What’s Next? Buying for a better world (#M4BW)
The following is a direct quote from the forthcoming 17th edition of Essentials of Marketing and highlights examples of marketing for a better world in B2B. The boxed element in the textbook provides other examples.
While B2B buyers care about doing what’s best for their company, many organizations want to do more. Creative buyers are finding ways to help their companies and make the world a better place.
For example, South African grocery chain Woolworths (no relationship to the U.S. drugstore chain) follows its “Global Business Journey.” This strategic initiative identifies key areas where Woolworths can make sub-Saharan Africa (where it operates) a better place. For example, to achieve objectives in three of those key areas—sustainable farming, ethical sourcing, and water—Woolworths began to work closely with the farmers who grow the fruits and vegetables on its store shelves. Many of these suppliers are small businesses with limited financial resources. They regularly contend with South African droughts, so Woolworths developed its “Farming for the Future” program to train farmers on water and fertilizer management. Those who attended reduced water usage by 16 percent and cut pesticide and herbicide use in half. To give its black- and women-owned suppliers a leg up, its “Supplier and Enterprise Development Program” offers them low-cost loans. Programs like these bring Woolworths a more stable supply chain, better-quality produce, and make a better South Africa.