In today's increasingly eco-conscious world, businesses are under mounting pressure to adopt sustainable practices. As consumers become more aware of environmental issues, they are demanding products and services that align with their values. This shift in consumer behavior has given rise to the concept of green marketing, which focuses on promoting environmentally friendly products and practices.
Green marketing refers to the practice of promoting products or services that are environmentally friendly or sustainable. It involves incorporating eco-friendly elements into various aspects of marketing strategies, including product development, packaging, advertising, and distribution. The goal of green marketing is to appeal to environmentally conscious consumers by highlighting the positive environmental attributes of a product or service, such as energy efficiency, recyclability, use of renewable materials, or reduced carbon footprint. Green marketing aims to encourage consumers to make environmentally responsible purchasing decisions while also promoting sustainability and corporate social responsibility initiatives. Companies that invest in green marketing benefit from increased customer loyalty and a positive brand reputation, while also helping protect the planet and contributing to a more sustainable future.
Evolution of green marketing
The evolution of green marketing can be delineated into three distinct phases-ecological, environmental and sustainable, each representing a significant shift in focus and approach. Initially, there was the ecological phase, followed by the environmental phase, and finally, the sustainable phase emerged as the latest stage in this progression.
(i) The Ecological Phase Timeframe: Late 1960s to early 1980s
Focus: Pollution reduction and resource conservation
Characteristics:
Bu hikaye BANKING FINANCE dergisinin November 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BANKING FINANCE dergisinin November 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Combating Cyber Threats in Banking: Prevention, Detection, and Response Mechanisms
In the digital age, the Banking sector has undergone a remarkable transformation, leveraging technology to offer seamless and efficient services to customers across the globe.
Creating a Winning Sales Pitch for SIPs and Mutual Fund Products
In the competitive world of financial services, effectively communicating the value of Systematic Investment Plans (SIPs) and mutual fund products is crucial for success.
Banking in the Era of "Data Privacy": Impact of Digital Personal Data Protection Act (DPDPA) on the Banking Industry
In modern world, data is a valuable asset which helps in the revenue generation process of a company/organization.
Opportunities and Risk for Traditional Banks in Embracing Open Banking
Technology has simplified our lives by making the processes easier and integrating into our daily routines.
RBI CIRCULAR
Coverage of customers under the nomination facility
Decoding Financial Crime of Money Laundering
This article is about the definition & concept of financial crime of money laundering.
The Future of Mutual Funds in the Digital Era: Trends and Challenges
The mutual fund industry has witnessed a significant transformation over the past decade, driven by rapid advancements in technology and the proliferation of digital platforms.
Future of BankingBlockchain Technology
Blockchain banking is a new technology in India, but it's gaining traction due to its worldwide success in finance and other sectors.
Legal News
SC: Parents Can Be Legally Compelled to Provide Education Money to Daughter
Economic Value of Equity (EVE) Demystified
In the realm of finance and economics, the concept of equity plays a pivotal role in assessing the health and potential of businesses, projects, and investments.
