Green Marketing- An Innovative Idea for Marketers
In the modern world of globalization, it has become a challenge to maintain the customers as well as consumers in fold and even maintain our natural environment safe and that is the major need of the hour. Consumers are also aware of the environmental issues and the impact of ecological pollution. Green marketing is a trend which has developed particular essential in the modern market as concept not only in India but also in the world. In this research paper, main focus has been made of concept, significance of green marketing. Data has to be collected from various sources like books, journals, and websites. It describes the main problems in implementation of green marketing practices. The paper presents the current Scenario of Indian market and identifies the challenges and opportunities businesses have with green marketing. What are the reasons of companies implementing it and future of green marketing and conclude that green marketing concept will constantly grow in both practice and demand.
KEYWORDS: Environmental pollution, Green Marketing, Globalization, Global Warming,
The holistic management process accountable for identifying, anticipating and satisfying the
Needs of customers and society, in a profitable and sustainable way (Peattie, 1995).
Green Marketing" refers to holistic marketing concept wherein the production, marketing consumption and discarding of products and services acquire in a way that is less unfavorable to the atmosphere with increasing awareness about the implications of global warming, harmful impact of pollutants etc. Both marketers and consumers are becoming more and more approachable to the need to move into green products and services. Even as the shift to "green" may become visible to be expensive in the short run, it will absolutely prove to be crucial and advantageous in the long run in term of cost.
WHY GREEN MARKETING?
As resources are scarce in nature and human wants are limitless, it is essential for the marketers to exploit the resources not only efficiently and effectively but also achieve the organization's goals. So green marketing is expected. There is growing interest among the consumers all over the globe regarding the protection of the environment. A worldwide fact indicates people are concerned about the environment and are shifting their behavior. As an effect of this, green marketing has emerged which tells for the rising market for sustainable and socially responsible products and servicesThus the increasing awareness among the consumers all over the world regarding protection of the environment in which they live. Various studies by environmentalists point out that people are worried about the environment. Now a day we see that the majority of the consumers are becoming more alarmed about environment-friendly products.
OBJECTIVE AND RESEARCH METHODOLOGY
One of the leading problems with the green marketing region is that there has been small attempt to rationally examine environmental or green marketing. This paper attempts to focus on the conceptual issues connected with green marketing. The present study is exploratory in nature it is also descriptive where the focus is on fact-finding investigation with sufficient interpretation. For this motive secondary data were collected through magazines, books, journals, conference proceedings, Government reports and websites etc.
MARKETING MIX OF GREEN MARKETING
Green marketers must deal with the ‘four Ps' in innovative ways.
Entrepreneurs who want to exploit rising green market either:
Recognize customers ‘environmental needs and develop products to deal with these Needs; or
Prepare products which are environmentally responsible to have less impact than Other Competitors.
Large varieties of products on the market that maintain sustainable development:
Products ready from recycled goods, such as Quik‘N Tuff housing materials prepared
From broccoli boxes which are recycled.
Recycled and reused Products.
Efficient products, which save capital and reduce environmental impact. Queensland‘s only waterless printer, Print point, reduces operating expenses by using less water than conventional printers and
Products with environmentally responsible packaging. McDonalds, for example,
replace their packaging from polystyrene clamshells to paper.
Organic products — many consumers are ready to pay a premium for organic Products, which provide promise of quality.
A service that rents or loans product – such as toy libraries.
Certified products, which meet or go beyond environmentally responsible criteria
Pricing is a decisive element of the marketing mix. Most customers are prepared to pay a
Premium if there is a perception of extra product value. This value may be enhanced performance Environmental paybacks are generally an added bonus but will normally be the deciding factor between products of equal value and quality. Environmentally responsible products, however, are frequently less expensive when product lifecycle costs are taken into concern. For example fuel-efficient vehicles, and non-hazardous products.
The selection of where and when to make a product available has a key impact on the customers being paying attention. Very few customers go out of their way to purchase green products. Marketers looking to successfully initiate new green products should, in most cases, position them largely in the market place so they are not just attractive to a small green niche market. The place must also be constant with the image which accompanies wants to project. The place must distinguish a company from its competitors.
Promoting products and services to end users includes paid advertising, public relations,
sales promotions, direct marketing and on-line promotions. Smart green marketers will be able to emphasize environmental credibility by using sustainable marketing and communications tools and practices. For example, many organizations in the area of finance are providing electronic statements by email, e-marketing is speedily replacing more traditional marketing methods.
CHALLENGES IN GREEN MARKETING
Currently there is no standardization process to certify a product as organic. So we are unable to authenticate the claims of organization's Green campaigns. A quality control board will be formed for labeling and licensing.
