Iqbal Tips.com will provide some useful tips which are related to forex trading,fx trader salary, best Amibroker afl collection, intraday trading rules in hindi, Intraday trading tools, Stock Market training and MBA Assignments .
Methods used by companies to promote the green aspects The companies have become very conscious of the environment. Due to this, a good number of companies had adopted green strategies when marketing their products. The primary aim of going “green” is to enhance the business marketing practice that are in line with consumer demands and improve conservation and preservation of the natural environment (Bansal & Rath, 2000, p. 724). For this reason, the companies are using “green” marketing to highlight their superior surrounding and to protect the features of their products and services thus enhancing a competitive advantage. According to Rahbar and Wahid (2011, p. 73), the green marketing had begun in the year 1980 and in 2000, it was well developed with more advanced technologies
The green products are defined as environment friendly products which are made of waste material ( Durif, Boivin & Julien, 2010, p. 27). Secondly, according to Davis, green product is referred to that products which are beneficial for nature and less harmful for environment (cited in Durif, Boivin & Julien, 2010, p. 28). Thirdly, Gurau and Ranchhod(2010, p 28) define the green product as manufactured by non toxic material, environmental friendly production and which is certified of reputed organization. In addition, The main purpose of the green product development is to save the environment by reducing pollution and waste. Moreover, green product provide high quality and good efficiency and offer extra benefit to the consumer such as being healthier and less cost.
There are three methods which companies use to promote the green aspects of their products; the first method is eco labeling on the green product, the second approach is used by business firm is life cycling, and the final process is environmental advertising via different types of ways such as written or commercial advertisement. In the last, this essay will provide some examples that how the many companies are successful to use these three methods for the promotion of the green aspects of their product.
Methods used by companies to promote the green aspects The first method used by companies is eco labels on their products for the promotion of green aspects. Rahbar and Wahid ( 2011, p. 74) explain that ecolabel is a symbol for customers which represent the value of the products. Chace and Smith state that seven out of ten buyer’s choice has been influenced by eco-labeling on the product (cited in Rahbar & Wahid, 2011, p.76). For example, recycling symbols are the most known eco label for some companies. Moreover, According to Souza, Taghian, Lamb and Peretiatkos (2006, pp. 148-149), environmental eco labeling is a very good way to provide the all types of knowledge through sign or message about the product to the consumer. In addition, Dekhili and Achabou (2014, p. ) argue that most of the companies used false information on eco label to manipulate the customer which is known as green washing. For example, the USDA organic symbol is used to label the ingredients in food to show the efficiency. Due to this, some companies have maintained their relations with organization that are approved or certified to carry out the required business operation Therefore, responsible eco label has positive impact on the preference of consumer choice to buy green product.
Secondly, most of the companies have adopted a lifecycle approach as a method of selecting green products and material to aid in their marketing. For example, companies that deal with the production of polythene bags have adopted recycling process and used FSC that are approved for paper bag printing . Gecevski, stojanova, and jovanovski (2013, p. 219 )state that Some companies used Product Lifecycle Management (PLM) tool to enhance the productivity and efficiency of the products. Product Lifecycle Management (PLM) is a system which control the entire lifecycle of a product from the initiate stage via engineering design and manufacture, to supply and disposal. Further they describe the three main aim of product lifecycle Management (PLM) system; these are the satisfaction of customers; provide the profit of company such as cost effective product, and environmental safety (2013, p. 220). In addition, Ginsberg, (2011, p. 81) explain that some companies such as Coca- cola and McDonald spend huge amount of money on recycling activities and packaging modification. By doing this, the companies are trying to be a corporate citizen. In brief, life cycle process is a very effective way to safe the natural resources of the environment.
Methods used by companies to promote the green aspects The third method is advertisement which is used by companies to promote the green aspect of their products. Most companies have adopted the use of online space or e- business such as mobile marketing, social media, search marketing, and display advertising on television to win the heart of their consumers for the promotion of the green aspects of their products. Davis (1993, p. 26) describes the main idea behind green advertising to ensure that a company benefits from reduced wastes when packaging the products, decreased the release of harmful emissions, and increased energy production and efficiency when the products are used. Moreover, Organisation for Economic Co-Operation and Development (2008, p. 37) explain that advertising is a good tool to convey the message among the customer about the green feature of their products. There are different types of companies such as automobile and petrol companies who promote the green characteristics of their products via commercial advertisement. Furthermore, the internet act as a word of mouth (WOM) for the companies to promote their green product on a large scale. Jacquelyn, Stafford, Hartman and Cathy (2006, p. 34) provide the example of Tide Coldwar detergent powder. Due to the social networking sites, a large number of American people has accepted the “Coldwater challenge” and within some months Tide.com has gain most popularity on the internet. Therefore, advertisements play a crucial role to convey the message of the green marketing among the customers.
The above three methods eco labeling on the green product, life cycling approach, and advertising of the green products are very successful because they are easy to adopt for the companies. Additionally, the methods take care of both the environment and the cost reduction when marketing the green product. Wu and Chen (2014, p.83) state that the demand of the green product is rapidly increasing by putting the great effort from business firms. According to the study of MacKenzie and The TNS Global Market shows that due to the awareness of green product, American and Taiwan people want to buy the green product with higher cost as compare to general product. Moreover, solar system and chlorofloro carbon free (CFC) refrigerator are the good examples of green product. Durif, Boivin and Julien (2010, p. 25) show the data that in the North America, the green store has increased almost 136 percentage in the years 2007 and 2008.
In conclusion, there are three main factors which have contributed to business firms to have environmental ethics in their business operations; the first method is to provide the all information on the product, the second medium is lifecycle approach, and the third procedure is more publicity of their product via different types of way. However, there are another various methods which are used by the companies to promote the green aspect of their products. However, the main reason for green aspects in products is to enhance the growth of the public awareness and concern environmental degradations that may results due to emission from companies and the consumption of the natural resources.
Iqbal Singh Gracha will provide some useful tips which are related to different topics such as Stock MarketCalls, Forex MarketCalls , Cryptocurrency MarketCalls, Commodity MarketCalls - Free Training Android, ”Science and technology “Earn money online” “Forex trading” “computer internet free course and useful educational articles in English ,Hindi, and Punjabi language.