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Socially responsible products often have hidden benefits. Professor Funda Sahin with the Bauer College of Business at the University of Houston says that can help consumers justify paying more to do good.
“Consumers prefer to buy socially responsible products, but hesitate at paying a premium price. However, they often overlook that associated product and process innovations can result in a superior performing product, in addition to societal benefits.”
“For example, electrical vehicles, originally developed for environmental protection, also provide performance improvements in acceleration, operational efficiency, maintenance and ride noise: a win-win for society and consumers.”