Research Scholar(IIPS, DAVV, Indore)
**Dr. Preeti Singh
Reader, IIPS, DAVV, Indore
The Impact of Green Marketing Strategies on Business Organisations
The purpose of the study is to examine the impact of Green Marketing Strategies on business. The research objective is how do companies choose their Green Marketing Strategies? To fulfill the objectives of this research paper, a qualitative case study was conducted in different companies. Interviews allowed to author to gain insight as how companies choose green marketing strategies and for what reasons? Findings indicate that the green market strategies differ for each company and must be derived from a company’s individual circumstances including its objectives, resources and competitive advantages. Furthermore, the findings show that most companies can implement green changes in their marketing mix but these should be actively promoted when a product’s green attributes constitutes a key selling point. Finally, the findings indicate that financial benefits, and the possibility of gaining a competitive advantage, are the foremost incentives for implementing green measures.
Key words: Green Marketing, Green Marketing Mix, Competitive Advantages, Target Market.
A majority of people believe that green marketing refers solely to the promotion or advertising of products with environmental characteristics. The terms like Phosphate Free, Recyclable, Refillable, Ozone Friendly, and Environmentally Friendly are some of the things consumers most often associate with green marketing. While these terms are green marketing claims, in general green marketing is a much broader concept, one that can be applied to consumer goods, industrial goods, electronic goods, processed food, clothing, footwear, cosmetics and even services. For example, around the world there are resorts that are beginning to promote themselves as "ecotourist" facilities, i.e., facilities that "specialize" in experiencing nature or operating in a fashion that minimizes their environmental impact and hence they are differentiating their products and services in the market.
"The marketing of products that are presumed to be environmentally safe". American Marketing Association.
"Promotional activities aimed at taking advantage of the changing consumer attitudes toward a brand. These changes are increasingly being influenced by a firm's policies and practices that affect the quality of the environment, and reflect the level of its concern for the community". Businessdictionary.com.
"Integrating business practices and products that are friendly to the environment while they also meeting the needs of the consumers". Pearson Education.
As you can see these definitions range broadly from 'taking advantage' of consumer attitudes. One focuses on the nature of the product, another on the practices of the organisation.
Green Marketing Strategy
Developing a strategy, of any kind, is a complex undertaking which can be facilitated with the help of theoretical frameworks. Therefore, this section will present two models, The Green Marketing Grid (Grant, 2007, pp. 57-273) and The Green Marketing Strategy Matrix (Ginsberg & Bloom, 2004) which will be used to analyse a corporation’s strategic options within green marketing.
The Green Marketing Grid:
Grant views green marketing as “a creative opportunity, to innovate in ways that make a difference and at the same time achieve business success” (2007). He has developed the Green Marketing Grid, consisting of 18 different types of green marketing aimed at making green alternatives seem normal and accepted (2007). They are laid out in two 3 x 3 grids.