ECO Energy gets a boost from Ethics in Business
Wednesday, August 31st, 2011I read with interest a couple of articles this month in Marketing Week, entitled Studies Show it Pays to be Ethical and The Only Way is Ethics (nice pun).
Basically, recent studies carried out among consumers have established a link between business’s ethical credentials and the preferences of affluent, ethical consumers to buy their products. One study found that 91% of consumers take ethics into account when purchasing products.
A couple of other interesting pointers that grabbed my attention are that perception is just as important (or perhaps more so) than actual environmental performance. Top brands that scored higher on ethical perception than performance did rather better in consumers minds than other brands that are actually more ethical in their actions but not as vociferous.
Wealthy consumers of FMCG are happy to pay premium prices for goods and services they perceive to be ethical but I suspect it’s a little different in the business world. In business, cost is still king. Companies need to be seen to be ethical and environmentally sensitive but it cannot come at a cost. Products have to be ‘green’, ethical and cost less. The bottom line is as sacred as ever, especially in a struggling economy.
As a UPS manufacturer, we invest £thousands into researching how to make UPS more eco-friendly and in developing new products accordingly so that our customers genuinely use less energy and can be kinder to the environment at the same time. More details are available on our website.
Did you know the UK’s National Grid (and I should imagine most other energy utilities the world over) employs a team of people who do nothing other than demand forecasting?