Adoption of Green Marketing Strategies and Challenges in Sustainable Business Practices: Insights from Indian Companies
Adoption of Green Marketing Strategies and Challenges in Sustainable Business Practices: Insights from Indian Companies
Author(s): Gautam Rawat, Mohan Chandra PandeSubject(s): National Economy, Energy and Environmental Studies, Financial Markets, Socio-Economic Research, Green Transformation
Published by: Acadlore Publishing Services Limited
Keywords: Green marketing; Corporate Social Responsibility (CSR); Indian companies; Sustainability; Green incentives;
Summary/Abstract: The increasing global awareness of environmental issues has driven consumers toward eco-friendly products, making green marketing an essential aspect of contemporary business strategy. Originating in the 1980s, the concept of "going green" has significantly evolved, positioning sustainability at the forefront of corporate agendas. Indian companies, in particular, are increasingly adopting green marketing strategies to appeal to environmentally conscious consumers and maintain competitiveness in an eco-aware marketplace. However, significant challenges persist, primarily concerning perceived costs and the effectiveness of these strategies. This study aims to critically examine the landscape of green marketing in India, exploring the concept’s evolution, its strategic importance, and the challenges faced by businesses in this domain. By analyzing secondary data from academic literature and credible sources, the study provides a comprehensive overview of the current state of green marketing in India. The findings highlight that the integration of green marketing practices not only enhances corporate competitiveness but also contributes to broader environmental goals. Nevertheless, the successful adoption of these strategies requires overcoming substantial barriers, including misconceptions about financial implications and the need for greater governmental support. The paper concludes that every incremental effort towards environmental sustainability can significantly impact the resolution of contemporary ecological challenges. As such, the incorporation of green marketing strategies represents a logical and necessary progression for companies aiming to achieve long-term sustainability and societal benefits. The promotion of green marketing, supported by governmental incentives, is essential for fostering a greener future for current and future generations.
Journal: The Journal of Corporate Governance, Insurance, and Risk Management (JCGIRM)
- Issue Year: 11/2024
- Issue No: 2
- Page Range: 98-112
- Page Count: 15
- Language: English
