Sustainable marketing is the process of maintaining productivity by replacing resources with equal or greater resource value while avoiding degrading of systems supporting resources within functions of environmental, economic, social and political eco-environments.
Sustainable marketing has three foundational principles-
Waste reduction and social engagement- Elimination of waste from product packaging, such as using no wrappings or simple biodegradable wrappings for packaging to website linkage optimization.
Bartering versus purchasing- Bartering in place of buying are the utilization of social networking and the adoption of partnering to gather like-minded persons open to cross-promotion and information sharing.
Longevity- Planning longevity into marketing efforts that will protect the brand from long term fluctuations in advertising prices which will optimise long term returns.
Sustainable marketing leads to better customer relationships through greater efficiency of pricing of goods because of waste reduction, accessible social networks and cooperative partnerships with other businesses.
Examples of sustainable marketing-
MC Donald’s started giving out its product in a paper bag instead of plastic bags thus doing green marketing at a reduced cost.
Coca-Cola, in order to save water, does rain water harvesting thus saving water and giving back to the environment a small portion of the water that it consumes for production.
Volkswagen is focusing on providing an efficient and affordable car that is friendly to the environment having zero emissions and a fully electric vehicle.