Green Marketing: Advantages and Disadvantages

car park market Advantages and DisadvantagesACKNOWLEDGEMENTAs I sum up draft of my study, I appreciatively reminisce the contri simplyion of alto sufferher those pile without whose support and help, this study would put one over neer interpreted its exhibit form.I take this opportunity to express my straightforward gratitude towards the pillars of successful completion of Dissertation Report, without whose unflinching assistance co-operation at all times it would rather redeem been impossible for me to achieve the desired goal.I am greatly indebted to my faculty guide mentor, Mr.Saravana Krishnamurthy, Professor Kohinoor affair School, Khandala for his undying support encouragement doneout the shed.Lastly I would worry to thank my school, Kohinoor Business School, Khandala for giving me this opportunity to put to practice, the theoretical cognition that I imparted from the program .Last but non the least I express my thanks to all the respondents who showed a keen aro occasion in my Project, relatives, friends and neighbors to provide me the necessary resources to complete the Project the help provided to me at any step.DEDICATIONKeep your dreams alive. Understand to achieve anything requires faith and belief in yourself, vision,hard work, determination, and dedication. Remember all things atomic number 18 possible for those who think.-Merlin OlsenI dedicate this field of study to my pargonnts and friends in recognition of their worth and to my teachers who atomic number 18 the guiding force for me and it is their bowel imprintment and hard work that showed me the path of success and prosperity which would be thither for me for the rest of my life.I would like to thank and dedicate this report to everyone who screwingly and un lie withingly contributed to the completion of my Summer Internship Project.I hope people dress this report holdful and the subject matter adds to their knowledge.ABSTRACTIn todays business concern world environsal issues plays an important role in trade. All nigh all the governments around the world put up concerned close putting one thousand selling activities that they check attempted to regulate them. For example, in the United States (US) the federal official Trade Commission and the National Association of Attorneys-General have developed commodious documents examining cat valium selling. there has been little attempt to academically examine purlieual or kB market. It introduces the cost and patterns of ballpark market, briefly discuss why outlet jet planes is important and in like manner examine just about of the cause that organizations argon adopting a light- spirtness market philosophy. It in like manner focuses some of the problems with parking ara trade.It identifies the key to successful jet marketing Credibility Publicize stories of the companys and employees viridity initiatives. Enter purlieual awards programs to profile milieual credentials to customers and stakeholders. Never hyperbolize environmental claims or establish unrealistic expectations.It besides tells about why Are Firms Using Green merchandise Organizations recognize environmental marketing to be an opportunity that lav be apply to achieve its objectives Organizations believe they have a moral obligation to be to a greater extent socially trus tworthy Governmental bodies atomic number 18 forcing firms to become more responsible Competitors environmental activities pressure firms to throw their environmental marketing activities hail factors associated with waste disposal, or reductions in material usage forces firms to modify their deportmentThis report stresses upon the accomplishment of jet marketing on the consumers. Green marketing isnt just a catchphrase its a marketing strategy that can help you get more customers and agnize more money. But completely if you do it right. objective1)To hold in whether Indian consumers are ready for Green Marketing2) To determine whether Price has tack on purchase of green convergences3) To determine whether environment consciousness has effect on purchase of green products4) To determine whether availableness has effect on the purchase of green products5) To determine whether Awareness has an effect on Purchase of green productsRESEARCH METHDOLOGYResearch method actingology is a representation to systematically solve the look problem. It whitethorn be mum as a science of studying how search is done scientifically. In it we study the unhomogeneous steps that are generally adopted by a researcher in studying his research problem on with the logic behind them. It is necessary for the researcher to know not only the research methods/techniques but alike the methodology. Researchers not only need to know how to develop sealed indices or tests, how to calculate the mean, the mode, the median or the billdeviation, how to apply particular research techniques, but they likewise need to know which of these methods or techniques, are relevant and which are not, and what would they mean and point and why. Researchers also need to understand the assumptions underlying various techniques and they need to know the criteria by which they can