Marketing Remanufactured Products in Asia: Circular economy and consumer perceptions

What is it about?

What feelings do 'recycled goods' or 'second hand goods' invoke in you? Do you find them 'dirty'? Why is remanufacturing necessary? Remanufacturing is a novel way of sustainable thinking without depleting additional economic resources. However, before businesses actively pursue this we must consider: Do remanufactured products really appeal to green consumers? How does the Asian mindset alter the view towards remanufactured products? This article discusses the different mindsets towards remanufactured products in Asia with evidence garnered from 1,168 observations in China, India, Indonesia, Malaysia, Myanmar, Singapore, Thailand, and Vietnam.

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Why is it important?

With the varying perspectives of what remanufactured goods are like, it is definitely important for companies to market their products correctly so as to alter negative perceptions. Green marketing is necessary and workable for remanufactured products, if marketers are able to identify and define the right selling point of “greenness” to align with Asian consumers' inherent values. Surprisingly, environmentally conscious consumers actually show a lower appreciation for such attributes in Asia, but both status- and value-conscious consumers are more willing to purchase remanufactured products when they have a better understanding of the green nature of these products.

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