Adoption Of Green Marketing Strategy: A Conceptual View Based On Stakeholder Theory

Abstract

The fast acceleration for environmental decompositions triggers stakeholder’s growing green compassion. It has created extreme pressures for today’s firms to incorporate the leading method “green marketing strategy” as the conventional business tactics have become unproductive to attain the expected performance levels. This study reviewed the existing literature to develop a conceptual framework for the association between green marketing strategy and sustainability performance. The green marketing strategy was identified as a profitable and practical business opportunity for a firm to achieve sustainability performance with regard to environmental, social and economic aspects. With the application of stakeholder theory, the authors have developed propositions representing a conceptual approach by incorporating a green marketing strategy as a path to sustainability performance by managing the stakeholders’ pressures. Scholars will benefit from the concept put forth in this study as it suggests specific avenues to pursue empirically in order to comprehend the substantial effect of green marketing strategy in attaining the sustainability performance. Pragmatically, the incorporation of green marketing strategy can provide a new direction to the managers to deal with the environmental insecurities and secure their firm’s sustainability performance by managing the stakeholders’ expectations.