Open AccessA STUDY ON THE GROWING PROCLIVITY TOWARDS GREEN MARKETING: ITS OPPORTUNITIES AND IMPLICATIONS
Author(s) -
Salem Sreeveena
Publication year - 2021
Publication title -
paripex indian journal of research
Language(s) - English
DOI - 10.36106/7206103
Subject(s) - green marketing , business , marketing , government (linguistics) , consumption (sociology) , population , production (economics) , goods and services , marketing mix , economics , market economy , social science , linguistics , philosophy , demography , sociology , macroeconomics
With rapid increase in population,the planet is pressurized with heavy consumption of goods and services,which haslead to degradation of environment of the planet. Imbalance has caused due to heavy depletion of naturalresources which further paved path to problems such as Climate Change, Global Warming, Disasters like Tsunamiand Earthquakes etc,Thus there are many issues and problems which are posing problems to all the countries on theearth. This has created the stung reactions from active group of environmentalists. Government intervention hasbecome essential to fix things up.Thus pressure from public cry of active environmentalists, government policiesand other stake holders are putting pressure on companies to produce products, which are in tune with theenvironment.This led to a new jargon in the production and marketing arena, called as “Green marketing”. AmericanMarketing Association, defines Green marketing as “marketing of products that are presumed to be environmentallysafe. A holistic and responsible strategic management process that identifies, anticipates, satisfies and fulfilsstakeholder needs,for a reasonable reward,that does not adversely affect human or natural environmental well-being”.Green marketing incorporates a broad range of activities, including product modification, change to the productionprocess, as well as modifying advertising. Thus “Green marketing” refers to holistic marketing concept wherein theproduction, marketing consumption and disposal of products and services happen in a manner which are ultimatelyenvironmental friendly.Now,both buyers and sellers have developed the concern about the future of the world and asits effects on customers buying attitude for preferring environment friendly or eco-friendly products.By consideringthis change in preferences of customers the production companies have changed their production process and aretending to produce more eco-friendly products.This paper analyses,the growth trends,opportunities and challengesin the way of achieving green marketing attempts.