A STUDY ON THE GROWING PROCLIVITY TOWARDS GREEN MARKETING: ITS OPPORTUNITIES AND IMPLICATIONS

Abstract

With rapid increase in population,the planet is pressurized with heavy consumption of goods and services,which has lead to degradation of environment of the planet. Imbalance has caused due to heavy depletion of natural resources which further paved path to problems such as Climate Change, Global Warming, Disasters like Tsunami and Earthquakes etc,Thus there are many issues and problems which are posing problems to all the countries on the earth. This has created the stung reactions from active group of environmentalists. Government intervention has become essential to fix things up.Thus pressure from public cry of active environmentalists, government policies and other stake holders are putting pressure on companies to produce products, which are in tune with the environment.This led to a new jargon in the production and marketing arena, called as “Green marketing”. American Marketing Association, defines Green marketing as “marketing of products that are presumed to be environmentally safe. A holistic and responsible strategic management process that identifies, anticipates, satisfies and fulfils stakeholder needs,for a reasonable reward,that does not adversely affect human or natural environmental well-being”. Green marketing incorporates a broad range of activities, including product modification, change to the production process, as well as modifying advertising. Thus “Green marketing” refers to holistic marketing concept wherein the production, marketing consumption and disposal of products and services happen in a manner which are ultimately environmental friendly.Now,both buyers and sellers have developed the concern about the future of the world and as its effects on customers buying attitude for preferring environment friendly or eco-friendly products.By considering this change in preferences of customers the production companies have changed their production process and are tending to produce more eco-friendly products.This paper analyses,the growth trends,opportunities and challenges in the way of achieving green marketing attempts.