Developing a Sustainable Product Strategy
Desyra Sukma Dewanthi and Rosaline Tandiono
Introduction
You are a part of a global effort to increase access to education and empower students through “open pedagogy.” Open pedagogy is a “free access” educational practice that places you – the student – at the center of your own learning process in a more engaging, collaborative learning environment. The ultimate purpose of this effort is to achieve greater social justice in our community in which the work can be freely shared with the broader community. This is a renewable assignment that is designed to enable you to become an agent of change in your community through the framework of the United Nations Sustainable Development Goals (SDGs). For this work, you will integrate the disciplines of Marketing, Accounting to achieve SDG #12: Responsible Consumption and Production. Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
Learning Objectives
- Understand the Principles of SDG 12:
- Explain the key concepts and importance of Sustainable Development Goal 12 related to responsible consumption and production.
- Identify how businesses can contribute to achieving SDG 12.
- Integrate Marketing and Sustainability:
- Develop a marketing strategy that highlights the sustainable aspects of a product.
- Assess market demand for sustainable products and identify target audiences.
- Conduct Market and Competitor Analysis:
- Utilize market research tools to perform a comprehensive market analysis.
- Evaluate competitors’ sustainable products and their marketing strategies.
- Analyze Costs and Financial Viability:
- Prepare detailed cost analyses comparing sustainable and non-sustainable products.
- Develop financial projections, including sales forecasts, profit margins, and break-even analysis for a sustainable product.
- Develop Marketing Materials:
- Create effective marketing materials (posters, social media posts, advertisements) that communicate the sustainability of a product.
- Propose suitable marketing channels and campaigns for promoting sustainable products.
- Foster Critical Thinking and Problem-Solving:
- Apply critical thinking to identify and solve potential challenges in developing and marketing a sustainable product.
- Synthesize information from marketing, accounting, and sustainability to create a coherent and viable product strategy.
Purpose/Rationale
Enrich students’ knowledge and experience related with sustainability issues.
To develop a comprehensive strategy for a sustainable product that aligns with SDG 12, considering both marketing and accounting perspectives.
Instructions
- Choose a product or service that can be redesigned or newly created to promote sustainable consumption and production.
- Provide a brief overview of the chosen product.
- Conduct a market analysis to identify the target audience for the sustainable product.
- Use market research tools to assess consumer demand for sustainable products in the selected market segment.
- Evaluate competitors’ sustainable products and their marketing strategies.
- Develop a marketing strategy that emphasizes the sustainable features of the product.
- Propose marketing channels (social media, traditional media, events, etc.) and campaigns to promote the product.
- Create marketing materials (e.g., posters, social media posts, and advertisements) showcasing the product’s sustainable aspects.
- Prepare an accounting report detailing the costs involved in producing the sustainable product, including raw materials, production processes, and marketing expenses.
- Compare these costs with the costs of producing a non-sustainable version of the product.
- Identify potential cost savings and efficiencies gained through sustainable practices.
- Develop financial projections for the sustainable product, including sales forecasts, profit margins, and break-even analysis.
- Discuss the financial viability and potential return on investment (ROI) for the sustainable product.
Format Requirements
- Written report (10-15 pages) including all the sections outlined above.
- Marketing materials (digital or printed).
- Financial spreadsheets with cost analysis and financial projections.
- Presentation slides (10-15 slides).
Attribution
