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Despite the fact that many big ticket companies like GE, Apple, Nokia, et al are heavily investing to increase consumer awareness about their green products, as many as 48% of the respondents either could not recall any ‘green’ product or else could think of only a handful of them. Touche! Mr. Savvy Marketer
It’s only words, and words are all I have...
But good news is round the corner. Notwithstanding unawareness, 57% of the people surveyed said that the presence of a green product in that category might have a bearing on what finally goes into their shopping basket. Others stuck to traditional buying behaviour influencers like price, quality, brand name, et al. Here’s hoping that those noble words are put to practice!
How green is my shopping bag?
Well, there you go, one did not really have to wait long to assess actual consumer behaviour to green products. A whopping 68% respondents admitted that they had never actually bought a ‘green’ product, despite claims to the contrary. Sorry environmentalists, so much for eco-friendly consumer behaviour!
All for the love of Green? Naah!
In any case, of the 32% respondents who did claim to buy green products, a majority did not really do it for the love of Mother Nature, but for other reasons. A big reason perhaps would be personal gratification viz. CFL bulbs for lower electricity bills, CNG cars for lower fuel expenses, organic food for personal health, et al. In fact, only 20% of those who have ever bought an eco-friendly product gave its energy efficiency as a reason for purchase. An interesting insight for marketers: Consumers will buy your ‘green’ products, but not for philanthropy alone. Give them an additional USP!
Eco-altruism or the green dollar?
Of all the respondents surveyed, 43% felt that companies, which adopt eco-friendly initiatives did so because of consciousness for the environment. Well, that’s assuming businesses were really philanthropic entities, we guess! Almost another 40% however hit the nail on the head and said that businesses were going green for profit motive, either launching ‘green’ products and services seeing consumer demand; or become energy-efficient to reduce their costs. In reality, eco-makeovers for businesses are not always an act of altruism, instead there’s a heady mix of regulation concern, combined with anticipation of future demand from aware consumers!
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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