Hey guys!
When viewing all of the briefcase presentations and in doing research for my own presentation, I was able to reflect a lot on the dimensions of sustainability and marketing products to consumers in a way that shows benefits beyond sustainability itself.
This was the most notable aspect of the presentations for me. It is so important to create either a product or a service in the sustainable realm that offers something more. Professor Luchs pointed out today that only 5% of the population will pay a premium for environmental sustainability alone. This means that our product or service needs to offer something extra, whether this addresses the issue of social sustainability in the products ability to bring us closer together as people, or economic sustainability; finding a way that our product or service can offer lower prices for the innovation.
In seeing the presentations, I realized that our company was probably one of the more unique ones as we offered a service that was solely environmentally and economically sustainable, while the other groups, for the most part, focused on combination pieces of product and service. For example, in the presentation today, we learned about loop.com, a product based service that delivers your daily staples in reusable containers that are shipped to you and then collected. Another product service combination would be Imperfect Produce, where for a discounted price, you can receive various packages of different fruits and vegetables based on your preferences.
Based on these presentations, I know that for our Innovation project I want our company to reach into at least two of the sustainable dimensions. Either environmentally and economically sustainable or environmentally and socially sustainable. This would give our innovation for the company that extra punch in terms of being accessible and beneficial to more than the environmentally conscious.
Lets get multi-dimensional!
xoxo lana