decide that certain techniques and procedures get out be applicable to certain problems and opposite(a)s leave not. gum olibanum, when we lambaste of research methodology we not only talk of the research methods butalso film the logic behind the methods we use in the context of our research study andexplain why we are using a particular method or technique and why we are not using others.INTRODUCTIONAccording to the American Marketing Association 1,green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a broad range of activities, including* Product modification,* Changes to the take butt against,* Packaging changes, as well as* in terchangeing advertising.Yet defining green marketing is not a simple task where some(prenominal) meanings run into and contradict each other an example of this leave be the populace of varying social, environmental and retail definitions attached to this term. Other similar hurt use are Environmental Marketing and Ecological Marketing. The legal implications of marketing claims call for caution. Mis starting or overstated claims can lead to regulative or civil challenges. In the USA, the Federal Trade Commission provides some guidance on environmental marketing claims.The term green marketing 2 came into prominence in the late 1980s and early 1990s. The American Marketing Association (AMA) held the first workshop on Ecological Marketing in 1975. The proceedings of this workshop resulted in one of the first books on green marketing entitled Ecological Marketing Thus green marketing incorporates a broad range of activities, including product modification, changes to the product ion process, packaging changes, as well as modifying advertising.My definition which encompasses all major components of other definitions is Green or Environmental Marketing consists of all activities intentional to generate and despatch any exchanges intended to satisfy human unavoidably or wants, much(prenominal)(prenominal) that the satisfaction of these needs and wants occurs, with minimal detrimental violation on the inseparable environment. This definition incorporates much of the traditional components of the marketing definition that is All activities designed to generate and facilitate any exchanges intended to satisfy human needs or wants.So, in simple toll Green marketing refers to the process of selling products and/or service based on their environmental benefits. much(prenominal) a product or service may be environmentally cozy in itself or produced and/or packaged in an environmentally friendly guidance.The obvious assumption of green marketing is that pote ntial consumers will view a product or services greenness as a benefit and base their purchasing decision accordingly. The not-so-obvious assumption of green marketing is that consumers will be willing to pay more for green products than they would for a little-green comparable alternative product -an assumption that has not been proven conclusively, special(prenominal)ly the mild effect which it had had on consumers has washed away by the present recession (2008-09) only.Green marketers though argue that it is a way to use the environmental benefits of a product or service to pass on sales. Many consumers will choose products that do not damage the environment over less environmentally friendly products, even if they cost more. With green marketing, advertisers focus on environmental benefits to sell products such as biodegradable diapers, energy- effectual light bulbs, and environmentally safe detergents.People demoralise billions of dollars worth of goods and services every yearmany of which harm the environment in the way they are harvested, made, or used. Environmentalists support green marketing to encourage people to use environmentally preferable alternatives, and to offer incentives to manufacturers that develop more environmentally beneficial products.IMPORTANCE OF kB merchandiseMan has limited resources on the earth 3, with which she/he must attempt to provide for the worlds unlimited wants. in that situation is extensive debate as to whether the earth is a resource at mans disposal. In market societies where there is supernumerarydom of choice, it has generally been accepted that individuals and organizations have the right to attempt to have their wants satisfied. As firmsface limited raw(a) resources, they must develop pertly or alternative ways of pleasing these unlimited wants. Ultimately green marketing looks at how marketing activities utilize these limited resources, while satisfying consumers wants, both of individuals and indu stry, as well as achieving the selling organizations objectives.When looking at through the literature there are several suggested reasons for firms increased use of Green Marketing. Five possible reasons cited are Organizations perceive environmental marketing to be an opportunity that can be used to achieve its objectives Organizations believe they have a moral obligation to be more socially responsible Governmental bodies are forcing firms to become more responsible Competitors environmental activities pressure firms to change their environmental marketing activities speak to factors associated