How to market sustainable products: Three paths to success
By: alsace, Frédéric and Challagalla, Goutam
.
Material type: 
BookPublisher: Harvard Business Review Description: 102(2), Mar-Apr, 2024: p.80-87.
In:
Harvard Business ReviewSummary: Many companies overestimate customers’ appetite for sustainable products, flooding the market with offerings that don’t sell. The reality is, social and environmental benefits have less impact on purchasing decisions than basic product attributes do. Consumers buy products to get specific jobs done, and only after they find something that will do that will they look for a product that provides some social or environmental advantage. Of course, that’s only if they value sustainability. Not everyone does, and marketers need to recognize that. Some customers (greens) place a premium on it, some (blues) value it only moderately, and some (grays) don’t care about it and view it skeptically. The three segments cannot all be approached in the same way. How sustainable product benefits interact with traditional benefits is also critical: They can have no impact on a product’s performance (independence), diminish it (dissonance), or enhance it (resonance). Marketers need to follow different playbooks for independent, dissonant, and resonant products, tailoring their approaches to green, blue, and gray customers with each. – Reproduced
https://hbr.org/2024/03/how-to-market-sustainable-products
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
Articles
|
Indian Institute of Public Administration | 102(2), Mar-Apr, 2024: p.80-87 | Available | AR131453 |
Many companies overestimate customers’ appetite for sustainable products, flooding the market with offerings that don’t sell. The reality is, social and environmental benefits have less impact on purchasing decisions than basic product attributes do. Consumers buy products to get specific jobs done, and only after they find something that will do that will they look for a product that provides some social or environmental advantage. Of course, that’s only if they value sustainability. Not everyone does, and marketers need to recognize that. Some customers (greens) place a premium on it, some (blues) value it only moderately, and some (grays) don’t care about it and view it skeptically. The three segments cannot all be approached in the same way. How sustainable product benefits interact with traditional benefits is also critical: They can have no impact on a product’s performance (independence), diminish it (dissonance), or enhance it (resonance). Marketers need to follow different playbooks for independent, dissonant, and resonant products, tailoring their approaches to green, blue, and gray customers with each. – Reproduced
https://hbr.org/2024/03/how-to-market-sustainable-products
There are no comments for this item.