The significance of green marketing in India can be described into four sectors like, for environment, consumers, producers, general public, and economies. Those factors can be explained below:
1. Environmental benefits
1. Environmental benefits
Many companies are adopting it by adding eco-friendly features in their products. For example case, classmate is a brand of ITC which sell the notebooks and other stationary products. The papers in classmate notebooks are free from chlorine, based on Rio convention. Even at the back side of the notebook, it is clearly mentioned that classmate uses eco-friendly and elemental chlorine free paper. Chlorine, in its artificial form, has played various environmental problems like depletion of global warming, ozone layer, acid rain. Thus, by making a change in a manufacturing process, this company has taken a wide step to protect the environment. In the similar way, many companies can protect the environment by adopting green marketing.
2. Consumers
Many companies are going green which benefits consumers as well. Consumers save more energy by opting green products. For example, Panasonic is one of those companies which have introduced many electronic appliances using the advance technology to minimize the consumption of energy. Voltas has a going green strategy by introducing many air conditioners with a ‘green’ range. In this way, going green by the companies not only benefit the environment but the consumers as well.
3. General Public
HCL has claims the first eco-friendly notebooks in India which is completely free from the harmful chemical, PVC (Polyvinyl Chloride), which harm the workers and the communities surrounded by the industries. This chemical is harmful for environment as it also contaminated the air, water and soil which again indirectly have harmful effect on the health. The health effect of using this chemical is birth defects, cancer, developmental delays, immune system abnormalities and diabetes.
By adopting green marketing, the usage of these kinds of harmful chemicals like PVC, mercury etc. can be minimized to the negligible. Thus, for the better health of the general public, companies should use green marketing and produce eco-friendly products.
4. Economies
Many consumers complain that green products cost very high. But actually, by buying the green products, they save their money indirectly in the long run. As described earlier, that many companies are using green concept and lowering down the consumption of energy resulting saving the money indirectly. MRF has launched the silica based rubber compounds tires to offer the fuel efficiency.
Many companies use recyclable packaging. Although it cost a little bit higher than the non-recyclable package but it indirectly reduce the cost of usage in the long run.
On the other hand, some companies are offering solar products like Solar power conditioning unit, solar inverters etc. Su-kam, is one of those companies. We can consume the natural resources and minimize the cost by using these solar products. The above are the ways describe how the green marketing is cost effective and easily effect on economies. Thus, the green marketing benefits can be observed in a long run but for this, we all have the responsibility to adopt it and bloom up with the new ideas to go green.
Challenges of Green Marketing
The things which have benefits must have challenges with it. The more benefits, the more challenges to adopt it. The green marketing has challenges to adopt in India because of the following reasons:
1. Lack of awareness
The first challenge is lack of awareness of green products among consumers which is the main challenge of green marketing. Even the examples which are quoted above may not be aware by many of the general public. Due to lack of awareness, the consumers may not be interested to consume green products. There is a need to aware them with the help of media. The awareness about how the products can be harmful for the environment and how could it be very useful for them need to be arise.
2. Encouragement
The consumers who are aware of the green products may not enthusiastic to purchase the green products. Again, the campaigns and the media are the tools which can enlighten a ray in masses and help to encourage them. The effect of using the green products may not be visible in short term but it can definitely have a long term effect on environment as a whole. The mirror of the future need to show to encourage them.
3. Lack of demand
There is a principle that consumer is the king in this era. It means that the companies have to focus on the demand of consumers. For this, they have to produce the product at a low price and available instantly. Thus, many small companies do not feel more profitable to go green.
4. Do not willing to pay for the premium
Recyclable material is comparatively expensive. But consumers do not want to pay premium for that. For example, many stores like big Bazaar, shopper stop etc offer jute bags or paper bags at a very low cost to carry the products. But people are not ready to pay for that.
5. Require huge investment on Research and Development
The companies has to spend a lot of money for the research and development as it involve the new concepts, new technology which ultimately increases the cost of the product. The biggest challenge some companies’ face that they do not want to spend a lot of time, money and effort in the R&D and adopt the idea to launch non green products.
6. Require huge investment on promotion
As many consumers are not aware of the green products and its importance, so, the company which is planning to adopt green marketing concept has to make huge investments in promotional activities to make the consumers aware and make them interested to buy the products.
7. Risk for the companies
Related to the risk for the companies, there is no 100% assurance that the product will grab the huge market, cover the cost and will make the profit if company promotes its product with the green marketing concept. So there will be more risk involved with it.
8. Long term process
This challenge related to the length of process. Although Green marketing is an old concept but due to lack of awareness it need time to accept the green products by the consumers. Thus, it is not a short term process and the company has to face this fact to be in the market with green marketing concept.
