GREEN MARKETING - AN ANALYSIS OF CONSUMER BEHAVIOUR TOWARDS GREEN PRODUCTS

GREEN MARKETING - AN ANALYSIS OF CONSUMER BEHAVIOUR TOWARDS GREEN PRODUCTS

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  AN ANALYSIS OFCONSUMER BEHAVIOR TOWARDS GREEN PRODUCTS
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  WHAT IS GREENMARKETING ?
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  WHAT IS AGREEN PRODUCT ?
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  WHY ARE FIRMSGOING GREEN ?
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  • Macdonald’s have stopped packaging their hamburgers etc in polystyrene containers and now use cardboards which comes from a renewable resource and is biodegradable or recyclable . Hotels around the world are turning eco- friendly by the use of herbal toiletries, stationery from recycled paper, “no-smoking” rooms, less detergents and wasting less water, spending on gardens and orchards.
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  The production processis compatible with ecosystem It is compatible with goals of the company It satisfies the consumers
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  Eco label isan environmental claim that appears on the packaging of a product, making it easy for the consumers to take environmental concerns into account when shopping. It is awarded to a manufacturer by an appropriate authority. ISO 14020 is a guide to the award of Eco-labels. The government of India launched an Eco-mark Scheme in 1991 to encourage the customers to purchase those products which have less harmful environmental impact.
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  THE 4 GREENP’s 1. Green Product : Attributes such as energy saving, organic etc. that leads to reduction in resource consumption and pollution. 2. Green Price : Most consumers will pay additional value if there is a perception of extra product value . 3. Green Place : Aiming to reduce carbon footprint by way of managing logistics to cut down transport emanations. 4. Green Promotion : To address the relationship between a product and the environment, to promote green life style, and to present a corporate image of environmental responsibility.
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  CONSUMER DEMOGRAPHIC (Age, Gender, Income, Ed ucation) ELEMENTS OF GREEN MARKETING Product PURCHASE Price DECISION Place Promotion
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  RESEARCH METHODOLOGY • ResearchObjective : To investigate the factors that influence consumers’ choice of eco-friendly products over conventional products & To find out the relation between consumers’ attitude and perception towards green marketing w.r.t price sensitivity and quality.
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  • Sample Size,Sample Unit and Sample Design : 150 respondents, Age Group of 25-30 years, Convenience Sampling. • Sources of Data : Both Primary and Secondary Data. Primary data has been collected through a structured questionnaire and personal interviews and observation.
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  56 % respondentshave ever purchased a green product, 44 % have not purchased yet and 75 % of this 44 % respondents who are yet to purchase green products may buy it in the future. 28 % respondents always prefer buying green products over traditional products, 20 % respondents frequently buy green products over traditional products, 8 % sometimes buy green products over traditional products whereas 44 % respondents never buy green products over traditional products. Only 35.33 % respondents are willing to pay premium to purchase green products.
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  Regarding familiarity withgreen products, 24.44 % of respondents have come to know about green products through magazines, 22.22 % through newspapers, 15.56 % have come across green products on the internet and 12.22 % have been acquainted with it in store. Surprisingly, the role of electronic media (TV and Radio) is negligible in creating familiarity to green products (6.67 % and 11.11 % respectively).
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  89.29 % ofgreen product users are willing to recommend green products to others, 9.09 % of respondents would like recommending green products , though they themselves have not yet used, on account of factors like environment protection responsibility, safe for health etc. The rest finds green products not worthy of recommendation due to a host of factors like costlier, not much difference in performance or quality, customers are cheated by companies in the name of green products etc. Quality of the product is the top most priority factor, then price, place and promotion respectively in influencing the purchase of green product.
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  Quality and Certificationare the two considerable variables (since got same rank with same probability) while purchasing green products. It is also clear that price is not at all a considerable variable for selection of green products, rather, being “eco-friendly” and “good for health” are much more important. 37.73 % respondents are in favor of saving utility bills and so prefer paying premium for green products, 18.86 % respondents prefer paying premium because green features are eco-friendly, 15.09% respondents are ready to pay premium as they feel responsible towards protecting the environment.
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  CONCLUSION • Consumer Behaviorplays a major role in the choice of green products. • The marketers of green products / services need to be more innovative and dynamic to compete with the changing purchase behavior among customers. • The study brought out the fact that the people are considerably well aware of green products, but not loyal entirely towards it due to a host of factors like expensive, not much difference when compared to traditional products in terms of performance and quality, commercials being perceived as gimmick only, etc.
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  CONCLUSION CONTD… CONCLUSION • To attract customers more towards green products, the marketers must create promotions which are both realistic and have moral values and the product availability in terms of volume and variety are also important. • Business organizations should start following green marketing strategies as it offers incentives and growth opportunities in the long term, though it may involve huge start-up costs.
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   Either FoldIt Or Let It Be Unfold  Just Going Green Is Not Enough, Be Transparent  Know Your Consumers  Empower Your Consumers  One Size Doesn’t Fit All  Make Yourself Audible To The Consumers  Mull Over Pricing  Selecting The Right Name  Take Advantage Of Govt. Regulation That Mandates Behavior Change
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  ~ Tanusree Bhowmick& Subhojit Chakraborty Astt. Prof, DSMS GROUP OF INSTITUTIONS DURGAPUR