Marketing strategies and channels for eco-friendly products

Abstract

Environment friendly consumer behaviour is essential for the long-term sustainability of the planet. Eco-friendly and natural products also improve the health quotient of lifestyle and reduce occurrences of diseases and ailments from artificial additives, etc. Recent increase in awareness on these aspects has led to companies considering entry into the eco-friendly space. There is a need in the contemporary times to identify the right marketing strategies and communication channels to bring about the change in consumer behaviour. If the eco-friendly variant is expensive in comparison to the other alternatives, how to position the product and how to communicate the increase in price, which may be a result of the change in production processes to eco-friendly methods. The objective of our research is to study the consumers’ perception towards eco-friendly products and acceptance of higher pricing, increase in usage based on celebrity/influencer reviews. We aim to conduct a consumer survey and understand basic concepts to keep in mind while designing marketing strategy for an eco-friendly product launch. For products that are bought at a fast rate (FMCG products, mostly), customers may have a higher tendency to purchase eco-friendly versions as the frequency of disposal is very high. The product we have chosen for the analysis on this topic is of razors. The general razors available in the market and eco-friendly variants are chosen and preferences of the survey recipients are taken on different parameters.