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INTRODUCTION

Green marketing is the process of developing products and

services and promoting them to satisfy the customers who prefer
products of good quality, performance and convenience at
affordable cost, which at the same time do not have a detrimental
impact on the environment. It includes a broad range of activities
like product modification, changing the production process,
modified advertising, change in packaging, etc., aimed at reducing
the detrimental impact of products and their consumption and
disposal on the environment. Green marketing refers to the process
of selling products and/or services based on their environmental
benefits. Such a product or service may be environmentally
friendly in it or produced and/or packaged in an environmentally
friendly way.

state bank of India (SBI) is a multinational banking and financial

services company based in India. It is a government-owned corporation
with its headquarters in Mumbai, Maharashtra. As of December 2013,
it had assets ofus$388 billion and 17,000 branches, including 190
foreign offices, making it the largest banking and financial services
company in India by assets. State bank of India is one of the big four
banks of India, along with ICICI bank, Punjab national bank and bank of
Baroda. The bank traces its ancestry to British India, through the
imperial bank of India, to the founding in 1806 of the bank of Calcutta,
making it the oldest commercial bank in the Indian subcontinent. Bank
of madras merged into the other two presidency banks—bank of
Calcutta and bank of Bombay—to form the imperial bank of India,
which in turn became the state bank of India. Government of India
nationalized the imperial bank of India in 1955, with reserve bank of
India taking a 60% stake, and renamed it the state bank of India. In
2008, the government took over the stake held by the reserve bank of
India.
Problems in Green marketing:
1) Need for Standardization
It is found that only 5% of the marketing messages from Green’
campaigns are entirely true and there is a lack of standardization to
authenticate these claims.
Unless some regulatory bodies are involved in providing the
certifications there will not be any verifiable means.
A standard quality control board needs to be in place for such labeling
and
licensing.
2) New Concept
indian literate and urban consumer is getting more aware about the
merits of Green products. But it is still a new concept for the masses.
The consumer needs to be educated and made aware of the
environmental threats, The new green movements need to reach the
masses and that will take a lot of time and effort.
3) Patience and Perseverance
The investors and corporate need to view the environment as a major
long-term investment opportunity, the marketers need to look at the
long-term benefits from this new green movement. It will require a lot of
patience and no immediate results.
4) Cost Factor-Green showcasing includes advertising of green
items/administrations, green innovation, green influence/vitality for
which a ton of cash must be spent on R&D programs for their
advancement and resulting special projects which at last may prompt
expanded expenses.
5) Convincing clients the clients may not put stock in the association's
system of Green promoting, the firm accordingly ought to guarantee that
they embrace every single conceivable measure to persuade the client
about their green item, the most ideal choice is by executing Eco-
marking plans. Once in a while the clients may likewise not will to pay
the additional cost for the items.
6) Sustainability- Initially the benefits are low since renewable and
recyclable items and green advances are more costly. Green showcasing
will be fruitful just in long run. Consequently the business needs to
anticipate long haul instead of transient methodology and plan for the
same, in the meantime it ought to abstain from falling into bait of
deceptive practices to make benefits in short term.
7) Non Cooperation-The organizations honing Green showcasing need
to endeavor hard in persuading the partners and numerous a times it
might neglect to persuade them about the long haul advantages of Green
advertising when contrasted with fleeting costs.
8) Avoiding Green Myopia-Green showcasing must fulfill two goals:
enhanced ecological quality and consumer loyalty. Misinterpreting either
or overemphasizing the previous to the detriment of the last can be
named green showcasing nearsightedness.
Green Spinning: Instead of environmentally improving the product,
some business firms try responding to environmental challenges and
pressures by presenting their own version of environmental “facts”
through their public relation efforts. Such practices and tactics add to the
already existing stock of confusion in the market and substantially lower
down the credibility of environmental claims made by other genuinely
green firms.
5.2 Green Selling: Companies continue to produce virtually the same
product, but they add some “new” environmental benefits in their
promotion campaigns to take advantage of increasing consumer interest
in the environment. When practiced in this form, green marketing efforts
on the part of the companies remain concerned only with promotional
activity, with little or no effort being made to develop products which
are truly green.
5.3 Green Harvesting: Greening sometimes leads to a decrease in
product cost. This tempts many companies to go green and harvest the
market. Products are produced at lower costs, but sold at a premium to
earn extra profits. However, these companies retreat and show reluctance
when a further move towards sustainability means increased product and
marketing costs for them.
Green Washing: A lot of companies see new environmental awareness as
an opportunity for short-term profits rather than as a market opportunity.
Little wonder they adopt or make false or misleading environmental
claims which create consumer distrust in green marketing efforts

