Vol. 4, Issue 1 (2019)
Green Marketing: Proactive & innovative tool of CSR to gain competitive excellence
Author(s): Naman Surana, Jayant Agrawal, Shaswath N Jain, Tanishq Nahar
Abstract: Purpose: In the recent times the business marketplace is moving closer towards being a comprehensive social experience, the onus falls upon brands to be more defined in terms of what they stand for, their core values and how they communicate them to their community of customers. Not only this, stakeholders demand these brands to be eco-friendlier even if they are higher in price. Thus, the businesses operate in ever-changing environment be it economically or ecologically, the purpose of this paper would be to investigate how green marketing strategies is being used as an effective tool of corporate social responsibility in order to get economic, social as well as ecological sustainability. Design: This conceptual paper has been designed to discuss about the concept of green marketing strategies, and how it could be used as an effective tool for CSR to gain the competitive advantage. It also includes that how diffusion of innovation theory can be related to green marketing in a new way. This paper begins with the literature review of corporate social responsibility and green marketing strategies and it also adds value to the paper by including the innovation theory to address the gap in the literature. Then the paper discusses about the various strategies which a business could employ in order to act to the changes in the external environment. The businesses can use both reactive as well as proactive approach in order to addresses the external demands. This paper is then discussing about the degrees of innovation required while employing the different strategies and also throws light on the diffusion theory and develops the propositions. Then, a new model is presented on green marketing innovation strategies and competitive advantage. Next, a conceptual analysis is presented using a diffusion of innovation characteristics framework to show relationships of the innovation characteristics with proactive green marketing strategies and competitive advantage. Findings: This paper has developed a total of six propositions which are developed to reflect the relationship of green marketing strategies with types of innovations and competitive advantage. In addition, a conceptual analysis found seven areas of proactive green marketing strategies related to the diffusion of innovation characteristics. Also, this paper has proven that green marketing strategies can be used as an effective tool for CSR due to the concerns of consumers towards the environment. Findings also showed diffusion characteristics are associated with 11 key benefits of sustainable green marketing competitive advantage. Research limitations/implications: This paper also discusses about the limitations of this research. There is still a corner to be filled in this field and lot of research needs to be done. In addition, the paper also includes some of the managerial implications which can be used effectively. Additionally, this paper proposes suggestions identified with dissemination of development attributes in future research.