Green Marketing: A Full-Fledged Holistic Marketing Strategy for Organisations

Abstract

The idea of marketing is second to none. It necessitates constant results analyses as well as ongoing research. Threats might appear overnight in the extremely volatile business climate; a competitor may develop superior items at lower prices or may gain a bigger market share. Government regulations could alter, foreign exchange rate variations could have an impact on component imports and exports, or consumer preferences could shift. These possibilities and threats must be recognized in advance, and quick-acting countermeasures must be used. Such problems have sparked innovation in marketing tactics as well; green marketing is one such strategy that has just come to market. The ecological or green marketing is an approach which aims to create an image in the minds of consumers that the firm is an eco-friendly concern, focusing on preservation of environment and offering such products. The production process and packing material along with product features are all environment-friendly. Sustainable marketing is also a concept that highlights the sustainability of production processes in the long run and not only in promotional activities.

A holistic marketing strategy is a broad course of action that considers client needs while developing product specifications, pricing, positioning, sales promotion, and logistics. It aims at systematic and scientific implementation of all the elements of marketing mix in a coordinated matter. The result is coordinated product placement in the market, which lowers the likelihood of failure and increases market share. In order to effectively address the difficulties and risks presented by the marketing environment, holistic marketing necessitates a scientific examination of all activities, their interconnectedness, and the order in which they should be implemented. This is dependent on a number of factors like nature of product, its features, price, durability, elasticity of demand, availability of alternate goods and buyer readiness for the same. Thus, in this module we have analyzed contemporary innovations in marketing which require deeper understanding of the quality of processes involved in manufacturing and ultimate goal is to generate competitive advantage in the market.