with waste disposal, or reductions in material usage forces firms to modify their behavior OpportunitiesGOALS OF jet merchandising Eliminate the concept of waste. Reinvent the concept of product. curb prices reflect actual and environmental costs. Make environmentalism cabbageable. Bringing out product modifications. Changing in production processes. Packaging changes. Modifying adver tising.NEED OF GREEN MARKETING AN ANTHROPOLOGICAL VIEWIssues like Global warming 3 and depletion of ozone umbrella are the main for the wellnessy survival. Every person rich or unfortunate would be interested in quality life with full of health and vigor and so would the corporate single out. Financial gain and economic profit is the main aim of any corporate business. But harm to environment cost by sustain business across the globe is realise now though off late. This sense is building corporate citizenship in the business class. So green marketing by the business class is still in the selfish anthological perspective of huge term sustainable business and to please the consumer and obtain the sanction license by the organization body. Industries in Asian countries are catching the need of green marketing from the developed countries but still there is a wide bedcover between their understanding and implementation.CHALLENGES IN GREEN MARKETING NEED FOR normalisationIt is foun d that only 5% of the marketing messages from Green campaigns are entirely true and there is a lack of standardization to au whereforeticate these claims. There is no standardization to authenticate these claims. There is no standardization soon in place to certify a product as essential. Unless some regulatory bodies are involved in providing the certifications there will not be any verifiable means. A standard quality picture board needs to be in place for such labeling and licensing. bracing CONCEPTIndian literate and urban consumer is get more sensitive about the merits of Green products. But it is still a new concept for the masses. The consumer needs to be ameliorate and made aware of the environmental threats. The new green movements need to reach the masses and that will take a lot of time and effort.By Indias ayurvedic heritage, Indian consumers do instruct the richness of using natural and herbal beauty products. Indian consumer is exposed to water-loving living lifestyles such as yoga and natural food usage. In those sayings the consumer is already aware and will be inclined to accept the green products. assiduity AND PERSEVERANCEThe investors and corporate need to view the environment as a major long-terminvestment opportunity, the marketers need to look at the long-term benefits from this new green movement. It will require a lot of patience and no immediate results. Since it is a new concept and idea, it will have its own acceptance period. AVOIDING GREEN MYOPIAThe first rule of green marketing is focusing on customer benefits i.e. the primary reason why consumers buy certain products in the first place. Do this right, and motivate consumers to transpose brands or even pay a premium for the greener alternative. It is not going to help if product is developed which is absolutely green in various aspects but does not pass the customer satisfaction criteria. This will lead to green myopia. Also if the green products are priced very h igh then again it will loose its market acceptability.BENEFITS OF GREEN MARKETINGTodays consumers are becoming more and more conscious about the environment and are also becoming socially responsible. Therefore, more companies are responsible to consumers aspirations for environmentally less damaging or neutral products. Many companies want to have an early mover advantage as they have to eventually move towards becoming green.Some of the advantages of green marketing areIt ensures sustained long term addition along with profitability. It saves money in the long run, though initially the cost is more. It helps the companies market their products and services care the environment aspects in mind. It helps in accessing the new markets and enjoying the competitive advantage. Most of the employees also feel high and responsible to be working for an environmentally responsible company.GREEN MARKETING MIXPRODUCTEntrepreneurs 5 wanting to exploit emerging green markets all Identify cus tomers environmental needs and develop products to address these needs or will develop environmentally responsible products to have less impact than competitors.The increasingly wide variety of products on the market that support sustainable maturations are Products made from recycled goods, such as Quick N tuff housing materials made from recycled broccoli boxes. Products that can be recycled or reused. cost-efficient products, which save water, energy or gasoline, save money and reduce environmental impact. Products with environmentally responsible packaging, McDonalds, for example, changed their packaging from polystyrene clamshells to paper. Products with green labels, as long as they offer substantiation. Certified products, which meet or exceed environmentally responsible criteria. Organic products-many customers are prepared to pay a premium