PLANET EARTH, BUSINESS, AND ENVIRONMENTAL MARKETINGMalini Pande
Environmental Marketing also known as Green Marketing or sustainable marketing can be defined as the effort by a company to design, promote, price and distribute products in a manner which promotes environmental protection. Green Marketing involves the five Rs: Recycling, Reusing, Reducing, Rejuvenating, and Rejecting. There is greater awareness of environmental protection for sustainable development. Organizations have discerned this change in consumer attitudes and are trying to use this to gain a competitive edge in the market by exploiting the potential in the green market industry. The simple principles of Green Marketing for business would be - understand your business, understand the motivation, be specific and simple, differentiate, communicate honestly, connect the message and the action, share the vision with your team, keep innovating, and keep the cost in mind. Through this research we wanted to understand consumer awareness on environmental issues and their purchase intentions regarding environmental friendly product despite a higher price. Our sampling technique was simple random sampling, sampling frame was all those above the age of 18, sample was from 10 major areas of Chennai, total sample size was 300 people, and our research instrument was a simple questionnaire. The findings of this research will provide an insight to companies that it is worthwhile to invest in environment friendly products. Our research helped us understand that there is a change in consumer mindset and behaviour. There is a strong case that can be made for selling products manufactured by using environment friendly inputs, environment friendly processes, packaging, and technology.
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