GREEN MARKETING

With increasing environmental concern and climate change defining the atmosphere, it is essential to recognize that the sustainability of countries depends largely on the accountability of individuals and companies, and subsequent, environmentally considerate actions. By definition, ‘Green Marketing’ is a method of developing and marketing products based on their actual or perceived environmental sustainability. Also known as ‘Environmental’ or ‘Ecological’ Marketing, it encompasses a wide range of actions, including product modification, production and packaging process changes, and promotional changes. The four essential P’s pivotal for the successful implementation of green marketing and consequent, environmental sustainability, are ‘Green Product’, ‘Green Price’, ‘Green Place’, and ‘Green Promotion’.

‘Green Product’ refers to the use of those manufacturing and packaging techniques which minimize environmental damage and are environmentally viable. ‘Green Price’, on the other hand, refers to the cost of absorbing environmental concerns, i.e., the price paid to access and utilize green products. Although green products are comparatively more expensive than traditional products, the cost is compensated by their environmentally feasible characteristics, the absence of which can prove to produce disastrous results for future generations. In terms of place, anything that reduces the effort required by customers and manufacturers to acquire and sell a product qualifies as a ‘Green Place’. Lastly, the attempt made by companies to try and spread awareness among the people about environmental concerns is called ‘Green Promotion’.

A significant characteristic of green marketing is the facilitation and creation of awareness. In the wake of the pandemic, several commercials emphasized on the issue of sanitation, encouraging people to wear masks and wash their hands regularly. This conscious effort made by brands, involving the creation of awareness, is a key example of green marketing. There are substantial several other real- life examples validating the attempt of companies to inculcate green marketing in their functioning and demonstrating themselves as environmentally conscientious. SBI, recently, installed environment friendly and energy efficient equipment at most of its ATMs. Tata Motors is constructing an environment-friendly showroom using natural building materials and energy-efficient lighting, while, The Taj Hotels and Resorts Company is developing ‘Eco Rooms’ with energy-efficient minibars and organic bed linen made from recycled paper. Kansai Nerolac has also worked hard to ensure that its paints are free of hazardous heavy metals. On contemplation, however, a crucial question arises, i.e., why do companies adopt green marketing?

With growing consumer conscientiousness and government intervention, green marketing is vital for brands to maintain the image of their organization, thereby necessitating the prioritization of environmental-friendly techniques. Nowadays, consumers are becoming more concerned about the globe, and hesitate at the idea of contributing to the development of an organization that doesn’t take the concerns of the environment into consideration. Hence, attaining a competitive advantage can be fathomed as the primary reason for companies incorporating green marketing.

To incorporate green marketing, companies use varied methods ranging from eco-friendly paper and inks for print marketing materials to the use of electronic marketing. However, in the hunger for acquiring a competitive edge, some organizations misuse the concept to increase their sales. This is called ‘Greenwashing’, and is derived from "whitewashing." It is dishonest and facilitates complacency among customers and regulators. For example, Dawn, donated soap to ensure the cleaning of animals after an oil spill and also funds animal rescues. However, their product, in itself, contains triclosan, an antibiotic chemical that is hazardous to aquatic life, thereby bringing to light the deceptive and hypocritical techniques used by the company to deceive its customers.

Green marketing, therefore, is critical for businesses to develop green products and services in order to assure long-term growth and foster a symbiotic relationship with society. It should not be viewed as a promotional strategy, but rather as a kind of corporate social responsibility. As a result, a holistic approach to green marketing can be achieved by including green marketing ideas into the marketing mix.

- Mohita Bansal