International Journal of Research and Development - A Management Review (IJRDMR) ________________________________________________________________________________________________ Green Marketing V. Princy Metilda M Com (CA).,PGDCA, MBA, M Phil., Assistant Professor, Department of Commerce, Nehru Arts & Science College. Abstract- Green marketing is a phenomenon which has developed particular important in the modern market. This concept has enabled for the re-marketing and packaging of existing products which already adhere to such guidelines. Additionally, the development of green marketing has opened the door of opportunity for companies to co-brand their products into separate line, lauding the green-friendliness of some while ignoring that of others. Such marketing techniques will be explained as a direct result of movement in the minds of the consumer market. As a result of this businesses have increased their rate of targeting consumers who are concerned about the environment. These same consumers through their concern are interested in integrating environmental issues into their purchasing decisions through their incorporation into the process and content of the marketing strategy for whatever product may be required. This paper discusses how businesses have increased their rate of targeting green consumers, those who are concerned about the environment and allow it to affect their purchasing decisions. The paper identifies the three particular segments of green consumers and explores the challenges and opportunities businesses have with green marketing. The paper also examines the present trends of green marketing in India and describes the reason why companies are adopting it and future of green marketing and concludes that green marketing is something that will continuously grow in both practice and demand. KEY WORDS: Green Product, Environmentally safe, Eco Friendly. Recyclable, product modification, changes to the production process, packaging changes, as well as modifying advertising. GREEN PRODUCTS CHARACTERISTICS ITS The products those are manufactured through green technology and that caused no environmental hazards are called green products. Promotion of green technology and green products is necessary for conservation of natural resources and sustainable development. We can define green products by following measures: Products those are originally grown, Products those are recyclable, reusable and biodegra- dabbled, Products with natural ingredients, Products containing recycled contents, non-toxic chemical, Products contents under approved chemical, Products that do not harm or pollute the environment, Products that will not be tested on animals, Products that have eco-friendly packaging i.e. reusable, refillable containers etc. IMPLEMENTING STRATEGIES MEANING Green marketing, also alternatively known as environmental marketing and sustainable marketing, refers to an organization's efforts at designing, promoting, pricing and distributing products that will not harm the environment. Unfortunately, a majority of people believe that green marketing refers solely to the promotion or advertising of products with environmental characteristics. 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 incorporates a broad range of activities, including AND Set legal constraints on green marketing. Governments can lead the private sector to better green marketing and ensure its credibility by providing guidelines or regulations for assessing products. Existing national and inter- national regulations for marketing and advertisements mainly ensure honesty and transparency for protecting the safety of consumers. The idea of regulating marketing claims comes from consumer protection movements to govern certain production categories, such as organic products, or to regulate that a product accurately reflects the real qualities that it claims to possess. ________________________________________________________________________________________________ ISSN (Print): 2319–5479, 2014 9 International Journal of Research and Development - A Management Review (IJRDMR) ________________________________________________________________________________________________ ECO-FRIENDLY STRENGTHS IN GREEN MARKETING Eco-friendly literally means earth-friendly or not harmful to the environment .This term most commonly refers to products that contribute to green living or practices that help conserve resources like water and energy. Eco-friendly products also prevent contributions to air, water and land pollution. We can engage in ecofriendly habits or practices by being more conscious of how you use resources. The term "eco-friendly" has been used for so many different products and practices; its meaning is in danger of being lost. By understanding the true meaning of eco-friendly, you can implement the practices that will lead to healthier living for the planet and its inhabitants, big and small. • Business opportunity: A majority of the population in countries of varying geographical and economic background want to consume in a more sustainable way. Businesses can tap into this huge potential client base by stepping up their environmental performance and by communicating this change to their buyers. • Environmentally conscious businesses: In addition to improved profitability, which is