SBI GREEN MARKETING EFFORTS:

Sbi banking on green energy with suzlon first Indian bank to take the
lead in harnessing
SBI banking on green energy was the first Indian bank to take the lead in
harnessing wind energy .The project was completed by suzlon in record
time – going from concept to commissioning in just four months;
covering equipment supply, construction, project commissioning, power
evacuation, and comprehensive operations and maintenance services.
As part of its green banking initiative, SBI has installed 10 windmills
with an aggregate capacity of 15 MW in the states of Tamil Nadu,
Maharashtra and Gujarat. This reduces dependence on polluting thermal
power to the extent of renewable power generated by the Bank's
windmills.
 Sbi launches green home project at lower rates State bank of India has
introduced a new
home loan product that will make other banks go green with envy. By
launching ‗green
homes‘, the country‘s largest bank wants to support rated
environment friendly
2) residential projects by offering concessions – reduced margin,
softer interest rate, and zero processing fee – on home loans to
discerning buyers. The concessions: the upfront margin that you will
have to stump up will be lower at 15 per cent of the loan amount instead
of the normal 20 per cent; interest rate on the loan will be 25 basis points
lower than the card rate; and no processing fee will be charged. Owners
of ‘green homes’ can hope to reap tangible benefits in the form of 20-30
per cent energy savings as the apartments are designed in such a manner
that they can enjoy ample natural light throughout the day. The
construction material used in such homes ensures adequate thermal
storage mass for retaining heat energy thereby keeping the interiors cool
despite the heat outside. further, water savings, anywhere between 30
and 50 per cent, can be made on account of rain-water harvesting and
recycling.

 Atms and debit cards Through rapid expansion of atms and debit
cards. State bank of India undertook a massive rollout of atms during
the financial year 2009-10. With more
3) The Bank had launched 'Green Channel Counter'(GCC) facility on
State Bank Day ( 01.07.2010), at 57 select branches of the Bank
spread across the country. This was an innovative step taken by the
Bank towards changing the traditional way of paper based banking in
a limited way, to card based ‘Green Banking’ focusing on reduction
in paper usage as well as saving transaction time. This is a pioneering
concept which would save both paper and time resources. SBI took a
massive roll out of ATMS during the financial year 2009-2010. With
more than 10,000 atms installed, sbi was conscious about the carbon
footprint due to such a huge rollout. In all of these atms, LCD
 monitors were deployed in lieu of crts. Leds were used instead of
tube lights or cfl (even in signages), 5 star eer 3.1 rated acs were
installed instead of conventional high energy consuming acs.
Aluminum composite panels were put to use instead of wood based
materials in the preparation of sites. Apart from these modifications,
specially designed atms were developed and installed that consumed
low energy and require no air conditioning environment. Even
solar powered atms were developed for rural areas. A few of the
modifications made to the atms include usage of single thermal
printers instead of two and the manner in which the cash tray was
placed.

CHALLENGES AHEAD
• Green products require renewable and recyclable material, which is
costly.
• Requires a technology, which requires huge investment in Research &
Development.
• Water treatment technology, which is too costly.
• Majority of the people are not aware of green products and their uses.
• Majority of the consumers are not willing to pay a premium for green
products.

CONCLUSION: Green marketing is a tool for protecting the

environment for the future
generation. It has a positive impact on environmental safety. Because of
the growing concern of
environmental protection, there is an emergence of a new market which
is the green market. For
companies to survive in this market, they need to go Green in all
aspect of their business.
Consumers want to identify themselves with companies that are green
Compliant and are willing
to pay a premium for a greener life style. As such, green marketing is not
just an Environmental
protection tool but also, a marketing strategy. People are beginning to realize their
role and responsibilities towards the environment. Although this change is not happing quickly, it is
happing. Businesses are looking towards gaining an edge in the green market industry by trying to re-
package their products into a more environmental friendly product.