Wednesday, October 16, 2019
Using a company as an example, explain the advantages and risks of Essay
Using a company as an example, explain the advantages and risks of green branding a product or service - Essay Example Green branding sometimes act as the unique selling proposition for a particular company or product. Green brands are actually the ones which are amongst the most sold products in the world and enjoy a better brand position (Fahey, 2007). Automobiles are considered as one of the major source of environmental pollution in the world. Therefore it has been the need of the hour to deliver something new to the customers that will be attractive as well as eco-friendly. Toyota is one company which has tried its best to be on the greener side. For instance, the launch of the first generation of hybrid car named Toyota Prius back in 1998 was a great effort made by the company to reduce carbon emission and even Camry, Estima, Alphard etc is considered among the green sub brands of Toyota and are the models of hybrid synergy drive technologies. Though, Toyota in itself is not environment friendly and all their cars are not among the green band wagons as the likes of Avensis and Celica. But a conscious effort on the part of Toyota is made to change their image. The change has been highly appreciable among the people, which reflect in their sales records (Bruner, n.d.). Toyota started thinking of the environmental concerns way back in the year 1993 when it first drafted its action plan. In recent times, one of the major steps taken by Toyota towards the green branding of their company is by the formation of the Fourth Environmental Action Plan in the year of 2005. It was a vision of Toyota for the year 2006 to the year 2010 to develop a recycling based society. It was a long term oriented goal which emphasised more on the action plans which need to be undertaken for five years, so that it can bring about a considerable change in the year 2020 or at least by 2030. The company also aimed at becoming the global leader and the initiators of the total environmental change process.