Green Marketing: A Driver for Green Brand Equity and Sustainable Development

Abstract

Green marketing has recently caught the attention of policy makers wherein research is focused to discover the new techniques and processes to be used in designing environmentally safe products and services. This article gives a basic conceptual framework of green marketing as a driver to sustainable development and green brand equity. The emphasis is given on the need and importance of green marketing for sustainability in the present domain. The article discusses the model, which explains the various variables which are responsible for the green brand equity and sustainable development like green products, eco-brands, eco-labels and eco-advertisement. The sustainable development is achieved through the mutual combination of the economic, community and environmental developments. These variables lead to better business performance and also address the various eco-concerns including ozone safety, energy efficient operations, better pollution control measures, organic and ecologically safe products, health safety, recyclable and biodegradable packaging and integrated waste management. Besides, the framework also explains the influence of the business environment on the various variables used in it. Finally the article studies the critical review involving various initiatives towards green marketing taken by some Indian and foreign companies.