GREEN MARKETING A “HOLISTIC” APPROACH TO SUSTAINABLE DEVELOPMENT THROUGH GREEN MARKETING MINNI ARORA (14MBA1404) MANPREET KAUR (14MBA1402)

GREEN MARKETING Green Marketing is also called as : Environmental marketing Sustainable marketing Ecological marketing.

INTRODUCTION Green marketing is the marketing of products and services based on environmental factors or awareness. Companies involved in green marketing make decisions relating to the entire process of the company's products, such as methods of processing, packaging and distribution.

DEFINITION OF GREEN MARKETING According to the American marketing association it has been interpreted or defined in three ways Retailing: the marketing of products that are presumed to be environmentally safe. Socially marketing: the development and marketing of products designed to minimize negative effects on the physical environment or to improve its quality. Environment: the effort by organization to produce, promote, package and reclaim products in a manner that is sensitive or responsive to ecological concerns.

DEFINITION OF GREEN MARKETING Pride and Ferrell (1993): green marketing, also alternatively known as environmental marketing and sustainable marketing, refers to an organisation’s efforts at designing, promoting, pricing and distributing products that will not harm the environment.

RESEARCH OBJECTIVE To Investigate impact of Green Marketing towards the customer and marketers in India. To find out the relation between consumer’s attitude and perception towards green marketing w.r.t price sensitivity and quality.

R ESEARCH METHODS Primary Method - Questionnaires - Sample Size : 150 Secondary Method - Internet

STRATEGIES OF GREEN MARKETING

WHY FIRMS ARE GOING GREEN ? Environmental concerns as a source of competitive advantage. Belief in the moral obligation to be socially responsible. Governmental bodies mandating firms to implement eco-friendly systems and processes. Pressure from competitors. Cost factors.

GREEN MARKETING MIX Product: The ecological objectives in planning products are to reduce resource consumption and pollution and to increase effective utilisation of scarce resources. Price: Prices for such products may be a little higher than other products because of higher quality of ingredients. Place: The choice of where and when to make a product available will have significant impact on the customers. Very few customers will go out of their way to buy green products. Promotion: A communication with the market should put stress on environmental aspects.

KNOW YOUR CUSTOMER EMPOWER CONSUMERS REASSURE THE BUYER CONSIDER YOUR PRICING

Consumer behaviour plays a major role in the choice of green products. The marketers of green products/services need to be more innovative and dynamic to compete with the changing purchase behaviour among customers. The study brought out the fact that the people are considerably well aware of green products, but not loyal entirely towards it due to a host of factors like expensive, not much difference when compared to traditional products in terms of performance and quality, commercials being perceived as gimmick only, etc