According to all significance and challenges of green marketing described above, can be concluded that this is not only the responsibility of firms to adopt green marketing but the consumers should also take some steps to reduce the environmental impact as firms are willing to produce those products which the consumers demand highly. There are lots of consumers who are not willing to pay the premium and do not want to change their lifestyle for it. So, there is a combined responsibility of firms and consumers to reduce the environmental degradation from their activities.
2. Consumers
Many companies are going green which benefits consumers as well. Consumers save more energy by opting green products. For example, Panasonic is one of those companies which have introduced many electronic appliances using the advance technology to minimize the consumption of energy. Voltas has a going green strategy by introducing many air conditioners with a ‘green’ range. In this way, going green by the companies not only benefit the environment but the consumers as well.
3. General Public
HCL has claims the first eco-friendly notebooks in India which is completely free from the harmful chemical, PVC (Polyvinyl Chloride), which harm the workers and the communities surrounded by the industries. This chemical is harmful for environment as it also contaminated the air, water and soil which again indirectly have harmful effect on the health. The health effect of using this chemical is birth defects, cancer, developmental delays, immune system abnormalities and diabetes.
By adopting green marketing, the usage of these kinds of harmful chemicals like PVC, mercury etc. can be minimized to the negligible. Thus, for the better health of the general public, companies should use green marketing and produce eco-friendly products.
4. Economies
Many consumers complain that green products cost very high. But actually, by buying the green products, they save their money indirectly in the long run. As described earlier, that many companies are using green concept and lowering down the consumption of energy resulting saving the money indirectly. MRF has launched the silica based rubber compounds tires to offer the fuel efficiency.
Many companies use recyclable packaging. Although it cost a little bit higher than the non-recyclable package but it indirectly reduce the cost of usage in the long run.
On the other hand, some companies are offering solar products like Solar power conditioning unit, solar inverters etc. Su-kam, is one of those companies. We can consume the natural resources and minimize the cost by using these solar products. The above are the ways describe how the green marketing is cost effective and easily effect on economies. Thus, the green marketing benefits can be observed in a long run but for this, we all have the responsibility to adopt it and bloom up with the new ideas to go green.
Challenges of Green Marketing
The things which have benefits must have challenges with it. The more benefits, the more challenges to adopt it. The green marketing has challenges to adopt in India because of the following reasons:
1. Lack of awareness
The first challenge is lack of awareness of green products among consumers which is the main challenge of green marketing. Even the examples which are quoted above may not be aware by many of the general public. Due to lack of awareness, the consumers may not be interested to consume green products. There is a need to aware them with the help of media. The awareness about how the products can be harmful for the environment and how could it be very useful for them need to be arise.
2. Encouragement
The consumers who are aware of the green products may not enthusiastic to purchase the green products. Again, the campaigns and the media are the tools which can enlighten a ray in masses and help to encourage them. The effect of using the green products may not be visible in short term but it can definitely have a long term effect on environment as a whole. The mirror of the future need to show to encourage them.
3. Lack of demand
There is a principle that consumer is the king in this era. It means that the companies have to focus on the demand of consumers. For this, they have to produce the product at a low price and available instantly. Thus, many small companies do not feel more profitable to go green.
4. Do not willing to pay for the premium
Recyclable material is comparatively expensive. But consumers do not want to pay premium for that. For example, many stores like big Bazaar, shopper stop etc offer jute bags or paper bags at a very low cost to carry the products. But people are not ready to pay for that.
5. Require huge investment on Research and Development
The companies has to spend a lot of money for the research and development as it involve the new concepts, new technology which ultimately increases the cost of the product. The biggest challenge some companies’ face that they do not want to spend a lot of time, money and effort in the R&D and adopt the idea to launch non green products.
6. Require huge investment on promotion
As many consumers are not aware of the green products and its importance, so, the company which is planning to adopt green marketing concept has to make huge investments in promotional activities to make the consumers aware and make them interested to buy the products.
7. Risk for the companies
Related to the risk for the companies, there is no 100% assurance that the product will grab the huge market, cover the cost and will make the profit if company promotes its product with the green marketing concept. So there will be more risk involved with it.
8. Long term process
This challenge related to the length of process. Although Green marketing is an old concept but due to lack of awareness it need time to accept the green products by the consumers. Thus, it is not a short term process and the company has to face this fact to be in the market with green marketing concept.
According to all significance and challenges of green marketing described above, can be concluded that this is not only the responsibility of firms to adopt green marketing but the consumers should also take some steps to reduce the environmental impact as firms are willing to produce those products which the consumers demand highly. There are lots of consumers who are not willing to pay the premium and do not want to change their lifestyle for it. So, there is a combined responsibility of firms and consumers to reduce the environmental degradation from their activities.