Marketing
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Marketing: Why Sustainability Is Now the Key Driver of Innovation
Article summary
The article presents thoughts and belief on Sustainability as a marketing strategy. Sustainability should be the driving force of innovation because becoming environment- friendly tends to lower an individual or company’s cost while increasing the revenues. It is, therefore, essential for companies to ensure that market sustainability remains one of their prime goals if they want to gain competitive advantages. In order to attain market sustainability, the article elaborates on five major processes with each stage having its own challenges and some of the methods of tackling the challenges.
The article states that there is no alternative to sustainable development. Modern companies now treat the need to become sustainable in the market as corporate social responsibility. Research has proven that sustainability is the possible mother lode of organizational and technological innovation that yields returns. Companies are looking for new ways of coping with environmental rules and policies, and this in turn allows for more innovations. The impact of this is a change in companies thinking on products, production processes and the applied technologies.
The stages involved in acquiring market sustainability require corporates to view compliance as an opportunity. Though laws at times may be complicated, corporates must ensure that are able to comply to attain market sustainability. The next step towards sustainability requires companies to make value chains sustainable. Companies develop sustainable operations through analyzing supply chains, operations and the workplace. Other stages include designing suitable products and services and developing new business models. The article present few simple rules that ought to be followed by