GREEN MARKETING: NEW HOPES

Dr. T. Krishna Rao Principal, Sri Revana Siddeshwara Institute of Technology Bangalore, Email:principal@srsect.edu.in, Phone: 9743711190

Mr.Ananda Shankara. N Lecturer, Dept of MBA,SRSIT, Bangalore, Email:anandashankara@gmail.com, Mobile: 9900000130

GREEN MARKETING: NEW HOPES

* Mr. Ananda Shankara N & ** Dr . T. Krishna Rao

Abstract Green revolution, going green, environmental protection, sustainable life style, sustainable development, protecting our earth and many more have become a natural phenomenon in our everyday life. Green marketing is a tool used by many companies in various industries to follow similar trend. The development of green marketing has opened the door of opportunity for companies to co-brand their products into separate line, lauding the green-friendliness of some, while ignoring that of others. Such marketing techniques will be explained as a direct result of movement in the minds of the consumer market. As a result of this, businesses have increased their rate of targeting consumers who are concerned about the environment. This paper explores the opportunities businesses have with green marketing and also examines the present trends of green marketing in India, reason why companies are adopting it, future of green marketing and concludes that green marketing will continuously grow in demand.

Key Words: - organic marketing, green-friendliness, co-brand, green consumers, environmentally safe.

* Lecturer ,Department of M.B.A, Sri Revana Siddeshwara Institute of Technology Bangalore, Email:anandashankara@gmail.com, Phone: 9900000130 **Principal , Sri Revana Siddeshwara Institute of Technology Bangalore, Email:principal@srsect.edu.in, Phone: 9743711190

INTRODUCTION
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According to the American Marketing Association, green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a broad range of activities, including product modification, changes to the production process, packaging changes, as well as modifying advertising. "Green Marketing" refers to holistic marketing concept wherein the production, marketing, consumption and disposal of products and services is less detrimental to the environment with growing awareness about the implications of global warming, non-biodegradable solid waste, harmful impact of pollutants etc. The need for switch over to green products and services is becoming increasingly sensitive. While the shift to "green" may appear to be expensive in the short term, it will definitely prove to be advantageous in the coming future. REVIEW OF STUDIES Prothero, A. (1998) introduces several papers discussed in the July 1998 issue of 'Journal of Marketing Management' focusing on green marketing. This includes: a citation of the need to review existing literature on green marketing, an empirical study of United States and Australian marketing managers, a description of what a green alliance looks like in practice in Great Britain, ecotourism and definitions of green marketing. Prothero, A. & Fitchett, J.A. (2000) argue that greater ecological enlightenment can be secured through capitalism by using the characteristics of commodity culture to further progress environmental goals. Marketing not only has the potential to contribute to the establishment of more sustainable forms of society but, as a principal agent in the operation and proliferation of commodity discourse, also has a considerable responsibility to do so. Kilbourne, W.E. (1998) discusses the failure of green marketing to move beyond the limitations of the prevailing paradigm. The author identifies areas that must be examined for their effect in the marketing/environment relationship, namely economic, political and technological dimensions of the cultural frame of reference. Sanjay K. Jain & Gurmeet Kaur (2004) in their study indicates that environmentalism has fast emerged as a worldwide phenomenon. Business firms too have risen to the occasion and have started responding to environmental challenges by practicing green marketing strategies. Green consumerism has played a catalystic role in ushering corporate environmentalism and making business firms green marketing oriented. Based on the data collected through a field
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survey, the paper makes an assessment of the extent of environmental awareness, attitudes and behavior prevalent among consumers in India. THE BIRTH OF GREEN MARKETING The concept of green marketing has been around at least since the first Earth Day in 1970. But the idea did not catch on until the 1980s, when rising public interest in the environment led to a demand for more green products and services. Manufacturers responded to public interest by labeling hundreds of new products "environmentally friendly"making claims that products were biodegradable, compostable, energy efficient, or the like. The first wave of Green Marketing occurred in the 1980s. Corporate Social Responsibility (CSR) Reports started with the ice cream seller Ben & Jerry's where the financial report was supplemented by a greater view on the company's environmental impact.

IMPORTANCE OF GREEN MARKETING Human beings have limited resources on the earth, with which they must attempt to provide for the worlds' unlimited wants. There is extensive debate as to whether the earth is a resource at man's disposal. In market societies where there is "freedom of choice", it has generally been accepted that individuals and organizations have the right to attempt to have their wants satisfied. As firms face limited natural resources, they must develop alternative ways of satisfying these unlimited wants. Ultimately green marketing looks at how marketing activities utilize these limited resources, while satisfying consumers wants, both of individuals and industry, as well as achieving the objectives of organizations. Companies that develop new and improved products and services with environmental impacts in mind give themselves access to new markets, substantially increase profits and enjoy competitive advantages over those marketing nonenvironmentally responsible alternatives. Issues like Global warming and depletion of ozone umbrella are the main for the healthy survival. Every human being would be interested in quality life with full of health and so would be the corporate class. Financial gain and economic profit are the main aims of any corporate business. But harm to environment cost by sustain business across the globe is realized now
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though off late. Industries in Asian countries are catching the need of green marketing from the developed countries but still there is a wide gap between their understanding and implementation.

