Green Price and Product Strategy

Arne Nygaard

Chapter Chapter 3 in Green Marketing and Entrepreneurship, 2024, pp 35-62 from Springer

Abstract: Abstract The fusion of green marketing and entrepreneurship forms a foundational framework for achieving sustainability in business. This framework centers on the marketing mixMarketing mix, originally known as the 4 P’s (Price, Place, Promotion, Product), which has evolved to emphasize sustainability as the 3 P’s (Planet, People, Profit) in alignment with the United Nations’ 17 sustainability dimensions. Additionally, the service industry has adopted the 7 P’s, enriched by Kotler to include “people, processes, programs, and performance”. This chapter explores how these concepts have adapted to the shift towards sustainability by integrating entrepreneurial strategies into the marketing mixMarketing mix. The marketing strategy, built on the four core P elements, guides companies in aligning supply with market demand. Market segmentation analysisSegmentation analyses is crucial in crafting a strategy that caters to the growing demand for sustainable products. A green pricing strategy plays a central role in shaping the market for sustainable goods, with governments, municipalities, and businesses using pricing tactics to influence demand and secure positions in sustainability-focused segments. Lastly, the chapter thoroughly examines the green product strategyGreen Product Strategy, emphasizing its critical role in ensuring the authenticity of sustainable product quality. These concepts are vital in the continuous pursuit of sustainability.

Date: 2024
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DOI: 10.1007/978-3-031-50333-7_3

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