What is Sustainable Marketing? Principles of Implementing Sustainable Marketing

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In any industry, stability and sustainability are goals that businesses strive for, particularly in their marketing campaigns. So, what is the concept of sustainable marketing? What are the principles for implementing sustainable marketing?

I. What is Sustainable Marketing?

Sustainable marketing can be defined as a method of advertising products or services that focuses on sustainable development to create long-term value for customers. Through this marketing strategy, businesses can create products that enhance brand value while aligning with social and environmental responsibilities.

Sustainable marketing often involves campaigns that promote messages about protecting nature and the environment or marketing products/services that provide sustainable value to the community. While companies with environmentally friendly products effectively practice sustainable marketing, other businesses can also adopt its principles into their strategies. The primary goal of this marketing approach is to promote the mission that the product/service and the business convey.

Example:

A company that produces organic skincare products can engage in sustainable marketing by emphasizing its commitment to using natural ingredients that are not harmful to the environment. Campaigns can highlight the eco-friendly packaging and sourcing methods, appealing to eco-conscious consumers.

II. Importance of Sustainable Marketing Strategies

• Creating Value for the Community: Sustainable marketing contributes to creating value for society, helping businesses thrive in the market.

• Understanding Customer Needs: It aids companies in comprehending customer needs and desires, fostering and strengthening sustainable relationships between businesses and customers.

• Expanding Customer Base: Sustainable marketing opens up new opportunities to attract a large pool of potential customers.

• Building Reputation: It helps in establishing and maintaining a solid reputation and brand identity for the business.

III. Principles for Implementing Sustainable Marketing

1. Thoroughly Understand Customer Insight

Customer insight is an understanding of customers based on their behaviors, preferences, needs, and internal desires. Insight is a driving factor behind purchasing actions, making it a critical area of focus for businesses looking to develop sustainable marketing strategies.

By collecting and analyzing insights, businesses gain a comprehensive understanding of their customers. This understanding is crucial for effectively targeting marketing efforts and aligning them with customer interests. Consequently, this can positively influence purchasing behavior, enhancing the effectiveness of sustainable marketing while increasing revenue and achieving business objectives.

Example:

When a company surveys its customers about their preferences for sustainable products, it may discover a significant demand for locally sourced ingredients. This insight can lead to the development of new products that cater to this desire, ensuring the company remains relevant and profitable.

2. Set Reasonable Product Pricing

The primary products in sustainable marketing campaigns are often “green” items that are eco-friendly and handcrafted, which results in higher production costs. For instance, producing a rice straw can be more expensive than manufacturing a conventional plastic straw. Therefore, pricing for sustainable products must be optimized and set reasonably so that customers recognize the value they offer.

Products that are “green” typically carry higher prices but provide sustainable value. However, it can be challenging for customers to notice these products without an effective marketing strategy that highlights their unique attributes and the benefits they bring to customers and the community.

Example:

A company selling reusable bamboo cutlery might price their products higher than disposable plastic options but can emphasize the long-term savings and environmental benefits, making the higher cost more appealing.

3. Always Focus on the Customer

Another principle for implementing sustainable marketing is to maintain a strong focus on customers, demonstrating their importance in marketing campaigns. This involves providing a consistent experience tailored to customer needs. Products developed through sustainable marketing should aim to address specific issues that customers face.

A customer-centric approach is a breakthrough in creating strong relationships with customers. It fosters a deeper understanding of customer needs, leading to products that exceed expectations. When customers recognize the value offered by these products, they have more reasons to choose them.

Example:

A sustainable fashion brand may engage customers through social media polls, asking for feedback on new designs or sustainable practices they would like to see, ensuring that the products resonate with consumer desires.

4. Build a More Credible Brand

In addition to focusing on customers, businesses need to establish a more credible brand to excel in sustainable marketing. Building a brand in today’s fiercely competitive market is challenging; maintaining and enhancing its reputation is even more difficult.

A strong brand thrives on the “trustworthiness” established by the company. Customer loyalty hinges on whether businesses can uphold their promises regarding product quality and brand value. This loyalty develops through positive experiences that cultivate a long-term trust relationship between customers and the brand. Any lapses in service can erode this trust.

Example:

A company known for its ethical sourcing and fair labor practices can reinforce its brand credibility through transparency in its supply chain, thus strengthening customer loyalty.

5. Develop Long-Term Sustainable Practices

A critical aspect of sustainable marketing is the long-term development of products/services aimed at serving the community. Through long-term strategies in sustainable marketing, businesses can offer products with greater value and increase customer loyalty.

IV. Examples of Sustainable Marketing Approaches

Sustainable marketing necessitates that businesses develop practical ideas beyond traditional marketing methods. The core elements of this approach are transparency and practical commitments. Below are examples of sustainable marketing initiatives implemented by various businesses:

1. Packaging from Eco-Friendly Materials

Large supermarket chains like Big C, Co.op Mart, and VinMart+ actively use biodegradable packaging materials for their products. Many companies even use natural products (banana leaves, lotus leaves) for food wrapping.

2. Operating Recycled Material Production Lines

Businesses can consider investing in production lines for recycled materials such as plastic bottles, paper, and fabric to create valuable products. Marketing efforts can then communicate messages about cost savings and environmental impact reduction. Although the initial investment may be substantial, it represents a long-term investment in both sustainable marketing and the overall growth of the business.

3. Return and Exchange Policies

A notable example is Apple’s “Reverse Logistics” strategy, which involves accepting old products and components for reuse, thereby minimizing electronic waste that is difficult to decompose.

4. Production Using Clean Energy

Utilizing clean energy sources, such as electricity or solar power, in production helps protect the environment and reinforces the company’s commitment to sustainable marketing. A concrete example is VinFast, an electric vehicle manufacturer that attracts customer interest and support.

By embracing these principles and practices, businesses can effectively implement sustainable marketing strategies that not only benefit their bottom line but also contribute positively to society and the environment