Environmentalism has recently become a popular marketing strategy. More than a half of customers all over the world want to buy from socially and environmentally responsible businesses, which boosted green marketing. It refers to the process of selling goods that are eco-friendly, degradable, or produced in an eco-friendly manner. Green products do not contain toxic or damaging substances, are made of renewable materials, and have a minimum packaging that is either recyclable or biodegradable.
More organizations try to implement green marketing as it makes products more attractive to customers. It fosters customers’ loyalty and creates a huge network for partnership and advertising. After all, it is a pleasure to be ethical towards employees and customers, especially when it is quite rewarding. Statistically, more than a half of consumers all over the world are ready to pay more for sustainable products than for conventional goods.
Though all around positive, green marketing can backfire. Today consumers are more attentive and conscious than anytime before, and green companies that turn out not so green are seriously damaged by a negative word-of-mouth. With eco-trends being on the top, many companies are engaged in greenwashing – pretending to be eco-safe when they are actually not.
Green marketing has leaked into all branches of production and trade. The organic food industry is on the rise competing with GM and processed food. Restaurants get through with food from local farmers claiming their sustainability. Cosmetics brands often mention organic ingredients in their products but their sustainability is often questioned. Electric and hybrid vehicles make another vivid example of how sustainability works in the market.