Environmental And Social Responsibility In Consumer Product Strategies

Consumers are increasingly aware of issues surrounding environmental and social responsibility (E&SR) and are making purchase decisions that take these into account. For this and other business reasons, consumer product strategists are leading the charge to bring E&SR products to market. Their E&SR product strategy focuses on key stages of the product life cycle that provide operational benefits like cost reduction and risk management but, more importantly, influence the consumer experience with their product — and thus drive incremental revenues and market share. Consumer product strategists should take a close look at how much their consumers care about the environment and community — and how much they're willing to pay to back these concerns — to determine how central E&SR should be to their product's strategy.