The term Green Marketing is being used quite liberally in today's competitive world and is eyed as the future of marketing. Though the term Green Marketing is in vogue since the 80's it is still in a nascent stage and marketers are still to reach a critical mass and to remain forefront in the minds of the shoppers.
The new marketing approaches adopted by corporates speaks about Green, Environmental and Eco-marketing.
Let us understand What exactly is Green Marketing?
Green Marketing incorporates a broad range of activities, that includes Product modification, changes in the production process, packaging etc.
Green Marketing involves developing and promoting products and services that takes care of Quality, Performance, Affordable Pricing and Convenience without having a detrimental input on the environment.
Thus Green Marketing is the marketing of Products that is environmentally safe. Worldwide evidence indicates positive concerns shown by people about the environment but the grapevine is consumers are skeptical about the claims made by the companies however despite this people are changing their behaviour and Green Marketing has continued to gain adherents particularly int he light of adverse global changes.
The Green Marketing should constitute all the four P's of Marketing, today Green Marketing is increasingly is becoming inevitable for the companies.
Product – Made from recyled and used material, environmentally friendly and safe
Price – The Intially cost would be higher but helps in the long run.
Place – Logistic convenience will cut down on transportation emissions.
Promotion – environment friendly papers, usage of cloth / paper bags instead of plastics
As resources are limited, it is important for the marketers to utilise the resources efficiently without waste as well as to achieve the organisation's objective hence Green Marketing becomes inevitable. Also consumers are learning the importance of protecting the environment and are also trying to mould their behaviour.. As a result of which, Green Marketing has emerged as sustainable and socially responsible products and services.
Marketers should opt for Green Marketing as it not only provides them a competitive advantage but also helps them to sustain their profits in the long run apart from helping them find newer markets needless to mention it also serves as a cause to the society as Corporate Social Responsibility which many companies embracing it in India. Corporates are also embracing concepts like Car Pool, usage of natural lights or energy efficient products that help conserve lot of energy. Government is also trying to do their bit by converting public transport to CNG, giving preferences to solar powered products to encouraging companies who are in the business of battery operated vehicles.
The biggest challenge that Green Marketing faces are the requirement of renewable and recyclable material, requires a technology, that seeks huge investment in R & D, and the biggest challenfe is majority of the corporates, consumers are not aware of green products and their uses and hence are un-willing to pay a premium for green products.
Marketers would be wrong if they think customers are not concerned about environmental issues and hence will not pay a premium for products that are more eco-responsible. Green Marketing though still is in its infancy stage it needs to researched a lot to fully explore its potential.
To have a sustainable future corportates need to work on Green Marketing as businesses have a responsibility to satisfy human needs and desires while preserving the natural environment. Indeed, there are significant indications that environmental issues will grow in importance over the coming years and will require imaginative and innovative re-design and re-engineering of existing marketing efforts on the part of many businesses.