GSM Session 6 - Global Sustainability Marketing with Ergem Senyuva Tohumcu PDF

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Global Sustainability Marketing with Ergem Senyuva Tohumcu ...

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Consumer Segmentation ○ Geographic ○ Demographic ○ Behavioral ○ Psychographic LOHAS Consumer ○ A trend predictor ○ Personal health and planetary health ○ Values driven ○ Price insensitive ○ High influence on others ○ Highest green buyers ○ Information junkies ○ Eco-lifestyle ○ CSR seekers (and boycotters) Consumers: Naturalites ○ Driven by personal health and wellness ○ High purchase of eco-consumables ○ Healthy lifestyle ○ Want to do more for the environment ○ Credible CSR affects loyalty ○ Attractive target for many Drifters ○ Attitudinally predisposed to green (not deep rooted) ○ Driven by trends ○ Price sensitive ○ Like to be ‘seen’ at Whole Foods Conventionals ○ Rooted in practicality ○ ‘Municipal’ behaviors, including recycling and energy conservation ○ Driven more by cost savings rather than environment ○ Eco-benefits are secondary The Credibility of Sustainable Product Claims ○ One of the key determinants of success in sustainability marketing communications relates to credibility and trust ○ The ‘value action gap’ between consumers’ expressed concerns of environmental and social issues and their lack of purchasing is explained in terms of consumers providing unrealistically positive answers to market research for reasons of social acceptability ○ Credibility is decided by the audience, not the communicator. Consumers generally trust brands that they are familiar with, and will also tend to trust marketing messages that feature those brands ○ Greenwashing Role of Pricing

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The price is one of the key marketing mix variables By using a fair price there is generated an ethical behavior that implies not to speculate a power position ○ Price contribution to sustainable development also consists of covering some environmental protection taxes, offering deals for social responsible behaviors, collecting funds for ecological causes and reducing consumption of energy. ○ Price fairness perception has a direct influence on perceived value and on buying intentions for a product ○ A company that set fair prices is perceived as offering a good value for money, increasing the satisfaction of customers ○ In order to justify the price to be paid, it is essential to communicate the value offered by environment improvement ○ Also, a fair price boosts buying intentions and may increase customer’s loyalty, thus sustaining the business in the future ○ By offering fair prices, a commercial firm may contribute to a sustainable development, offering its customers a good value and being socially responsible The importance of pricing ○ The reflection of everything you do as a business ○ A vital determinant in the decision making process customers use to purchase a product or service...