for organic products, which offer promise of quality. Organic butchers, for example, promote the added qualities such as savvy and te nderness. A service that rents or loans products-toy libraries.Whatever the product or service, it is rattling to ensure that products meet or exceed the quality expectation of customers and is exhaustively tested.PRICEPricing is the critical element of the marketing mix. Most customers will only be prepared to pay a premium if there is a perception of additional product esteem. This value may be repaird performance, function, design, visual appeal or taste. Environmental benefits will be often be the deciding factor between products of equal value or quality.Environmentally responsible products, however are often less expensive when product life cycle coast are taken into consideration, for example fuel-efficient vehicles, water efficient printing and non-hazardous products.PLACEThe choice of where and when to make products available will have significant impact on the customers you attract. real few customers go out of their way to buy green products just for the sake of it. Marketers looking to successfully introduce new green products should coif them broadly in the market place so they are not just appealing to a small green niche market.The location must also be consistent with the image you want to project and allow you to project your own image rather than being dominated or compromised by the image of venue. The location must polariate you from the competitors. This can be achieved by in-store promotions and visually appealing displays or using recycled materials to mark the environmental and other benefits.PROMOTIONPromoting products and services to target markets include paying(a) advertising, public relations, sales promotions, direct marketing and on-site promotions. Smart green marketers will be able to reinforce environmental credibility by using sustainable marketing and communication tools and practices. For example, many companies in the financial industry are providing electronicstatements by email e-marketing is rapidly success or more traditional marketing methods and printed materials can be produced using recycled materials and efficient processes such as waterless printing.Retailers, for example are recognizing the value of alliances with other companies, environmental groups and research organizations. When promoting their environmental commitment to reduce the use of pliant bags and promote their green commitment, some retailers sell shopping bags and promote their green commitments.Moving Towards Green MarketingThe era of green marketing has begun. It has already been granted wide acceptance by all stakeholders. However, there is a need to lay down the standards and practices, in order to bring in objectivity in the judgment of various national and international agencies. This will not only encourage the activities of green marketing but shall also provide the much needed train playing fields to all. certify TRENDS IN GREEN MARKETING IN INDIA6. Organizations Perceive Environmental marketing to be an Opportunity that can be used to achieve its objectives.Firms have realized that consumers prefer products that do not harm the natural environment as also the human health. Firms marketing such green products are preferred over the others not doing so and thus develop a competitive advantage, simultaneously meeting their business objectives. Organizations believe they have a moral obligation to be more socially responsible.This is in alimentationing with the philosophy of CSR which has been successfully adopted by many business houses to improve their corporate image.Firms in this situation can take two approaches expend the fact that they are environmentally responsible as a marketing tool. Become responsible without prompting this fact.. Governmental Bodies are forcing Firms to Become more(prenominal) ResponsibleIn most cases the government forces the firm to adopt form _or_ system of government which protects the interests of the consumers. It does so in following ways Red uce production of bad goods or by -products Modify consumer and industrys use and /or consumption of counterproductive goods or Ensure that all types of consumers have the ability to evaluate the environmental composition of goods. Competitors Environmental Activities Pressure Firms to change their Environmental Marketing ActivitiesIn order to get even with competitors claim to being environmentally friendly, firms change over to green marketing. Result is green marketing percolates entire industry.. Cost Factors Associated With Waste Disposal or Reductions in Material Usage Forces Firms to Modify their BehaviorWith cost cutting becoming part of the strategy of the firms it adopts green marketing in relation to these activities. It may pursue these as follows A Firm develops a technology for reducing waste and sells it to other firms. A waste recycling or removal industry develops.LITERATURE critical review1. GOLDEN GOOSE OR WILD GOOSE? THE HUNT FOR THE GREEN CONSUMERThis paper t ries to provide insight by discarding the socio-demographic and personality-based influences that have been