Sustainability Marketing

Rafat Abushaban

- Marketing #  O 2.2K views   اقرأ بالعربية

Summary:Sustainability Marketing is marketing that is conducted with a focus on social and environmental issues

The term "Sustainability Marketing" is used to describe a marketing strategy that differentiates itself from the stereotype of firms polluting the environment and creating misleading pitches to customers, but rather sends a message to customers that they are important and that the business is socially and environmentally responsible. It is also called "Green Marketing".

While the concept is still a developing research area, it includes topics such as:

Green Marketing
  1. Consumer-oriented Marketing:

    Once a business hits the market, it normally has two options: satisfy an existing demand, or create a new demand and satisfy it- this is known as the red and blue ocean strategy. Here, the determinant of the marketing strategy becomes the consumer-demand. In other words, this means focusing on what the customer demands (red ocean) or needs (blue ocean), not focusing on increasing profits for the business.
     
    To get this right, you need to understand the full value proposition and how it addresses the customer pains, gains, and jobs. Once you get the value proposition concept and the customer, you need to understand how the fit is made utilizing a unique competitive advantage.
     
    Example:Consider the smart-watch market. Sometime, a business thought that customers need a tool to help their read their notifications easier than picking their mobile phones out their pockets, and track their fitness easily. The first move towards this market was considered consumer-oriented marketing.

  2. Customer-value Marketing

    Focusing on the proposed value that the customer receives is essential in sustainability marketing. The main focus of your business should be on creating and providing value to the customers, not sales. As the value of what you offer and stand for increases, so will the sales.
     
    This is done because the market today is hyper-connected via internet and where customer power is rising to unprecedented heights. Customers have become more sensitive and susceptible to new offerings, and can easily compare alternatives and get the best deals. It is therefore essential to focus on creating value to customers and gaining their loyalty rather than sales. Loyalty makes customers want to buy because they simply like what you stand for, and for your business ideals, not necessarily because they need the products or services you are offering.
     
    Example:Consider a consultancy business that offers value and insight to its customers helping them develop plans and systems better. The value this business could create delivers customers to seek it, not the price.

  3. Innovative Marketing

    Innovative Marketing is conducting a series of activities and processes to communicate products and services to customers in an innovative setting. This is done by undertaking market evaluation and research and understanding the customer demographics and psychographics in the market, and developing a value proposition that is the right fit. Next, businesses undergoing this strategy need to launch their products and services in a unique place with a competitive price using unconventional strategies and targeting niches . Niches can help differentiate the product and gain more traction through market focus.
     
    Example:Consider a store that sells special clothes for customers who seek too large or too small sizes to find in the normal market. This business targets a specific niche and markets to this niche accordingly.

  4. Sense of Mission Marketing

    While uncommon as a market strategy, Sense of Mission Marketing is one of the more sustainable and viral strategies to obtain. In plain terms, Sense of Mission Marketing means promoting a vision and a mission to customers. This could be an environmental issue, a social matter, or something else. Businesses here distinguish themselves by focusing on a cause that they can rally customers around, and by effect they can gain customer loyalty and provide value back to customers.
     
    Example:Consider a company producing sweets and chocolate bars that are sourced using fair trade principles, and utilizing campaigns to protect the environment and cocoa trees. Buying from this company means standing for environment and the fair-trade principles.

  5. Societal Marketing

    Societal Marketing is a strategy that focuses on social responsibilities and takes into consideration the benefit of the society as a whole rather than focusing on customer needs or business growth. It can also be known as "Social Responsibility Marketing". According to Philip Kotler, the societal marketing concept means determining the needs, wants, and demands of target market, and to provide value more efficiently than competitors using means that contribute the society’s welfare and well-being.
     
    Example:Consider a food business that employees people in need to produce packaged meals and hand-made sweets that are then sent to distribution points and malls. Buying from this business means supporting people in need of the community.