What is Environmental Marketing?
Environmental marketing otherwise known as green marketing is the marketing of products that are presumed to be environmentally preferable to others. Environmental issues have importance in business and in public life throughout the world. Citizens of our country and in the world are concerned about the threat of global warming. So with the global concern, corporate communities have taken green-marketing as a part of their strategy to promote products by employing environmental rights either about their attributes or about the systems, policies and processes of the firms that manufacture or sell them. Clearly green marketing is part and parcel of overall corporate strategy; along with manipulating the traditional marketing mix (product, price, promotion and place), it requires an understanding of public policy process. So we can say green marketing covers a broad range of activities. Different writers have given different definition about green marketing which tried to cover all major components of green marketing. According to Polansky (1994)- green or environmental marketing consists of all activities, designed to generate and facilitate any exchange indented to satisfy human needs and wants, such that the satisfaction of these needs and wants occur with minimum detrimental impact on the natural environment.
Importance of Green Marketing
Since early 1990s, a major concern on ecological impact of industrial house on environment has been surfaced on marketplace. Not only the relation between human, organization and natural environment being redefined, but the implication thereof are being interpreted; because of these, new perceptions are being formed or re-evaluated on issues like environmental friendly products, recycle ability, waste-reduction, the cost associated with pollution and the price value relationship of environmentalism. Pressure from various stakeholders, Govt., environmentalists, NGOs, consumers is placed on businesses, which in turn keeps them under constant and relentless watch in their daily operations. A direct result can be seen in developed and developing countries where to. became stricter in imposing regulations to protect environment; at the same time, the consumers of these countries are being more and more outspoken regarding their needs for environmentally friendly products, even though questions remain on their willingness to pay a higher premium for such products! So in this era where consumers determine the fate of a company, green marketing imparts a proactive strategy for these companies to cater the market by imparting nature-friendly products/ services which otherwise reduce or minimize any detrimental impact on environment....