According to Nielsen research, the second set is nearly 55% of the consumers of the 60 countries that were a part of the research conducted by Nielsen. They are more concerned about the social and environmental impact that the product will have. They are basically the segment who needs to be targeted for the upliftment of the business along with keeping up with the sustainability models. They even check the seal to confirm whether the product is sustainable or not before the purchase is made. As such the products need to be marketed likewise.
There are certain positives of achieving sustainability in business:
- It helps in boosting up of the reputation of the business. Lately BMW i3 has been getting the dividends for being reputed likewise.
- As the percentage of the consumers looking for sustainable products are ever rising, it results in increase of sales.
- Certain companies like Apple Rubber have even managed to decrease their cost of production by going for sustainability initiatives.
Sustainability has been recently seen as one of the most essential marketing tool for apparel companies like Eco-Fashion Trends who has been planning to drive the market only by marketing sustainability over the next few years. Apart from that Kellogg, ConAgra, General Mills, etc. has been forced to re-plan their marketing strategies in order to merely survive in the market from the perspective of the food giants.
Only setting up of the sustainability goals and marketing likewise might not be sufficient though. It must be complemented by the proper implementation and the execution of the goals.
- The primary thing perhaps is a knowhow regarding whether the sustainability goals are compatible with the business goals or not. These should not become parallel lines. They should rather be interconnected and interdependent aspects.
- A specific knowhow regarding how often the goals needs to be reset are required. This would particularly depend on the market survey and the knowledge of what the rivals are up to.
- Regarding the implementation of the new goals we are generally confused about the pace and timing of the setting up and the resetting of the goals and knowledge about their limitations if any. These need to be looked after with immense importance.
Finally, we can conclude by saying that the myth named sustainability has grown up so fast that it can obviously be used as an essential tool of marketing as it has its own set of consumer and as such target segment which is so large that a company can do some serious business depending mainly on them only.