Introduction to Sustainable Marketing
What is sustainable marketing?
Sustainable marketing is promoting products or services in a way that considers environmental, social, and economic considerations. It's a way for companies to meet the needs of their customers and stakeholders while also minimizing their impact on the planet and society.
According to marketing expert Philip Kotler, sustainable marketing "is a process of creating, communicating, and delivering value to customers in a way that recognizes and incorporates the concept of sustainability, both in the marketing process and in the products themselves" (Kotler et al., 2010).
Sustainable marketing can take many forms, including:
Green Marketing: This type of sustainable marketing focuses on promoting products or services with environmental benefits. For example, Patagonia is a company that sells outdoor clothing and gear, and they are known for its commitment to sustainability. They use recycled materials in their products, and they have a program called "Worn Wear" that encourages customers to repair and reuse their clothing instead of buying new items. Patagonia's mission is to "build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis."
Socially Responsible Marketing: This is a type of sustainable marketing that focuses on promoting products or services that have a positive impact on society. For example, Toms Shoes is a company that sells shoes and eyewear, and they have a "One for One" program. For every pair of shoes or eyewear that a customer buys, Toms donates a pair of shoes or eyewear to a child in need. Toms' mission is to "improve lives through business."
Cause-Related Marketing: This is a type of sustainable marketing that focuses on promoting products or services that support a particular cause. For example, during Breast Cancer Awareness Month, many companies sell pink products, and some proceeds go to breast cancer research. The Body Shop is a company that sells skincare and beauty products, and they have a program called "Community Trade" that supports fair trade and ethical sourcing.
There are many benefits to sustainable marketing. According to a study by Nielsen, "consumers around the world are willing to pay more for products and services that come from companies who are committed to positive social and environmental impact" (Nielsen, 2015). Sustainable marketing can also help companies reduce costs, increase customer loyalty, and differentiate themselves from competitors.
Sustainable marketing is the practice of promoting products or services in a way that takes into account environmental, social, and economic considerations. It can take many forms, including green marketing, socially responsible marketing, and cause-related marketing. Sustainable marketing is important because it can help companies meet the needs of their customers and stakeholders, while also minimizing their impact on the planet and society.
