Sustainable Management
Helo123
8Marketing.pptxWeek 11: in Review
Sustainability requires an embedded approach – treating it as an ‘add-on’ will not help to achieve the desired results
There are many tools aimed to help embed sustainability, including the Embedding Wheel
Schedule & Learning Objectives
LOHAS: is this you?
Marketing & Sustainability: a Great Green Opportunity
8 Steps to Marketing for Sustainability
Next class: presentations!
Lifestyles of Health & Sustainability (LOHAS)
How Lohasian are you?
This does not render you a “tree-hugger”, it means that you are part of the growing market segment of individuals that value health/sustainability, which is a key component of happiness, as captured in the most recent World Happiness Report
Marketing & Sustainability: a Great Green Opportunity
Demand for more sustainable products and services is growing
$25.5 billion
$75 billion
$90 billion
$33 billion
$128 billion
$325 billion
1. Identify your Sustainability Opportunities
Consider why it is that your consumers want you to adopt sustainability and if it aligns with your broader corporate strategy
2. Build on Current Green Strengths
Some products or services already have green attributes that may be underappreciated or not recognized at all
Brita – a very successful water filtration company - re-branded it’s products once they realized that environmental issues shaped consumer preferences more than taste
3. Solidify your “defense” before going on the “offense”
Marketing sustainability may attract extra scrutiny by environmental groups, consumers, NGOs, etc.
Pay attention to eliminating gaps in environmental practices and performance
Read more about this amazing company, here!
4. Deepen understanding of Customers’ needs, attitudes and buying behaviours
LOHAS
Mean Greens
Drifters
Conventionals
Apathetics
Dream Greens
Naturalites
How green are people, really? Different consumer segments exist as related to sustainability.
5. Stay Ahead of the Pack
Anticipate what customers will think and stay ahead of your competitors
Tesla spends 5 – 10% of the value of their yearly revenue on R & D (US 1.5 billion in R & D in 2019)
6. Take it Public
Price: Environmental premiums may be charged for some products… but not most. Value and performance remain the most important components – “green” is a third button consideration
Relevance: Messaging must be aimed at tangible efforts and be relatable on a local level
Authenticity: Volkswagen's clean diesel…
Validation: to legitimize their claims, many organizations are using eco-labels – a stamp of approval from a third party source
Partnerships: Another way to legitimize claims may be to align with highly credible groups that are willing to publicly vouch for your efforts
7. Change Customer Attitudes and Behaviours
Engage, educate and empower consumers to make more informed decisions… to purchase your products/services
Interested in learning more… check out this link
8. Create Product Infrastructure
Employ systems thinking to ensure that products and services will flourish
