Green marketing is concerned with choosing, developing, and promoting commodities that meet the quality, quantity, and price expectations of consumers without negatively impacting the environment. The demands, wants, and needs of human beings are limitless; however, the sources available to satisfy them are limited.
A study found that most consumers of green products are very likely to be educated young people, aware of eco-friendly practices. To put it simply, it is the marketing of eco-friendly products and services. A multi-dimensional approach, unlike conventional techniques, green marketing aims to strike a balance between the buyers’ wants and our planet’s needs.
Its primary practices include ecological, environmental, and sustainable marketing practices. This is an era where numerous sustainable methods are gaining momentum; however, three green marketing factors majorly impact consumer behaviour:
1) Eco-labelling: Eco-labelling is a significant factor impacting the buying pattern of consumers. It conveys information relating to the environmental concerns of consumers and the characteristics of the product. The impact of a commodity on the environment is considered a vital part of its life cycle, and it serves as a credible attribute. Eco-labels help consumers to identify products and services, which have the least environmental footprint.
2) Green packaging, branding, pricing: With rising environmental concerns, the sentience of the consumer regarding green packaging and branding has led to a more environmentally friendly attitude. With efficient green positioning and differentiation, brands can alter the consumers’ perception of green products. Also, the consumers are now making informed choices. They don’t just go by the appearance of the product but also look at the overall brand and what it stands for.
3) Green products pricing: It has always been perceived that green products are expensive as compared to their counterparts. However, there are several reasons for this, and nearly all of them are comprehensible. These entail an absence of demand, quality raw materials, or fair and equitable business practices. Of course, there are other factors as well, such as self-sabotage. Hence, consumer behaviour is also affected by the quality of green products and their pricing to a greater extent.
Balance the wheel eco-friendly buyers and marketers
A product’s eco-friendliness depends on the entire production process that goes into it. All the steps involved, from the raw materials used, the manufacturing process to the product usage and disposal, should have a minimal or zero environmental impact. The concept of reduced or no impact brings down pollution levels as well as conserves non-renewable resources and scarce resources. Green products should be developed, priced and positioned carefully.
Several consumers opt for general commodities and walk away from green ones because they feel these items are not pocket-friendly. Marketers need to notify customers about the value that eco-friendly products add while making their pricing competitive. Buyers environmental perils are well-known among modern buyers. Consequently, they are eager to protect and preserve the environment.
Consumers who are environmentally aware are enthusiastic about purchasing products or services that have no detrimental effects on the surroundings. Bamboo products and products made of corn-starch or those without plastic tend to excite these individuals, who are up to take responsibility for their actions and contribute towards sustainable goals.