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MKT 230: Sustainable Marketing Module 5

Terms in this set (38)

Product mix
all of the goods and services a company offers to its customers, along with the packaging that accompanies them
Product stewardship
understanding, controlling, and communicating a product's environmental, health, and safety related effects throughout its life cycle, from production (or extraction) to final disposal or reuse
Product strategy
a firm's decisions concerning the best combination of goods and services to deliver value to its target market
Service-dominant logic
focusing strategy on what needs people are trying to meet rather than on what products they will buy
Dematerialization
the process that allows fewer resources to be used to create the same or equivalent benefits
NSF System Conditions One
a sustainable product does not contribute to increasing concentrations of substances from the Earth's crust or of synthetic substances in the ecosphere
NSF System Conditions Two
a sustainable product causes no systematic increases in environmental concentrations of synthetic substances
NSF System Condition Three
a sustainable product does not contribute to the increasing degradation of the Earth's systems
NSF System Condition Four
a sustainable product does not undermine people's ability to meet their own needs
Consumer Products:
consumer products that are more environmentally and socially sustainable can expand existing markets and open up new ones
Eco-efficient Services
are those that are either closely related to products, or substitute for products, thereby reducing the use of material and energy.
Product Services
extend the life of a product through maintenance, upgrading, repair, guarantees, and product take-backs.
Use Services
allow the benefit of use without the need to buy the product
Intangible services
substitute systems, often technology based, for products
Result services
work toward satisfying customer needs while reducing the need for material products altogether
LEED (Leadership in Energy and Environmental Design)
rating program, which evaluates a building's environmental sustainability, has provided guidance leading to huge strides in energy and water conservation, the reduction of building waste, and the use of renewable and nontoxic materials
Sustainable Consumer Services:
the drive to sustainability has also led to innovation in the area of consumer services
Brand
identifying trademarks of a product or company and all the meanings invested in those trademarks by their stakeholders
Sustainable brand
the economically enduring trademarks and meanings of a product or company; its associations in the minds of customers and other stakeholders rightfully include social justice and ecological sustainability
Principles of Sustainable Branding
1. Align brand practice with the brand promise
2. Engage stakeholders in value creation
3. Deliver value at practical, social, environmental, and cultural levels
4. Share an authentic brand story
5. Empower customers and society to be better
Radical transparency
an organization's complete and public openness about its practices
Understand your brand
The WWF report suggests using a "brand perception audit" to understand and the meanings of the brand to all stakeholders, including customers and employees.
Understand your consumers
The report advocates the use of "anthropological" techniques to learn about present and potential customers' social and environmental values and practices and how those are manifested in their brand choices.
Get your own house in order
Clean up your business's internal operations. Get serious about reducing waste and energy use. Find ways to use materials more efficiently and sustainably. Stress your concern and expectations for sustainability with your suppliers.
Integrate CSR
The corporate social responsibility function should be embedded in everything the business does, and it should drive innovation in every aspect of the company. Core business functions should develop key performance indicators to track and reward sustainable practices.
Innovate
Identify new and better ways that your brand can help customers feel like they are contributing to a more sustainable society.
Motivate
Incorporate sustainability goals into the performance reviews of sales and marketing professionals. Reward people for behaviors that exemplify a company's triple-bottom-line values.
Collaborate
Create multi-functional teams or networks. People from different backgrounds and with different skills within your organization can drive creativity and innovation while making sure all stakeholder groups benefit from increased sustainability.
Communicate
Tell the story of your journey to sustainability openly and honestly. Invite outsiders to observe and report as well.
Enlist your customers in achieving your sustainability goals
Happy customers are a business's best marketers. Make sure that every interaction between customers and your brand helps to build customers' sense of belonging to something worthwhile.
Measure, monitor, and report
The move to sustainability is a journey that requires measurement, benchmarking, and continuous improvement in all the products and processes that contribute to brand value. Look for the same attention to improvement in supplier companies.
Internal branding
the development of a culture among employees that values and supports the brand story
Sustainable packaging
manufactured, transported, and recycled using renewable energy and clean production technologies and maximizes the use of renewable or recycled source materials, providing for optimal end-of-life disposition
Packaging and the Triple Bottom Line
Of all aspects of a product, packaging often has the most immediate financial payback for sustainability efforts. In addition to being more environmentally friendly and saving money, sustainable packaging should also be customer friendly.
Remove, Reduce, and Recycle
removing excess packaging, reduce the overall bulk of a product. Where packaging can't be avoided or reduced, to be sustainable it needs to be fully and easily recyclable.
Third-party certifications
seals that indicate a product meets certain standards for social or environmental performance
Co-branding
when two organizations combine their brands to benefit both brands
Sustainability labeling
communicating information such as carbon footprints and chemical contents, thereby enabling consumers to make more informed purchase decisions
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