In today’s world, consumers are being bombarded with a multitude of products and services with the entailing cacophony of messages that vie for attention. The result is an increasing confusion and indifference on the part of the buying public…
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In today’s world, consumers are being bombarded with a multitude of products and services with the entailing cacophony of messages that vie for attention. The result is an increasing confusion and indifference on the part of the buying publicEvaluate the extent to which a sustainable and green approach to marketing can add positively to the bottom line in an age of consumer confusion and possible indifference. In today’s world, consumers are being bombarded with a multitude of products and services with the entailing cacophony of messages that vie for attention. The result is an increasing confusion and indifference on the part of the buying public. This can breed consumer discontent that, in itself, is becoming increasingly difficult to address. According to Kaptan (2003), if this confusion, indifference and discontent are not dealt with successfully, any relief created will be transitory and that later on new symptomatic issues and complaints would arise. (p. 45) There is, hence, a need to introduce products and services and build brands that aim to rise above the rest. This objective is best served by adopting sustainable and green approach to marketing. The Concepts Essentially, green marketing is the holistic marketing concept wherein production, marketing consumption and disposal of products and services happen in a manner that is less detrimental to the environment, especially with growing awareness and consideration to prominent environmental issues like global warming, non-biodegradable solid waste, harmful impact of pollutants, and so forth. (Chandrasekar 2009, p458) Sustainability follows and reinforces the same principle, and is characterized by activities that seek to change existing framework in favour of sustainability. (Saren et al., p205) Pursing this strategy is significant to consumers for several reasons. The most important of these include: its contribution to the consumer’s “empowerment” since it allows the consumer to make a difference by using “green” products and services; and, it provides credibility since sustainability related claims can make consumers believe and trust in the product. (Ottman 2011, p110) The gist of the benefits of sustainable and green marketing is that their associations with the positive impact to environment provides a product or brand a mantle of uniqueness and responsibility that adds value in the eyes of the buyers. Successful sustainable and green campaigns include the Levi’s recently launched Eco line of 100 percent organic cotton jeans; Wal-Mart’s “Green” push consisted of diverse initiatives such as reducing energy waste, opening green supercenters, stocking more organic products, and working with suppliers to get them on board as well. (Hawkins & Mathersbaugh 2010, p102) Ottman emphasized that sustainable and “green” products offer tangible and direct benefits that are actually meaningful and important to a number of consumers. (p110) Making a Difference The principles at work here is that green products can rise above the din of commerce that are peppered with superficial solutions to individual needs. Slater pointed to the social dilemma that emerges as a consequence. In his view, the production of more goods and services that provide false satisfactions to human needs in greedy pursuit for profit contribute to the increasing disorganization, disorientation and confusion not just with regards to their needs but also their identities. (p126) In the past, marketing and advertising could have gotten away with it with what Slater called as: an innumerable series of images are forced upon the individual, like mirrors, seemingly empathetic and totally credible, which bring their secrets to the surface and display them there. In these images, people are continually shown the unfulfilled aspects of their existence. The illusion ingratiates itself, promising satisfaction; it reads desires in one’s eyes, and brings them to the surface of commodity. (p126) The problem now is that consumers have been satiated with these messages and strategies. This and the crass materialism had not satisfied many people’s innermost desires. (Sattar 1992, p. 41) One may say that, today, the average buyer is both aware and confused about the way products are pandered to him. Slater
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Purpose The overall purpose of this paper is to inform the Board about adding customer value to our bank in order to achieve the competitive advantage. Through this Board Paper, worthy members of Commonwealth Bank’s Board will contemplate upon the creation of competitive advantage for the bank by adding customer value.
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ADDING CUSTOMER VALUE FOR COMPETITIVE ADVANTAGE Introduction Every company, no matter how competitive, minor or large, mainly relies on its reputation for success, existence and customer value. Clients, workforce, suppliers, investors, communication networks and regulators may have a fundamental effect; they all have crucial views concerning the companies they interact with every day.
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