Importance 0f Green Washing and its Impact on Consumers and Businesses

Abstract

One of the important factors contributing to success of organizations is how closely ethical values are woven into their organizational culture. In the long run an ethical firm builds loyalty and trust among its customers. But even the largest of the corporate seem to overlook these ethical values by indulging in greater profiteering through green washing activities. The awareness about the drawbacks of green washing will help the consumers to make an informed decision in favor of genuine green products. It will also help the companies by educating them on how green washing activities negatively impact their brand image and brand loyalty eventually resulting in decreased revenues and market share. The rapid industrialization and globalization in past decade has led to severe environmental degradation. This has become a cause of great concern for individuals, companies and governments worldwide. Consumers are becoming highly conscious about the products which they purchase and their environmental impacts, which is clearly evident in their purchase behaviour.The acceptance of green products by increased number of consumers has led the manufacturers to adopt eco-friendly practices not only in the production process but also in the end product itself. Green marketing has been considered as the most preferred strategy to attract a huge mass of eco-friendly customers. n marketing.