Green Marketing Summary Essay Example

packaging changes, and modifying advertising.

Why Is Green Important?

The importance of green marketing becomes evident when considering the basic definition of Economics: Economics is the study of how people use their limited resources to try to satisfy unlimited wants.

Humanity is confronted with the challenge of limited resources on Earth as it strives to satisfy limitless desires. Although this paper does not discuss the feasibility and reasonableness of these desires, market-based societies generally recognize the freedom of individuals and organizations to pursue them. However, given the scarcity of natural resources, businesses must adopt innovative approaches to meet these unlimited wants. Green marketing investigates how marketing strategies can efficiently utilize these finite resources while simultaneously meeting consumer demands and achieving organizational goals. The increasing concerns about sustainability have made green practices more popular and mainstream than ever before.

Businesses worldwide are increasingly embracing green marketing due to recognizing the importance of sustainable practices and obtaining necessary approvals from governing bodies. However, there remains a significant gap between their understanding of green marketing and its actual implementation. There are various reasons why marketers should consider adopting green marketing:

1. Opportunities or competitive advantage
2. Corporate social responsibilities (CARS)
3. Government pressure
4. Competitive pressure
5. Cost or profit issues

Opportunities

With changing consumer demands, many firms see these changes as opportunities to gain a competitive edge over companies that market non-environmentally responsible alternatives. For example, McDonald's replaced its clam shell packaging with waxed paper to address concerns about polystyrene production

and ozone depletion. Another instance is Surf Excel detergent promoting water-saving practices through its "do bucket pain orzo bacchanal" message.

The energy-saving LEG consumers durables and green buildings are both examples of green marketing. Green buildings are designed to be efficient in their use of energy, water introductions materials, and reduce their impact on human health and the environment through better design, construction, operation, maintenance, and waste disposal. In India, the Confederation of Indian Industry (CII) - Godard Green Business Center has led the green building movement which gained significant momentum in recent years. Indian's green building footprint has increased from 20,000 sq ft in 2003 to over 25 million sq ft

.

Xerox has introduced a recycled photocopier paper that is of "high quality" in order to meet the demands of companies for products that are less harmful to the environment.

Corporate Social Responsibility

Many companies are realizing the importance of being socially responsible and are integrating environmental objectives into their corporate culture alongside profit-related objectives. Some companies, like the Body Shop, heavily promote the fact that they are environmentally responsible. This behavior is driven by their competitiveness, as the company was established with the specific intention of providing consumers with environmentally friendly alternatives to conventional cosmetic products.

This philosophy is closely linked to the corporate culture and is not just a competitive strategy. Even fund managers and corporate developers consider the environmental sustainability of the companies they invest in. Venture capitalists are also investing in green businesses because they see it as an opportunity for growth.

Last year, HASH, a bank based in Britain, became the first global bank to achieve carbon neutrality. They are now transforming their

11,000 buildings in various countries into examples of energy efficiency. They prioritize being a good neighbor because their customers have expressed that they choose where to shop based on this factor.

"Coca-Cola is an example of a firm that lacks promotion of its environmental initiatives," said Saturdays North, Deco's community director. The company has made significant investments in recycling activities and has also adjusted its packaging to reduce its environmental impact.