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Copy of Green Consumption

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on 2 December 2013

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Transcript of Copy of Green Consumption

Green Consumption
What is a Green Consumer?
•Consumes products that are environmentally friendly
•Concerned with Environmental impact

Shades of Green
•Behavioral Greens: Actively participate in green acts
Dark Green: consume green products to a high degree
Light Green: buy a few green products
•Think Green: aware of environmental impacts, don't act green
–True Browns: not aware of impacts
Attitude towards green consumption not homogeneous
Relationship Between Green consumerism and age
•Today's generation grew up with information about global warming
•Relationship between age and Green consumerism is very important
•Many other factors: Recession, some countries have weak economies

Where are they?
-Finland and India have been making positive eco-friendly contributions for many years
-China is new to this trend
-Green consumerism can be a product of culture
-Various parts of the world have different attitudes
Timothy Le
Victoria Masley
Tom McMenamin
Geoffrey Scott

Hypothesis
•As age of consumer decresases, likelihood of green consumption increases.
•Younger generations are more aware of environmental issues.

What Do We Want to Know?
-Is there a relationship between age and consumption habits?
-Does age play a factor in green consumption?
-Does age determine attitude when it comes to consumption?
Factors When "Going Green"
-Recession
-Age
-Social Pressures
-Circumstances
-Product relevance
-Global warming
-Celebrity influences

-47% of young consumers are now willing to pay more for eco-friendly products
-6 out of 10 U.S. citizens say they are more likely to purchase green products this year than last (Ferraro, 2009).
Attitude
-A learned behavior
-Requires some sort of past experience
-Ones attitude towards the environmental decline dictates whether or not they are a
green consumer, potential green consumer
(borderline), or an unaware or
non-green consumer.
Current Green Consumption
Why do people purchase
"green"?
-Environmentally friendly
-Feel good about oneself
-Power to make a change
-Personality

Price
-Florescent blubs are more expensive to purchase initially
-Consumers end up with a
LOWER
electric bill while using them

R E S U L T S :
-Although consumers
WANT
to buy the eco-friendly product, when faced with a higher price for "green" products, almost every single person said they would not be willing to pay more.
Today's Green Consumer
Overall Findings
-Younger consumer are generally more
open minded
about trying green products

-The younger group of consumers does not participate in
darker green consumption
as much as older consumers because of income
-Green consumption is a trend that
slows during recessions
Going Green for Businesses
2012 Office Depot Tracking Poll:

-61% of small businesses were in the process of "going greener"
-70% anticipated "going green" in the next two years
-The fewer children under the age of eighteen a person has, the
more likely
they are to participate in green consumption
Why young consumers are sensitive
•Young consumers were heavily connected to internet
•Use of influencers
•Teens more influenced by celebrities than older generations.
•Became a cool trend.
•Youth grew up with environmental information impacting them
The Recession
•Made consumers hesitant to spend money freely
•Think Greens don't want to become Behavioral Greens
•Trend typically existed among middle and upper class
•71% of young consumers say price is a big factor.
•As recession lessened, disposable income rose.
•Young consumers became willing to pay a premium
Personality
Who is Going Green?
Bank of America:
From 2000-2005, BOA has reduced paper usage by 32%
-still had 24% growth in customers
-offers incentives such as $3,000 cash back if customers buy a hybrid vehicle
•Must be open minded
•Younger generations less attached to older lifestyles.
Dark Green
Tesla Motors:
Proving that cars can be economically friendly without sacrificing high speeds
-First 100% electric car that goes from 0-60 in just 3.9 seconds
•Older Consumers.
•Have full time jobs
•Financially stable
•Few to no children
•Highly educated
•Understanding of environmental impacts
Will Green Stay?
-As this trend grows, there are more and more easy, inexpensive ways for consumers to be
green.
-Growing awareness of global warming and pollution issues
-Recent survey stated that, "30% of say they
'expect to increase the amount of goods and services they buy from socially responsible companies.'"
YES.
We feel as though this trend is only in it's beginning stages and is here to stay!
Light Green
•Majority of green consumers
•Younger generation are mostly Light Greens
•Those in high school/college very involved
•First step for transforming Think Greens to Behavioral Greens
Full transcript