Now consumer is getting more aware about the advantages of Green products. But still now it is new idea for the masses. The consumer needs to be educated and made aware of the environmental threats. Indian consumers do value the importance of using natural and herbal beauty products. Indian consumer is exposed to healthy living lifestyles such as yoga and natural food consumption. In those aspects the consumer is already aware and will be tending to accept the green products.
Patience and Perseverance
The marketers require looking at the long-term advantages from this new green concept. It will need a lot of patience and no instant results.
Avoiding Green Myopia
The very first rule of green marketing is customer benefits i.e. the primary reason why consumers buy particular products. Motivate consumers to switch brands or even pay a premium for the greener option. It is not going to help out if a product which is developed is completely green in various aspects but does not provide the customer satisfaction. This will lead to green myopia. Also if the green products are very expensive then again it will lose its market acceptability
GOLDEN RULES OF GREEN MARKETING
Know your Customer: Make sure that the consumer is aware of and worried about the issues that your product attempts to deal with.
Educating your customers: it is not just a subject of letting people know you are doing whatever you are doing to protect the environment, but also a matter of letting them know why it matters.
Being Genuine & Transparent: means that a) you are really doing what you claim to be doing in your green marketing campaign and b) the rest of your company policies are consistent with whatever you are doing that's environmentally friendly.
Reassure the Buyer: Consumers must be made to consider that the product performs the work it's supposed to do-they won't forego product quality in the name of the environment.
Consider Your Pricing: If you are taking a premium for your product-and many environmentally preferable products cost more due to use of higher-quality raw material.
Lead Free Paints From Kansai Nerolac
Kansai Nerolac Paints Ltd., has always been dedicated to the welfare of society and the environment. Kansai Nerolac has worked on removing dangerous heavy metals from their paints. Lead in paints particularly poses dangers to human health where it can cause harmed to human life.
The world's fourth largest wind-turbine maker is among the greenest and best Indian companies in India. Tulsi Tanti, the creative thinker behind Suzlon, persuaded the world that wind is the energy of the future and built his factory in Pondicherry to run completely on wind power. Suzlon's corporate building is the mainly energy-efficient building ever built in India
Oil and Natural Gas Company (ONGC)
India's largest oil producer, ONGC, green Indian companies with energy-efficient, green crematoriums that will rapidly replace the traditional wooden pyre across the nation.
IndusInd opened the country's first solar-powered ATM and pioneered an eco-savvy change in the Indian banking sector
PRESENT TRENDS IN GREEN MARKETING IN INDIA
Governmental Bodies are forcing Firms to become more accountable. In most cases the government forces the firm to adopt policy which protects the interests of the consumers. Competitors' Environmental actions force the firms to change their Environmental Marketing behavior.
THE FUTURE OF GREEN MARKETING
There are numerous lessons to be learned to avoid green marketing myopia, the short version of all this is that effective green marketing requires applying good marketing principles to make green products attractive for consumers. Facts indicate that successful green products have avoided green marketing myopia.
BENEFITS OF GREEN MARKETING
• It ensures growth in long run with profitability.
• In long run it saves money but initially the cost is more.
• It helps companies to market their products and services while keeping the environmental aspects in mind.
• It helps in accessing the new markets and enjoying competitive benefit.
Majority of the employees also feel proud and responsible to be functioning for an environmentally responsible company.
PROBLEMS RELATED WITH GREEN MARKETING
One of the key problems is that firms using green marketing must ensure that their actions are not misleading to consumers or industry, and do not breach any of the regulations or laws dealing with environmental marketing.
Don't Follow Consumer's Perception Blindly:
Other problem Firms face is that those who modify their products due to increased consumer concern must contend with the fact that consumers' perceptions are sometimes not correct. Take for example the McDonald's case where it has replaced its clamshells with plastic coated paper.
Back Up Your Marketing with Good Technical Assistance
When firms attempt to become socially responsible, they may face the risk that the environmentally responsible action of today will be found to be harmful in the future.
Lack of Policies
While governmental regulation is intended to give consumers the opportunity to make better decisions or to motivate them to be more environmentally responsible, there is complexity in establishing policies that will address all environmental issues.
Don't Follow the Competition Blindly
Reacting to competitive pressures can cause all "followers" to make the same mistake as the "leader.
Try To Minimize the Waste, Rather Than Find Appropriate Uses For It
Most waste produced will enter the waste stream, therefore to be environmentally responsible organizations should attempt to minimize their waste, rather than find "appropriate" uses for it.
Now this is the right time to choose “Green Marketing” worldwide. It will come with strong change in the world of business if all nations will make firm rules because green marketing is necessary to save the earth from pollution. From the business point of outlook a smart marketer is one who not only convinces the consumer, but also involves the consumer in marketing his product. With the danger of global warming alarming , it is very important that green marketing becomes the rule. Finally, consumers, industrial buyers and suppliers need to pressurize effects on minimizing the negative effects on the environment. Green marketing assumes even more significance and relevance in developing countries like India.
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