the prime research focus for the last 20 years or else, it follows the example of other researchers looking at the importance of situational factors relating to the purchase itself. The green purchase perception intercellular substance brings together two of the factors that have most often shown a haughty link with green purchase behaviour in academic research perceived consumer effectiveness (PCE) and cost/ benefit trade-offs. The consumer will remain rally to the greening of business for two very important reasons. Firstly, the consumption undertaken by private households accounts for a large proportion of the economys environmental impact . Secondly, consumption must also form part of the solution within free market economies in which consumer sovereignty is enshrined, and where the majority of companies profess to have a marketing orientation. However, continuing with in the conventional marketing paradigm (and with a hunting mentality of identifying and targeting the green consumer with bait, traps and a little camouflage) is unlikely to earn significant progress towards sustainability. Perhaps more importantly companies need to effect the right habitat in which green consumption can thrive. Instead of acting as hunters, aggressively trying to benefit from the emergence of green consumers by targeting them, they could act more like gamekeepers who nurture and facilitate growth in the population of green consumers. This can be achieved by boosting consumer corporate trust and by reducing the take of compromise they must make through openness, the provision of full information and consumer choice, environmentally realistic pricing and the development of innovative clean technology solutions.Reference-Ken Peattie (2001), Bussiness Strategy Environment, favorable goose or wild goose? The Hunt For the green Consumers, Vol Bus. Strat. Env. 10, 18 7-1992. A CONTENT ANALYSIS OF ENVIRONMENTAL ADVERTISING CLAIMS A MATRIX regularity APPROACHThis study demonstrates that environmental advertising is not a large phenomenon. Certain types of claims posed among environmental a dare more unvaccinated to consumer confusion and perceptions of deception. Advertisers would be well advised to pay particular care to these types claims, particularly in light of the recent FTC directives. In their efforts to jump on the green bandwagon, advertisers should be sensitized to the fact that image claims may be a specific problem area Care should be taken in developing and pretest in environmental ads that rely on such claims and efforts to monitor consumer response to them should made. Ultimately, applying the matrix that we have developed here may help to identify such shortcomings with environmental advertising claims and direct precaution to potential remedies.Reference-Les Carlson, Stephen J Grove Norman Kangum (Sep 1993), daybook of Adve rtising, A context Analysis of environmental Advertising Claims A matrix Method Approach, Vol. XXII, No. 3, 27-38.3.BUYER CHARACTERISTICS OF THE GREEN CONSUMERS AND THEIR IMPLICATIONS FOR ADVERTISING STRATEGYThe study results provide raise and potentially useful information about the consumer who is interested in buying green. They suggest that particular consumer attitudes are related to the propensity to buy green, but the relations are qualified somewhat by gender and by the nature of the green buying behavior.Making a special effort to buy green is unrelated to propensity buying and brand loyalty. In terms of the communication variables, persons making a special effort to buy green found magazines more interesting than television and indicated they would not buy a brand whose advertising they dislike.As expected, it was found predictor-criterion relationship differences between the two green buying variables. One criterion variable (making a special effort to buy green) taps a general interest in buying green. The other criterion variable (switching brands to buy green, even at the expense of product effectiveness) is more specific and more stringent in terms of greenness in that it provides more constraints and introduces a salient cost. The results indicate that, across genders, the consumer variables do a better job of predicting the variance in the former criterion than that in the latter criterion.. The results show that the green consumer has an interest in new products, is an information look toer, and talks with others about products. Additionally, green consumers consider themselves opinion leaders, and hence may provide word-of-mouth information that other consumers respect. The green consumer is also a careful shopper, not prone to impulse buying, and pays attention to price, so advertisers must consider those issues as well.The results suggest that if companies do succeed in attracting green-oriented consumers, they will have to continue wor king to keep them. The lack of brand loyalty on the part of green consumers (in likeness with those less green), coupled with their propensity to actively seek information, implies that the green consumer will always be looking for new products.Although the environmental movement has been afoot(predicate) for years, green marketing seems to be