment: Renewable enegy rather than fossils fuels.
1- Green Marketing: All efforts to consume (raw materials), produce, distribute, promote, package, and reclaim (recycling) products in a manner that is sensitive or responsive to ecological concerns. 2- Green marketing management: The process of planning and executing the marketing mix to facilitate consumption, production, distribution, promotion, packaging, and product reclamation in a manner that is sensitive or responsive to ecological concerns. 3. Sustainability: “Development which meets the needs of the present without compromising the ability of future generations to meet their own needs”. Gro Harlem Brundtland (1983)
Sustainability takes place when all TBL overlap.
Why Green Marketing is important?
1. Environment • Fossil fuel consumption, coal for electricity, gasoline burned for automobile transportation, air pollution, water pollution, land degradation, endangered species.
2. Developing Economies • Low income, underdeveloped assets, and economic vulnerability • High dependence on the agricultural sector • Increased exposure to drought, intense storms, floods, and environmental stress • Increasing pressure on urban areas • Leapfrog antiquated operations with efficient and environmentallyfriendly designs 3. Consumers • Knowledge that they are doing their part to reduce climate change • Associated with environmentally-friendly products and organizations • Ecologically friendly products without sacrificing other valuable features • Image • Employees • Financial markets • NGO’s • Redefine markets • Improve environmental quality and customer satisfaction • Product life cycle costing • Product differentiation • Packaging
4. Corporate Strategy
5. The Product
6. Production Processes • Material costs • Just-in-time (JIT) inventory procedures • By-product considerations • From raw material mining to consumption. • Eliminate waste in the supply chain result in firms analyzing truck loading and route planning in the delivery process • Trace products throughout the supply chain • A level of insurance of product quality
7. Supply Chain
Groups that need to understand Green Marketing
• Reduce their personal influences on the environment. • Ancillary, financial benefits from product offerings that are designed to be sustainable • Lower expenditure costs and limit influences on the environment • Better positions to develop regulations strategies that serve the needs of society and industry • Standard bearers for green marketing expect significant scrutiny and publicity from environmentally questionable activity • Companies singled-out for nefarious acts against the environment must address green marketing issues if they seek to change their reputations • Companies highly dependent on scarce human capital • Companies with high brand exposure • Companies with low market power • Companies dependent on natural resources (oil, fish, and forestry) • Hazardous materials • Utilities, • Automobile producers, and • Airlines • Electronics industries
Companies (With established green reputations)
(operating in highly regulated industries)
Strategic Green Planning
Green Marketing Planning Process of creating and maintaining a fit between the environment (PESTEL) and objectives and resources of the firm .“Fit” refers to...
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