Topic: doing the right thing
Read this and write a one page article on the topic
Yes, Established competitors can be beaten in their own game. It is said that business is a game and only the team with the best players gets the trophy. Winning requires a collaborative effort, choosing a competitive advantage, meeting customersâ€™ needs as well as exciting customers through activities such as innovations which usually triggers a spark among customers.
P&G has a good reputation. This is an element the company can capitalize on to invest in green shampoo products within the green market. Consumers look for socially responsible corporate values. For consumers, such companies are termed as credible. According to Oliver, (2104), customers derive satisfaction by associating with companies that are socially responsible.
The fact the increasing numbers of consumers are willing to pay more for an organic product is an important reason to invest in the green market. Most of them believe that these products are safe to use; this can be seen through the habits of purchasing. Opinion polls frequently indicate that consumers prefer green products over the less environmental friendly ones hence suggesting that greenness is an appropriate investment.
P&G should compete in the green shampoo arena because a substantial number of customers are quite receptive to green products. Research findings indicate that the overall global market is receptive to green products because of environmental concerns (Marketing Society, 2013).
A specific market segment especially the new generation is more concerned about sustainable products that make them live longer. As a result, they have resorted to prioritize purchases based on environmental factors. Since the company is committed to being socially responsible integrating environmental concerns into the products will give them an upper hand in the green market.
P&G should take advantage of the fact that consumers are willing to dig deeper into their pockets for organic foods whether it meets their expectations or not. The consumers believe that organic products are healthier and safer. The company has better strategies for handling the dilemma related to the green market. For instance, despite being criticized for selling products that are not organic in nature, its social possibilities have overtaken such criticism.
The company has constantly kept in mind the consumer needs. Therefore, they cannot suffer any financial losses by investing in green shampoo. The other reason the company should invest in green shampoo is that the number of consumers against green products is small compared to those who prefer green products. (Marketing Society, 2013).
P&G have adequate resources and understand what it takes to be green within the manufacturing industry. The internal commitment from the highest management levels is one factor that can give the company a competitive edge, meaning that the company can beat its competitors from an environmental perspective.
Consumers are willing to pay for energy sufficient products because they prefer to save money on energy over long periods. The best strategy P&G can use is shaded green which involves investing in lasting processes that are environmentally friendly. It requires both non-financial and financial commitments (Ginsberg, Meredith & Bloom, 2004). This is an opportunity to come up with innovative products focusing on consumer needs to have a competitive advantage. Shaded green strategy focuses on direct product benefits that will be offered to the consumer. It is a more practical strategy that can be a benefit for consumers who want to save on recurred expenses (Ginsberg, Meredith & Bloom, 2004).
Marketing Society (2013). Organic growth: Seven principles that determine winners and losers
Retrieved from: https://www.marketingsociety.com/the-library/organic-growth-seven-principles-99.
Ginsberg, J. M., & Bloom, P. N. (2004). Choosing the right green-marketing strategy. MIT Sloan Management Review, 46(1), 79.
Oliver, R. L. (2014). Satisfaction: A behavioral perspective on the consumer. Routledge.
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