a relatively new phenomenon. Marketers are typically not slow to adopt an innovation, but green marketing is in some ways fraught with peril Certainly, marketers are getting mixed signalsfrom polls, from research results, an d from sales figures. Common sense suggests that the use of green appeals by marketers can be productive. However, recent research on green marketing and the green consumer, indicates that the concepts will not be lenient to apply. Green consumers must be treated carefully and, in particular, with respect. They place to be careful and thoughtful consumers. Treated fairly, they may be centripetal treated myopicly, they may not only switch brands, but also take others with them.References-L J Shrun, John A McCarty Tina M Lowrey (Summer 1995), Journal of advertising, Buyer Characteristics of the green consumers and Their implications for Advertising strategy, Vol XXIV, no 2, 71-814.ROLE OF SOCIO DEMOGRAPHICS IN SEGMENTING AND PROFILING GREEN CONSUMERS AN EXPLORATORY STUDY OF CONSUMERS IN INDIAThough green consumerism is on the rise, not all the consumers are equally green. To be able to more effectively market green products and ideas,marketers need to segment their market and use place marketing approach for each target segment. Socio-demographic characteristics have been widely used in the past researches as a basis of market segmentation and profiling of green consumers. The present study explores the usefulness of select socio-demographic characteristics in capturing variations present in the environmental consciousness of the consumers in India. Both the univariate and multivariate analyse s point to the presence of statistically significant linkages between the socio-demographic characteristics and different environmental consciousness constructs, thus implying potential usefulness of these characteristics in profiling different segments of green consumers an devolving accordingly the green marketing strategies and environmental campaigns as adequate to(p) of more effectively reaching and influencing the chosen green consumer segments. The study has active a more elaborate conceptualization of the environmental consciousness construct.Regarding age,. A negative relationship of age with WSE, IISB and IIO signifies a greater tendency among the relatively younger persons (viz., those belonging to the age groups 18-24 years and 24-35 years) to actively search for the environmentally friendly products, gather environment related information and influence others to abide in an environmentally responsible manner. These persons, however, appear less enthusiastic about cho osing the least polluting products (ICLPP). This might be due to their lower purchasing causation for being mainly either students or unemployed at this ramification in their family life cycle.Education level is found to be importantly related with the environmental consciousness in respect to five environmental consciousness measures. A significantly positive relationship of the education level with environmental knowledge (EK), incidence and relative frequency of conservation behavior (ICB and FCB) and frequency of environmental activism implies greater environmental consciousness among the relatively more educated persons. Because of their higher intellectual orientation, these persons are able to better understand and appreciate green ideas and green claims made by the green marketers. Education level is, however, found to be significantly but negatively related with the respondents willingness to seek environmentally friendly products (WSE).The variable typeofschoolattended emerges as a significant check of the environmental consciousness for as many as six constructs. up to now being less articulate and extrovert, persons with the government school background display a higher level of environmental consciousness in terms of environmental awareness (AEIP) as well as willingness to seek environmentally friendly products (WSE), incidence of seeking information (IISB), conserving resources (ICB) and choosing the least polluting products (ICLPP). The only aspect where they lag behind persons with the private school background is frequency of environmental activism (FEA), probably due to being less extrovert and gregarious than their counterpart.Income also emerges as an important correlate of environmental consciousness. Persons with higher income are also high in their awareness of the environmental regulations (AER),willingness to pay for the environmentally friendly products (WPM), incidence of information seeking behavior (IISB) and choosing the lea st polluting products (ICLPP). But in terms of their involvement with the activities relating to influencing others (IIO) and conserving the environment (FCB), they turn out to be poor performers.References-Sanjay k Jain Gurmeet Kaur (2006), Role of Socio Demographics in Segmenting and profiling Green Consumers An wildcat Study of consumers in India, Vol. 18 (3), 107-1465. GREEN MARKETING, AN INDIAN PERSPECTIVEThe present paper discusses the emergence of environmentalism in India and examines the response of government agencies, consumers, non- business organizations and corporat