- Slides: 16
Green and Sustainable Marketing
Sustainable Marketing Sustainable marketing is the process of creating , communicating and delivering value to customers in such a way that both natural and human capital are preserved or enhanced throughout. This value created should be long-term value for both business and society
Responsible Business Value – long term value for both business and society Balance – to accommodate conflicting stakeholder interests and identifying where responsibilities reinforce or overlap Accountability – taking responsibility for actions and consequences and acting transparently
Reponsible Individuals The Natural Step Framework (TNSF) is a science based, systems-oriented framework for strategic decision making. Manfred Max-Neef fundamental principles for human survival – susbsistence, protection, affection, understanding, participation, leisure, creation, identity, freedom. They are not substitutable and any absence or lack of them is felt as a kind of poverty
Capital versus Resources Capital is something in which to invest Resources are something to be used
Quality of life Does this purchase move me closer to a sustainable way of living? Does this purchase leave me the flexibility to continue making positive impacts as my conditions change? Does this purchase provide me with adequate gains in terms of overall well-being?
Ensuring sustainability Re-use Recycle Remarket
When is Marketing sustainable? Sustainable Marketing Myopia – by overlooking the socio-environmental attributes of a sustainable product or service at the expense of customer benefits and values. Green Marketing Myopia – when improved environmental quality and customer satisfaction are misjudged or overemphasised at the expense of either. Sustainable marketing aims at marketing sustainable products and services which satisfy customer needs and significantly improve the social and environmental performance along the whole life cycle, increasing customer value and achieving company objectives.
Sustainable Consumption that meets people needs without compromising the ability of other people to meet their needs, either now or in the future. Consumers can co-create, co-produce and co-market goods and services
Challenges of sustainable marketing What is ‘good’ and ‘bad’ marketing? Should companies care for the environment or society? Is CSR a bane or a boon? What is a realistic profit? How to collaborate to devise new ways of creating value?
The three ‘E’s of sustainability Ecological (environmental) Equitable (social) Economic The triple bottom line (People, Planet, Profit)
Management of Waste Radical resource productivity – making most of limited and irreplaceable resources Biomimicry – what is waste for one industry is raw material for another Service economies – meeting consumer needs with services and viewing good as a means of service delivery. Reinvestment – using cost savings or efficiencies gained through more efficient use of resources for investment in additional productive capital.
Corporate Social Responsibility Is a company only answerable to its Bo. G and shareholders? Does it have a responsibility to the society at large? Should it ‘take’ from the environment and not ‘give back’ anything? What should be its role as a corporate citizen?
Marketing Ethics The analysis and application of moral principles to marketing decision making and the outcomes of these decisions.
Vulnerable areas Advertising deception Sexual and shock appeals Falsifying research data Omitting/incomplete information Price collusion Bribery Bid rigging Marketing to children and geriatrics
Coalition for Environmentally Responsible Economies (CERES) A non-profit network of investors and NGOs. 10 point code of corporate environmental conduct Protection of the biosphere Sustainable use of natural resources Reduction and disposal of wastes Energy conservation Risk reduction Safe products and services Environmental restoration Informing the public Management commitment Audits and reports Sustainability audits