As we described yesterday, sustainable marketing is emerging as a more important tool; and it’s evolving in nature. Today, we review the broadening concept of sustainability in marketing.
Part Two: Broadening Concept of Sustainability in Marketing
When you hear the term sustainability, what comes to mind? Do you think narrowly? Or broadly? According to Investopedia, here is a broad perspective:
“Sustainability focuses on meeting present needs without compromising future generations. It is composed of three pillars: economic, environmental, and social. Also known informally as profits, planet, and people.”
At this point, we turn to a more market-driven perspective. Jeremy Bartlow and Eleanor Jacobs of The Cambridge Group, report for Nielsen that:
“Ever asked yourself, ‘How much better is a paper sack versus a plastic one? Didn’t I hear that paper manufacturing is water and energy intensive?’ ‘Should I feel badly if I use a plastic straw?’ ‘Which would be better — the refillable glass milk jar or the white plastic gallon jug? Or what about the multi-layered milk carton coated in plastic and covered with ink?’”
“Across packaging (e.g., paper, plastic, glass, and metals), the environmental impact is hard for consumers to quantify and compare. If you consider the entire life cycle of the material, from production to recycling or landfill, you’ll probably cause a traffic jam in the checkout line.”
“Some firms take the world’s long-term sustainability to heart. And they build their brands around it. But not all firms incorporate consumer beliefs and expectations about sustainability into their business. Because recyclable packaging and labeling aren’t enough for consumers, they shouldn’t be enough for marketers, either. But, even if your firm isn’t ready to fully dive into sustainability, it’s important to take steps. Plenty of smaller commitments can show you care.”
Next, the chart highlights several broadened sustainability efforts.