How to Profit From Being Environmentally Friendly

Bridget Behe (), Benjamin Campbell, Jennifer Dennis (), Charlie Hall () and Hayk Khachatryan
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Bridget Behe: Michigan State University
Jennifer Dennis: Purdue University
Charlie Hall: Texas A&M University

No 28, Outreach Reports from University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy

Abstract: Recently, marketing of products with environmentally friendly characteristics has become a promising strategy to attract a specific segment comprised of environmentally conscious consumers. However, the question is whether investments in environmentally friendly production practices are economically viable, which partially depends on consumers’ preferences and demand for certain pro-environmental attributes. Does it “pay” to be environmentally friendly? Are individuals concerned about the environment necessarily willing to pay a price premium for environmentally friendly plant production practices? The extent to which individuals are concerned about environmental problems may influence decisions for products that offer environmentally friendly characteristics. The key is to know who these people are, and how to market to them accordingly. If you find the right answer to these questions, you’re on the right track.

Pages: 4 pages
Date: 2014-04
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Related works:
Working Paper: How to Profit From Being Environmentally Friendly (2014)
Working Paper: How to Profit From Being Environmentally Friendly (2014)
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