a direct benefit for the business itself, green marketing can also benefit society by facilitating not only the communication about but also the use of green business practices. It can be assumed that companies engaging in environmental marketing activities actually have a high possibility to improve their behaviour, because to claim that their products are green they have to actually assess the product in a way that meets certain requirements to attain certified eco-labels. • Environmentally conscious consumers: If conducted correctly and credibly, green marketing can enhance the quantity and quality of environmentally conscious consumerism. By pointing out the adverse effects of conventional business and production practices on the environment and introducing and informing about green alternatives, consumers are enabled to make a conscious choice with their purchases. • Business practice transparency: Green marketing is a double-edged sword for businesses. On one hand, they can appeal to green consumers, but on the other they have to live up to the green reputation they try to establish. In this sense, green businesses are held accountable by both the government and society. To be certified by green labels, companies have to disclose information about their management and production practices that would normally not be accessible to the public. Hence, green marketing is a tool that also enhances business transparency. • Acceptance of environmental price internalization: An inherent part of green marketing is to communicate why green products are priced differently than their conventional counterparts. The premium price is the reflection of the environmental costs that the resource extraction and processing incur, which is usually not reflected in the market price. This way, green marketing helps acclimate consumers to accept paying higher prices for products that actually integrate the environmental impacts they inflict into their prices. IMPLEMENTING STRATEGIES Set legal constraints on green marketing. Governments can lead the private sector to better green marketing and ensure its credibility by providing guidelines or regulations for assessing products. Existing national and inter- national regulations for marketing and advertisements mainly ensure honesty and transparency for protecting the safety of consumers. The idea of regulating marketing claims comes from consumer protection movements to govern certain production categories, such as organic products, or to regulate that a product accurately reflects the real qualities that it claims to possess. CHALLENGES FOR GREEN MARKETING Price PRemium Gap Between Sustainable Intension & Behaviour Deluding Information Vague Credibility PRESENT TRENDS IN GREEN MARKETING IN INDIA Firms have realized that consumers prefer products that do not harm the natural environment as also the human ________________________________________________________________________________________________ ISSN (Print): 2319–5479, 2014 10 International Journal of Research and Development - A Management Review (IJRDMR) ________________________________________________________________________________________________ health. In this situation the firm can take two approaches: • Become responsible without prompting this fact. Governmental Bodies are forcing Firms to Become More Responsible. In most cases the government forces the firm to adopt policy which protects the interests of the consumers. It does so in following ways: • Reduce production of harmful goods or by products • Modify consumer and industry's use and /or consumption of harmful goods. According to Technocratic Charts, the average number of daily references to “green marketing” in the blogosphere doubled from about 150 per day in 2006 to more than 300 per day during the second half of 2007. EXAMPLE 1: India's 1st Green Stadium the Thyagaraja Stadium stands tall in the quiet residential colony behind the Capital's famous INA Market. It was jointly dedicated by Union Sports Minister MS Gill and Chief Minister Sheila Dikshit on Friday. Dikshit said that the stadium is going to be the first green stadium in India, which has taken a series of steps to ensure energy conservation and this stadium has been constructed as per the green building concept with eco-friendly materials. EXAMPLE 2: Eco-friendly Rickshaws before CWG Chief minister Sheila Dikshit launched on Tuesday a battery- operated rickshaw, “E-rick”, sponsored by a cellular services provider, to promote eco-friendly transportation in the city ahead of the Commonwealth Games. EXAMPLE 3: Wipro Green It. Wipro can do for you in your quest for a sustainable tomorrow - reduce costs, reduce your carbon footprints and become more efficient - all while saving the environment. Wipro’s Green Machines (In India Only) Wipro InfoTech was India's first company to launch environment friendly computer peripherals. For the Indian market, Wipro has launched a new range of desktops and laptops called Wipro Green ware. These products are ROMs (Restriction of Hazardous Substances) compliant thus reducing e-waste in the environment. Notably, interest in green marketing spiked considerably in late summer just as reports of persistent drought in the Southeast (and Southwest) appeared in the national media, and again during the fall when brushfires scorched