CHARACTERISTICS OF GREEN PRODUCTS

Products those are originally grown, Products those are recyclable, reusable and biodegradable, Products with natural ingredients, Products containing recycled contents, non-toxic chemicals, Products contents under approved chemicals, Products that do not harm or pollute the environment, Products that will not be tested on animals, Products that have eco-friendly packaging i.e., reusable, refillable containers etc.

PRESENT TRENDS IN GREEN MARKETING Firms have realized that consumers prefer products that do not harm the natural environment as also the human health. Firms marketing such green products are preferred over the others not doing so and thus develop a competitive advantage, simultaneously meeting their business objectives. Organizations believe they are more socially responsible. Governmental Bodies are forcing firms to become more responsible. In most cases the government forces the firm to adopt policy which protects the interests of the consumers. It does so in following ways:

Reduce production of harmful goods or by-products Modify consumer and industry's use and /or consumption of harmful goods; or Ensure that all types of consumers have the ability to evaluate the environmental composition of goods.

Competitors' Environmental Activities Pressurise Firms to change their Environmental Marketing Activities. In order to get even with competitors claim to being environmentally friendly, firms change over to green marketing.
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Cost factors associated with waste disposal or reductions in material usage forces Firms to modify their behavior. With cost cutting becoming part of the strategy of the firms, they adopt green marketing in relation to these activities by developing a technology for reducing waste and sell it to other firms. OPPORTUNITIES IN GREEN MARKETING Sometimes it is difficult to determine if brands are responding to consumer demand, or trying to create it. The market has been awash in various "environmentally-friendly" product choices across every category from cars to laundry detergents to wristwatches. A Study provides evidence that the majority of consumers thinks and care about the impact of issues such as health, poverty and education in their purchases and personal behavior. However the environment remains the No.1 social cause consumers care about. As a result green products and green marketing claims are on the rise. According to a survey, the number of products claiming to be green increased 73 percent since 2009, and more than 95 percent of consumer products marketed as "green," make misleading or inaccurate claims, otherwise known as "greenwashing." Consumers care about environment followed by, health, poverty and education. A strong commitment to environmental sustainability in product design and manufacture can yield significant opportunities in business, to innovate, and to build brand equity.

THE FUTURE OF GREEN MARKETING Effective green marketing requires applying good marketing principles to make green products desirable for consumers. Companies are feeling pressure from a whole range of stakeholders, including customers, employees and vendors. Then there are environmental pressures such as climate change and water shortages that are evolving no matter what the economic situation
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is. Combine all these forces, and there really is no choice anymore. But there are great proactive reasons to look at the business through a green lens. It saves money, reduces risk, drives innovation and new product development and builds brand value and loyalty. Finally, its a great way to survive this recession. Evidence indicates that successful green products have avoided green marketing myopia by following three important principles: CONSUMER VALUE POSITIONING

Design environmental products to perform as well as (or better than) alternatives. Promote and deliver the consumer desired value of environmental products and target relevant consumer market segments. Broaden mainstream appeal by bundling consumer desired value into environmental products.

CALIBRATION OF CONSUMER KNOWLEDGE

Educate consumers with marketing messages that connect environmental attributes with desired consumer value. Frame environmental product attributes as solutions for consumer needs. Create engaging and educational internet sites about environmental products desired consumer value.

CREDIBILITY OF PRODUCT CLAIM

Employ environmental product and consumer benefit claims that are specific and meaningful. Procure product endorsements or eco-certifications from trustworthy third parties and educate consumers about the meaning behind those endorsements and ecocertifications. Encourage consumer evangelism via consumers social and internet communication network with compelling, interesting and entertaining information about environmental products.

CONCLUSION This is the right time to select Green Marketing globally. To save world from pollution, all nations should make strict roles pertaining to green marketing. A clever marketer is one who
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not only convinces the consumer, but also involves the consumer in marketing his product. Green marketing should not be considered as just one more approach to marketing, but also an environmental and social dimension to it. With the threat of global warming, it is extremely important that green marketing becomes the norm rather than an exception. Recycling of paper, metals, plastics, etc., in a safe and environmentally harmless manner should become much more systematized and universal. It has to become the general norm to use energy-efficient lamps and other electrical goods. Marketers also have the responsibility to make the consumers understand the need for and benefits of green products and to maintain a cleaner and greener environment. Finally, consumers, industrial buyers and suppliers need to minimize the negative effects on the environment by adopting Green Marketing and be a part of making the earth greener.

REFERENCES

J.A Ottman,. et al, "Avoiding Green Marketing Myopia", Environment, Vol-48, June-2006 Mishra etal./Journal of Engineering, Science and Management Education/Vol. 3, 2010/9-14 http://influxinsights.com/2004/lifestyle/a-new-future-for-green-marketing/ http://www.greenbiz.com/blog/2010/12/09/opportunities-and-risks-new-green-marketinghttp://zenithresearch.org.in/images/stories/pdf/2012/April/ZIJMR/6_ZIJMR_APRIL12_VOL www.greenmarketing.net/stratergic.html www.google.com

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