Tuesday, June 05, 2007

Global Warming - Warming up to a New Opportunity

Global warming is throwing up new opportunities. Governments, institutions and agencies worldwide are increasingly thinking of imposing restrictions on non eco-friendly products and services. And placing incentives on those who produce eco-friendly products.

Have the marketers and entrepreneurs risen to this occassion? One may feel that its too early to jump into this bandwagon and that only the rich companies may afford to take such a social view of their business. However, small things, have started giving a clue that eco-friendly products are the next wave across the world.

Suzlon and others have just shown us that Going Green is Good Business. In the coming days, there will be more products and services that will adopt green practices.

The last time I had been to a busy restaurant in the city, I realised the food products sold on bannana leaves are being charged more than the one served on a plastic or steel plate. The customers even recall this as an experience. This phenomenon is not restricted to the food industry alone. It is already being seen in other sectors.

The idea is simple. Customers have latent needs and marketers make it active with new products and services. Urbanisation, pollution, harmful plastic products and the rising health consciousness among the public made the food industry realise the need for having a natural meal on banana leaves. Nothing great about it, just that this latent NEED needs to be recognised.

What follows is a marketing process that gets in place after any innovation is generated. Going green is indeed a new innovation and the developments world over confirm that marketers have a huge wealth to unlock.