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Marketing as a Tool to Promote Sustainability - Assignment Example

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The author concludes that marketing can be a very useful tool in promoting sustainable strategies, by saving on the depleting resources of the planet and moving the focus from unchecked consumerism to thoughtful product development and creating sustainable demand for such sustainable products…
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Marketing as a Tool to Promote Sustainability
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Download file to see previous pages Above all these factors, another trend is that of consumer knowledge increase with regards to the impact of products and processes on their health, the environment and the overall well being of the world as a whole. All these factors require businesses to obtain sustainable models by what is called “product dematerialization” by Hawken, Lovins, and Lovins (1999). This means that the focus will be on services than goods. Marketing has been the key to economic activity by stimulating demand. However, a marketing approach, aimed at serving the material wants of consumers through an ever-increasing volume of goods without any attempt to maximize life quality, draws heavily and too quickly on already overdrawn environmental resources and is likely to mortgage the future (Polonsky and Mintu-Wimsatt 1997). Hence, such marketing techniques are no more sustainable as they draw on exhausting resources.
Sustainable marketing strategy is evolved using the principle of 4 Rs which are – redirection (of customer needs and wants), reorientation (of marketing mix), reorganization (of firm’s processes and systems) and consumption (of used products for redevelopment into usable products (Polonsky and Mintu-Wimsatt 1997). These corporate strategies should be supported by government interventions in the form of programs and regulatory mechanisms that support the corporate initiatives. The following figure shows the various components of sustainable marketing strategies (Polonsky and Mintu-Wimsatt 1997).
Redirection – Marketing efforts should be aimed at redirecting the human needs and wants towards those consumptions that are environmentally friendly. This can be done by arriving at the right combination of the 3C’s of green marketing, which are as follows (Ottman, Stafford and Hartman 2006). ...Download file to see next pagesRead More
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