Octopus Energy Group Limited

Octopus Energy Group Limited. HANSON HE Date 20 th O ctomber.

Overview of Octopus Energy Group. It is a private company established in 2015 as a Renewable energy supply in London, U.K. It dealt with gas, electricity, electric vehicles, heat pumps, and hydrogen. By 2020, the company recorded a revenue of about 1.24 billion pounds compared to 2017, which recorded 35 million pounds. It started operating in U.K., U.S., and Germany. the company used artwork impression to focus on increasing awareness to its customers based on the need to take actions towards climate change by embracing their products (Marketing Week., 2021). It is a British renewable energy group that provides sustainable green energy and up to September 2021 it has served over three million commercial and domestic customers. In 2020, Octopus purchased residential energy supply from ENGIE U.K. which had more than 70,000 U.K residential customers, and it also launch Octopus Center for Net Zero (OCNZ) a research organization responsible for recommending policies for sustainable green energy in future ( Littlechild , 2021)..

Summary of the case. The company so far has introduced the power of art in its branding to increase customers' awareness of climate change. However, following the awareness creation, the company launched a portraits campaign in 2019 to encourage consumers to shift to green energy. This was a way to keep the environment safe. Essentially the company is targeting to increase sales through indulging in environmental and social matters concerning climate change. Creative artwork use is a way to embrace consumer behavior change through providing them with an impression to reflect on the need for climate change. The company has been tactful approach in launching its brand because it coincided with the U.N. Climate Change Conference which advocates for the same change the company stood for, thus increasing their market share over their competitors (Market Week., 2021)..

Art work sending warning to consumers on the need for climate change..

Main interests of the company in this case. The interest of the company, in this case, is to increase awareness on climate change through encouraging behavioral change, thus encouraging consumers to adopt affordable green energy . Using a campaign named “Portraits from the Precipice”. Generally , the company had an aim of attracting more customers through its campaign aided by artwork exhibited at over 5000 sites, and it is categorized as a digital out-of-home (DOOH) art exhibition..

Marketing Campaign. Through marketing campaigns, most companies use it to stabilize their position in the market and advance customer acquisition by convincing consumers to purchase their products which they showed to have no harmful effects to their clients and are environmentally friendly (Kurtz et al., 2016). Moreover, there are mediums of marketing campaigns that suit every company, depending on their resource coverage. Some commonly used media are print media, online media, social media, direct mails, radios, television, telemarketing, and search engines..

Continuation….. Marketing campaigns take different perspectives in the business. It is crucial to review annual goals and adjust the plans to meet demands in developing an effective marketing campaign. Planning is the most critical step in developing a good campaign with creativity and more focus on measurement to enable success ( Ketter , 2018). All these lead to increased product positioning, thus increasing market share. Evaluation of ideas and options in developing a marketing campaign serves as a crucial aspect of the campaign's success. Moreover, considering targeted audiences for the specific campaign will also allow the business to yield some response from prospects, thus achieving goals..

Marketing Ethics and corporate social responsibility.

Marketing Ethics and Social R esponsibility. IBIUTY MORALITY TRUST BEHAVIOR BUSINESS ETHICS RELIABILITY RINCIPLE ceci4t ETHICS IN MARKETING.

Linking the case and marketing concept. Octopus Energy Group planned the launch of its marketing campaign during the same period that the UN had its Climate Change Conference. Therefore, this strategy attracted more attention to their product to increase awareness, thus more consumers. It embraced the use of many artists who created the impression various wild animals in their helpless conditions advocating for need for actions towards climate change, thus increasing the brand's reputation, eventually attracting more customers. Furthermore , the company embraced the collaboration of partners such as Artfinder and DOOH to support the development of the art impression for increasing awareness (Marketing Week., 2021)..

Continuation….. Moreover, the company based its campaigns on digital out-of-home (DOOH), shown at about 5000 sites. It acted as a medium to increase marketing awareness on climate issues (Marketing Week., 2021). On marketing ethics, the company provided an alternative brand that is environmentally friendly and aims to inspire every individual to take responsibility for climate change. However, the company has increased its social responsibility by offering a consumer-friendly brand with a fair and transparent price to ensure it gives back to society ( Mokha , 2018). The step has enabled consumers to recognize that the business has public concern at its heart despite the other motives of the company to make a profit. Generally, customers' interests were given priority in the marketing campaign..

Linking the case and marketing concept (Octopus renewable energy project).

Q1: Ethical implications for the company on social and environmental issues.

Continuation…. Considering environmental and social issues for business success depicts that it can take consumers' interests in the broader social problems not only concentrating on those that impact the business profit margins. There would be a vast attraction of customers with the same values, thus giving the business a sustainable sense of operating. Placing consumers' social and environmental interests at heart leads to improved public image, thus obtaining more favors from customers who would purchase from your company..

Q2: Why the profit-making company should consider social responsibility.

Continuation….. Sometimes there are arguments against profit-making companies involved in social and environmental issues. However, there are claims that money spent on the response to these issues is wasted, and they are like theft to the rightful property of the company owners. Moreover, over-concentration on social or environmental issues makes most businesses unprofitable in the market due to shifting their efforts to respond to those issues instead of developing their products (Baker, 2021). Generally, it's the government's responsibility to consider social and environmental issues, not businesses. Therefore, those companies engaging in such responses waste their time and resources, which should have helped them, promote and boost their operations..

References. Advantage, C. (2020). Corporate Social Responsibility. CSR and Socially Responsible Investing Strategies in Transitioning and Emerging Economies, 65. Alhouti , S., & D’Souza, G. (2018). Benefits of corporate social responsibility. Journal of Consumer Marketing. Baker, M. (2021). Arguments against corporate social responsibility - And some responses. Mallen Baker - Change is a learnable process. Retrieved 18 October 2021, from http://www.mallenbaker.net/article/clear-reflection/arguments-against-corporate-social-responsibility-and-some-responses . Castillo, G. A. L., Alava, L. A. C., Arauz , W. M. S., & Rodríguez, J. A. P. (2020). Proposal of a photovoltaic system for the house. International Journal of Physical Sciences and Engineering, 4(2), 26-35 ..

References. Ketter , E. (2018). It’s all about you: destination marketing campaigns in the experience economy era. Tourism Review. Kurtz, D., MacKenzie , H., & Snow, K. (2016). DVD to accompany Contemporary marketing, fourth Canadian edition [by] Boone, Kurtz, Mackenzie, Snow. Nelson Education. Marketing Week. (2021). How Octopus Energy used art to get people to switch to green energy. Retrieved 18 October 2021, from https://www.marketingweek.com/masters-awards-octopus-energy-art-switch / Mokha , A. K. (2018). Impact of Green Marketing Tools on Consumer Buying Behaviour . Asian Journal of Management, 9(1), 168-174 . Littlechild , S. (2021). Exploring customer satisfaction in Great Britain's retail energy sector part II: The increasing Use of Trustpilot online reviews. Utilities Policy, 73, 101297..