GREEN MARKETING: AN EVOLVING PHENOMENON

Abstract

The growing global consciousness and awareness about the environmental degradation has raised serious concerns about its safety. United Nations has tried to raise accountability and responsibility among the decision makers to avert major environmental disasters through its Global Environmental Outlook. Green marketing practices are adopted by the organizations to develop environment-friendly products. The entire process of manufacturing and producing the products are also designed to consume less energy or alternative sources of energy. The use of bio-degradable parts, packaging, green supply chain and generating less pollutants in manufacturing have positive effect on the environment. This study aims to provide information about the evolution of Green marketing. The gradual development has been ecological, environmental, and sustainable. The study also leads to understanding of challenges associated with it. The green marketing being a new concept requires awareness generation through various media, especially social media, and digital medium. The increase in cost due to the green technology and green marketing is difficult to communicate to the consumers. The lack of trust factor in believing the claims made under green practices is another difficulty. The green marketing, nevertheless, benefits all the stakeholders as per the study. The consumers get eco-friendly products which makes the consumers as well as companies to contribute positively to environment safety. The companies enhance their image through green marketing as consumers wants to be associated with environment friendly companies. The impact of global warming and climatic changes reduces agricultural productivity, negatively impacts ecosystem and human health. Green production practices help in reduction of poverty and hunger and improvement in economy by better agricultural produce. The examples of green practices adopted by several companies like McDonald, Walmart, Hewlett Packard, Honda, Ikea, State Bank of India, Maruti Suzuki etc. are testimonial to the fact that organizations have become responsible and realise the positive effects of green marketing. This has also been illustrated in the study of examples of green practices adopted by the companies. The study also highlights the prospects of green marketing. The future of green marketing is full of potentialities and innovative practices. The organizations will be focusing on the use of green technology and environment friendly technology to develop green products. The areas of research and development has widened the scope to innovate and produce environment friendly products and services in different sectors of the economy. The adoption of green marketing practices is the key to develop sustainable organizations.