Green Marketing and Sustainability: Opportunities and Challenges

Abstract

Abstract: Green Business, Sustainable lifestyle, environmental protection are the buzz words that we hear nowadays. Sustainable development is a development that aims at sustainable consumption of resources and sustainable economic growth while protecting the natural environment. The term sustainable development basically comprises of three main constituents which are: environmental sustainability, economic sustainability, and socio-political sustainability. Owing to the fact that people are getting more and more inclined towards preserving the environment, businesses are busy devising strategies that can satisfy the needs of the society as well as be profitable. Green Marketing is one such strategy that has emerged as a key concept in India and other developing and developed countries as the main element for facilitating sustainable development. This research paper, aims at emphasizing the concept, need and importance of green marketing. Data is collected from multiple sources such as books, journals, websites, and news papers. The paper describes the present scenario of Indian market and search for various opportunities and issues businesses face while incorporating green marketing. The paper also explains the reasons why businesses are adopting it on a high scale and its future in the emerging markets. The paper concludes with the insight that green marketing will grow on a continuous basis both in practice as well as demand. Keywords: Sustainable Development, Green Marketing, Sustainability, Economic Sustainability, Green Business