Green Marketing: A visionary step towards sustainable development
Green marketing is indeed a visionary step towards sustainable development. Green marketing is just starting to emerge and is not the norm yet, companies are slowly catching on because of consumer demand. Soon, an environmentally friendly company might become more desirable than one that isn't. Green marketing is becoming more popular with increased consumer awareness about environmental issues such as global warming and climate change.
With the onset of the pandemic, severalcountries, including India realized the importance of the environment and itsimpact on sustainability. It took an epic episode of the covid-19 for humans torealize that they have exploited the earth a lot and it is time to reverse thecycle, push the pause button of fast, irresponsible life and think about the environment,and take responsibility to protect it.
It has been reflected in many studies that thepandemic has somewhere or the other started affecting the buying andconsumption behavior of the consumers, that is, it has shifted their minds intomaking the world a healthier place. This is where Green Marketing comes in.
Green marketing is a phenomenon that refers to the process whereby goods and services are sold asper their environmental benefits. The fact that they are environmentally safe drivesconsumers towards them. Additionally, it has been reported that companies thatprioritize the environment are more profitable and have a competitiveadvantage. In the initial stage, the cost will be high but in the long run, it willbe cost-effective and the companies will also contribute to CSR activities. The employees feel proud to be a part ofan organization that manufactures its products keeping in mind the environment.
Green marketing is becoming morepopular with increased consumer awareness about environmental issues such asglobal warming and climate change.
It even provides innumerableopportunities for the companies like cost reduction which will help inattracting more customers and increase profitability in turn ensuring a win-winfor both companies, consumers, and government.
It focuses on-
ØCreating aneco-friendly product
ØMaking the packagingeco-friendly
ØPromoting greenproducts and making people aware of them at the same time
ØA great part of thefocus is also on the promise made by India to cut its carbon emissions to netzero by the year 2070.
It is known that 63%of the consumers are engaged in green marketing and as per a survey they areknown to believe that these bio-based products not only make a product greenbut they also ensure its durability and quality o at the same time.
If we dive into thedata, Deloitte’s green marketing research has reported that 28% of customershad ceased purchasing some items owing to ethical or environmental concerns.Also ar,ound 200 major companies have set a target to become net zero carbon companiesby the year 2040.
Sustainabledevelopment can be defined as a development process whereby the needs ofthe current generation are met successfully without compromising on the needsand wants of the future generation. The aim is to restrictitself to the use of renewable resources. Sustainable developmentworks not just towards maintaining the ecological balance but also helps inpreventing overexploitation.
Green Marketingand Sustainable development go hand in hand. Green marketing is a visionary step towardssustainable development. This concept is a marketing practice that leads to theimprovement of all aspects of the organization in terms of sustainability andthe environment. It builds on good corporate values and promotes them in theright use by using appropriate tools, i.e., branding, PR, advertisingcampaigns, packaging design, etc
The government of India has started aprogram called the Ecomark scheme which is an eco-leco-labelingramwhereby the government is known to spread awareness and promote the purchase ofeco-friendly products. The government has also been taking initiatives inregards to improving environmental performance by reducing the use of coals andreplacing them with environment-friendly renewable resources.
A new ground has been broken withgreen marketing which wants companies to move from being green externally tointernally as well: implementing environmental policies like energy efficiencyor recycling as well as more eco-friendly manufacturing practices anddistribution networks.
In Conclusion, the environmentin today’s era is bringing innumerable problems for the government, society,and business at large. Each one of them is addressing the challenges posed tothem by the environment. The businessman dealt with this problem in variousways and at places, green marketing did come in handy for many firms.
It is evidentthat green marketing strategies specifically address the challengesfaced and come out with positive outcomes along with improved performance andphysical environment which leads to sustainable development.
Green marketingaims on undertaking all sorts of marketing activities while keeping in mind theenvironment. On the other hand, Sustainable development demands that futuregenerations should have the opportunity to inherit the natural resources in thesame state as it is now if not in a much better state. For this to happenproper protection and improvement need to be provided.
Therefore, we can say that Green Marketing is a visionary step towardsustainable development.