Targeting consumers who are willing to pay more for environmentally friendly products

TLDR

The marketplace is becoming increasingly ecologically conscious, reflecting growing environmental concerns. The study uses statistical analyses to examine the demographic, psychological, and behavioral profiles of consumers willing to pay a premium for eco‑friendly products. Premium‑paying eco‑consumers are mainly female, married, and parents, view ecological problems as severe, prioritize security and relationships, and routinely factor environmental concerns into their buying decisions, offering guidance for green marketers.

Abstract

Concerns related to the environment are evident in the increasingly ecologically conscious marketplace. Using various statistical analyses, investigats the demographic, psychological and behavioral profiles of consumers who are willing to pay more for environmentally friendly products. Finds that this segment of consumers were more likely to be females, married and with at least one child living at home. They reported that today’s ecological problems are severe, that corporations do not act responsibly toward the environment and that behaving in an ecologically favorable fashion is important and not inconvenient. They place a high importance on security and warm relationships with others, and they often consider ecological issues when making a purchase. Managerial implications for green marketers and suggestions for future research are discussed.