GREEN MARKETING IN INDIAN PHARMACEUTICAL MARKET: A REVIEW

Abstract

According to American Marketing Association- “Green marketing is the marketing of the products that are presumed to be environmentally safe”. Green marketing has arisen as an answer to the growing concern of the environmental state which has a huge influence on the society’s well-being. Green marketing is a holistic management process responsible for identifying, anticipating and satisfying the requirements of customers and society, in a profitable and sustainable way. Sustainable business practices are important not only for today but also for securing business tomorrow. This paper propounds a literature evaluation on pharmaceutical green marketing consisting of the definition of green marketing, implementations of it at various stages, green marketing adoption by organizations and pharmaceutical groups based on advertising techniques, and consumer’s viewpoint towards green marketing and pharma market in India. Data collected over ten-year period results in objective which measures the impact of green marketing aspects consisting of green marketing strategies, green consumers, green communication, green segmentation and targeting, green supply chain and its management, green promoting approaches on the overall performance of pharmaceutical groups in India. Consumer's viewpoint in the direction of green products attracted the pharmaceuticals firm most. Though numerous researches have been carried out on green marketing, there is a dearth of papers that takes pharmaceutical green marketing into account and this paper focuses on the essential aspects of green pharmaceutical marketing.