Emerging Trend, Opportunities, Challenges and Creating Awareness for Green Marketing in India
Keeping our environment safe is one of the biggest n eeds of the time today. Environmental issues across the globe have gained prominence in both business and p ublic life as well. Businesses have certainly begun t o modify their behaviour in an attempt to address society's "new c on erns" as society becomes more concerned with the natural environment. Some businesses have been quick to acc ept oncepts like waste minimization eco friendly pr oducts and environmental management systems and also have inte grated environmental issues into all organizational ctivities. In the modern market green marketing is a phenomenon wh ich has developed prominent importance and also has emerged as an important concept in India as in other parts of the developed and developing countries and also seen as an important strategy of facilitating sustainable deve lopment. Analyzing the need of environment protectio n as a vital and necessity component for their long term objectives in business many enterprises today are marketing su stainable products and services and also by promoting co efficient pro duction activities are termed green businesses. Gre en products may be defined as products or services that which have a le sser or reduced bad effect on human health and also the environment when compared with services or competing products tha t serve the same purpose. Green business surely is an enterprise that has no negative effect on economy, environment society and community. It certainly also meets th e triple bottom line such as natural world betterment and social advantag es for employees and members of the local community f nancial benefits of the company. Green business today is pr actically existent everywhere around us. Companies su ch as General Electric and Wal Mart are transforming their busines s practices into green ones. Many of the companies are working on the development of green marketing which in turn ha s opened the door of opportunities in terms of co b randing their products into separate line. In the wake of global wa rming the present paper identifies three particular segments of green consumers and also explores opportunities and chall enges businesses have with green marketing. The pape r also examines the present trends of green marketing in I ndia and also describes the reasons as to why compan ies are trying to adopt it. Present article focuses on various organi zations or the corporate that are actually taking t he initiative needed to keep our environment free from harmful pollutants. In order to tap the market opportunities in the mar ketplace many organizations today are adopting green marketing te chnologies which emphasizes on the fact that there i s a future of green marketing in India. Paper also focuses some o f the problems with green marketing and concludes on the note that green marketing is something that will continuously grow in both practice and demand in the near future ahead.