Green marketing strategies

Abstract: This chapter presents the fundamentals of “green” marketing by drawing on traditional marketing theory as well as research focused on green marketing context. It discusses five critical areas in green marketing. The first critical area stems from green marketing theory and practice that examines the logic for reducing the environmental impact of value creation and exchange. The second critical area highlights green marketing strategy that focuses on achieving organizational goals in ways that can reduce or eliminate negative impacts on the natural environment. The third critical area examines the green marketing mix that accounts for green products, green distribution, green pricing, and green promotion. By using traditional marketing concepts, the chapter identifies how the entire marketing mix elements should consistently provide a complete green product offering. Green products and processes need to be researched, designed, and manufactured to include environmentally safe ingredients and components. Products need to be strategically priced to reflect their green values, distributed in the green chain channels and displayed effectively to highlight their status, and accurately communicated to consumers and stakeholders. The fourth critical area illustrates governance and control. It shows how the holistic transformation toward greening the organization requires organizational culture change to gain support within and outside the firm to ensure environmental issues are appropriately considered. These can be assessed by using existing management mechanisms, such as environmental management systems and/or triple bottom line management, which ensure best practice and continuous improvements to occur. Lastly, the chapter discusses the future of green marketing and the direction that businesses need to take if they seek to be sustainable.