much of California. Additionally, late fall brought news from the UN’s conference at Bali and legislative action on an energy bill in Washington. Moreover, according to Google Trends, search volume for “green marketing” also continued to trend upward during 2007. SOME CASES Interestingly, green marketing continues to be an issue of 5 global interests. In fact, Google Trends reports that, on a relative basis, more searches for “green marketing” originated from India than from any other country. Rank Country I II III IV V VI VII INDIA UK USA THAILAND AUSTRALIA CANADA CHINA EXAMPLE 4 : Agartala to be India's first Green City Tripura Sunday announced plans to make all public and private vehicles in Agartala run on compressed natural gas (CNG) by 2013, thus making the capital “India's first green city”. EXAMPLE 5: Tripura Natural Gas Co Ltd (TNGCL), a joint venture of the Gas Authority of India Ltd (GAIL) and the Tripura and Assam governments, has undertaken a project to supply CNG to all private and government vehicles.CNG will also be available to those now using electricity, petrol and diesel to run various machineries. THE FUTURE OF GREEN MARKETING There are many lessons to be learned to be learned to avoid green marketing myopia, the short version of all this is that effective green marketing requires applying good marketing principles to make green products desirable for consumers. Business scholars have viewed it as a “fringe” topic, given that environmentalism's acceptance of limits and conservation does not mesh well with marketing's traditional axioms of “give customer what they want” and “sell as much as you can”. Evidence indicates that successful green products have avoided green marketing myopia by following ________________________________________________________________________________________________ ISSN (Print): 2319–5479, 2014 11 International Journal of Research and Development - A Management Review (IJRDMR) ________________________________________________________________________________________________ Three important principles: CONSUMER VALUE POSITIONING • Design environmental products to perform as well as better than the alternatives. • Promote and deliver the consumer desired value of environmental products and target relevant consumer market segments. • Broaden mainstream appeal by bundling consumer desired value into environmental products. CALIBRATION OF CONSUMER KNOWLEDGE • Educate consumers with marketing messages that connect environmental attributes with desired consumer value. • Frame environmental product attributes as “solutions” for consumer needs. • Create engaging and educational internet sites about environmental products desired consumer value. CREDIBILITY OF PRODUCT CLAIM • Employ environmental product and consumer benefit claims that are specific and meaningful. • Procure product endorsements or eco-certifications from trustworthy third parties and educate consumers about the meaning behind those endorsements. • Encourage consumer evangelism via consumers social and internet communication network with compelling, interesting and entertaining information about environmental products. CONCLUSION Now this is the right time to select “Green Marketing” globally. It will come with drastic change in the world of business if all nations will make strict roles because green marketing is essential to save world from pollution. From the business point of view because a clever marketer is one who not only convinces the consumer, but also involves the consumer in marketing his product. Green marketing should not be considered as just one more approach to marketing, but has to be pursued with much greater vigour, as it has an environmental and social dimension to it. With the threat of global warming looming large, it is extremely important that green marketing becomes the norm rather than an exception or just a fad. Recycling of paper, metals, plastics, etc., in a safe and environmentally harmless manner should become much more systematized and universal. It has to become the general norm to use energy-efficient lamps and other electrical goods. Marketers also have the responsibility to make the consumers understand the need for and benefits of green products as compared to non-green ones. In green marketing, consumers are willing to pay more to maintain a cleaner and greener environment. Finally, consumers, industrial buyers and suppliers need to pressurize effects on minimize the negative effects on the environment-friendly. Green marketing assumes even more importance and relevance in developing countries like India. ________________________________________________________________________________________________ ISSN (Print): 2319–5479, 2014 12 International Journal of Research and Development - A Management Review (IJRDMR) ________________________________________________________________________________________________ REFERENCES [4] www.greenpeace.org/international [1] J.A Othman, "Avoiding Green Marketing Myopia", Environment, Vol-48, June-2006 [5] www.google.com [6] [2] www.greenmarketing.net/stratergic.html http://www.iocl.com/AboutUs/environment% 28GFA% 29.aspx [3] www.epa.qld.gov.au/sustainable_ industries ________________________________________________________________________________________________ ISSN (Print): 2319–5479, 2014 13