Sustainable Marketing in India: Addressing Challenges and Harnessing Opportunities for Business Growth
Keywords:
Brand image, Consumer loyalty, Marketing Strategies, Sustainable marketing, Sustainability challengesAbstract
In today’s dynamic and environmentally sensitive business environment where businesses strive to balance their profit with people and the planet, the sustainable marketing concept has come into force. This research study examines the sustainable marketing field, the prospects sustainability principles have for marketers, and the challenges they face. The research begin with the descriptive analysis of organizations following a sustainable marketing approach, the various challenges marketers face when planning sustainable marketing initiatives (changing consumer behaviour, managing supply chain complexities, and managing regulatory constraints), also which one is the most impactful challenge out of all, The study also shows the most effective perceived sustainable marketing strategies to overcome the challenges faced by the marketers, moreover impact of sustainable marketing on the brand reputation and consumer brand loyalty. Information from 160 sustainability champions was collected using the purposive cum snowball sampling technique but after data sorting and cleaning only 141 sampling units found to be making sense as per the objective of the study and thereby finally 141 samples are taken forward for the further analysis. Google Forms was used in conjunction with the questionnaire to gather primary data. MS Excel was used to conduct the analysis. The current study has practical applications that can be leveraged by the business organizations to become aware of possible challenges that may come across as well the most impactful strategies in context of sustainable marketing, moreover the study gives recommendations for future scope of research thereby contributing significantly to the existing literature of sustainable marketing.
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