Green marketing means to provide a product or services to the users environmentally friendly and safe. Thus green marketing classifying in different segments with like 1) to modifying product, 2) eco-friendly production process, 3) change packaging material ad 4) advertisement modification.
Nowadays, in last one decade most of the business firm has been promoting their products and services environment friendly and getting through licensing process is part of business to build a trust for users.
In simple term green marketing is a process of selling of goods and services on the basis of environmental benefits. This is also for a potential consumer and targeted audience or a user to defined their needs and wants to green product.
BENEFITS
- Improves credibility: First and very most important thing is to improve business credibility in market and represent unique product in to the field.
- An opportunity to enter in a new market: By adopting green marketing concept company can create a great opportunity to entering new market easily because it green marketing concept define a product and services of the company to represent totally different segment. Also a part from that in this days users are more aware about the green product and certain benefits of the green products.
- Long term Growth: Initially at this stage this method is expensive but it is worth for long term growth because most of the people are prefer eco-friendly products and the numbers are going to increase in future.
- Offers a competitive edge: it is easiest technique for every firm to adopt at the initial stage but it is most expensive. So it is depend on choice when to apply.
- More room for innovation: if you decided to adopt green marketing concept then you required to recreate your production process and drastic changes for raw material with eco-friendly raw material. So it requires more space for changes.
- High Profit: At present it is not show profit but the margin of the profit is very high in future.
- Good for the environment and government support: government is also support with their different scheme like subsidy policy for new firm.
Green marketing strategies.
- To initiate people to participate on it.
- Show your identity of products to people
- Recycling process
- Use renewable energy
- Green packaging
- Same belief with your partner company
Transparency with product user