Green Marketing:Way to Go
Today, we face unprecedented environmental challenges such as climate change, biodiversity loss, pollution and resource scarcity. Time has come to introduce a new type of development, a different focus for economic growth while promoting the efficient use of ecological resources. Many companies are adopting green marketing as a tool to follow the trend of going green. Earlier, industries were attempting to work towards green marketing or for making business environment green in order to be compliant to the Government policy initiatives. Now, companies are taking their own initiatives to create eco friendly products to protect the environment. While steps by companies are appreciated , this alone may not motivate consumers to choose a green brand. There is a need for developing green marketing strategy to influence the final consumer to buy green products.
This paper explains the meaning of green marketing and explores its challenges and opportunities. It also discusses the recent trend of 'sharing' towards going green. This paper also identifies some of the questions that should be answered before a company promotes itself as green. The paper also studies strategies for successful green marketing. At the end, some of the Indian cases are discussed.
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