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In: Finance

Why should marketers have an understanding of green/sustainalbe marketing practices.

Why should marketers have an understanding of green/sustainalbe marketing practices.

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Expert Solution

Sustainable marketing:

  • Green marketing may also refer to the production and marketing of goods based on their pro-environmental factors. Such a product or service may be environmentally friendly in itself, in addition to being produced in a sustainable way. This may include avoiding toxic materials in the product, the use of recycled materials in the product, products made from renewable materials, not using excessive packaging, or products designed to be repairable and not "throwaway."
  • It is a new concept in marketing and business, yet already proving to be a game changer. Based on ideas of environmental and social sustainability, sustainable marketing seeks to meet the needs of this generation without messing up the future. It's part of a much bigger theme in business that is focused on everything from wind power to eliminating trans fats, global warming, climate change, and the role of different social classes, many businesses have recognized that people who are friendly to the environment and society are also consumers. Businesses also understand that these people are so passionate about their beliefs that they prefer companies that cater to them. The recognition by established companies has created enough momentum for newer companies to take notice as well.
  • Consumers are environmentally conscious, and they want to buy from businesses who think like them. Thus, marketing sustainability will be important for businesses that want to keep or attract consumers with mindsets toward the environment, social issues, and economic growth.

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