Sustainable Marketing: Benefits, Challenges, and Strategies

This document discusses the concept of sustainable marketing, focusing on the benefits, challenges, and strategies involved. It explores the issue of greenwashing and its impact on businesses. The document also emphasizes the importance of eco-friendly products and the role of market transparency in sustainable marketing.

Introduction
Transcript
Organizations all over the world have joined hands to ensure that businesses operate
using the minimum requirements which have been imposed by various certification bodies.
These measures have been put in place because of unethical business practices which have been
employed by companies in order to maximize profits. Such unethical operations risk putting
future generations in trouble as there may not be enough natural resources required to
manufacture products and services in the future. Sustainability marketing is aimed at ensuring
that companies manufacture eco-friendly products which are safe for human consumption. Eco-
friendly products have also proved to be beneficial to the organization in various ways which
will be discussed later in this video.
Let’s now focus on issues which are in sustainable marketing. The major issue which all
of you can agree with me is green washing. For those who are not familiar with the term green
washing, it is a situation where a company pretends to be practicing sustainable business
operations so as to gain a good reputation. In a real sense, the company does not practice
sustainability and actually engages in various unethical business operations. The issue has forced
many companies to purchase products which are not eco-friendly just because its manufacturer
has assured members of the public that the products have gone through a safe manufacturing
process which may not be the case.
The marketing mix consists of product, price, place, and promotion. The product should
be produced using eco-friendly processes and raw materials so as to achieve an eco-friendly
product. The company is supposed to list all the raw materials which have been used to

manufacture the product so that the customers can purchase the product that fully meets their
preferences and needs. The production of the product should be based on long term strategies so
as to avoid fluctuations in prices. The prices should also be the same as the value of the product.
The customer should not charge customers high prices as this will lead to customers
moving to supplement products which are cheaper. The promotion activities should also embrace
sustainability both socially and environmentally. The company is supposed to disclose all the
information concerning the product so that members can be fully informed of the company to be
socially responsible. The promotion should not be against the morals and social values of the
society. Promotions which propagate fight, violence, alcoholism, and sex among young children
should be banned or run in places which young people have no access to such as night clubs and
bars. The place where the products can be found can also be used in promoting sustainable
marketing. The place can have adverts which encourage recycling and even ways of reusing the
purchased products.
Market transparency is one of the factors which will encourage sustainable marketing as
consumers require information about products they consume, the customers need the company to
publish its financial reports and also publish corporate reports which indicate the initiatives the
business engages in trying to improve the welfare of the society. One of the biggest challenges in
sustainable marketing is maintaining the price gap with companies which are not practicing
green marketing. To be sincere, green marketing is expensive and to produce eco-friendly goods
is also expensive. To help the companies which have embraced the initiatives, the government
has come up with incentives so as to level up the playing field.
As non-compliance companies charge low prices, which makes them attract more
customers. Actually who does not like cheap and quality products? If you don't, I do. The

government has reduced taxes for companies which practice sustainable business practices. This
is aimed at encouraging companies to embrace sustainable business practices. Companies which
practice sustainable marketing have also managed to stay out of troubles for long as they do not
face legal tussles with customers or competitors. The company reduces operational costs as it
does not incur legal fees. Legal tussles also taint the image of many companies. You cannot tell
me you do not know a certain company which was crippled because of scandals unless the earth
is not your home. Companies engaging in sustainable marketing have a good reputation and
everyone wants to be associated with companies which have a good public image. This leads to
retention and acquisition of more customers. This translates to more revenue and profits as the
company enjoys tax cuts from the government. Is not this what we call killing two birds with one
stone? Now you are well informed.