Page 45 - Banking Finance August 2024

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commitment and promotion, these products will attract end save natural resources as well as reduce the wastage
users who care about nature, earth or the environment. and make them more ecofriendly.
Eco Friendly Products - The product is not having
Green marketing is also known as sustainable marketing or negative impact or lesser impact on nature and it can
environmental marketing. This means green marketing be recycled.
promotes sustainable and environmentally friendly products
and services. It includes all of a company's marketing Eco Friendly Packaging - Uses of less packing materials
or eco-friendly materials which can be sustainable
activities that aims to create a positive impact or reduce
the negative impact of its products on the environment. packaging is called eco-friendly packaging. The
materials are recyclable or biodegradable.

Green marketing is a few step ahead of traditional Regulatory compliance - All around the world, the
marketing. As we noticed earlier that the common principal government is enforcing tougher environmental rules
of marketing is having 5 Ps whereas on addition of two more and regulations and business houses has to comply with
principles the green marketing is having 7 Ps. them. This will not only help them to avoid legal issues
but also branding their products and services in public
7Ps of Marketing under Green Marketing domain.
1. Price ¢ Long Term Sustainability - Eco friendly practices have
2. Product many benefits. it will not only help for sustainability of
business but also help sustainability of planet.
3. Promotion
4. Position Green Marketing Initiative by some
5. Target Market People
corporate Houses in India:
6. People Community We all know the brand "Starbucks Coffee".This company has
7. Planet taken a big step in this direction and completely eliminated
plastic straws.In its green store initiative, the company commits
Thus, we observe that green marketing is inclusive of people using 30% less water and 25% less energy, thereby taking a
communities and planet along with main principles of step towards environmental friendly products and services.
marketing.
TATA is famous for its natural approach.Electric vehicle
Goal of Green marketing manufacturing by TATA Motors, contribution to solar and
wind energy production by TATA Solar, environment-friendly
The green marketing has
fertilizer production by TATA Chemicals are some of the
Eco Friendly Process - It means that in the production
initiatives . TATA Group stands out as a leading company in
process some modification initiated, and it causes to
India that is adopting green marketing practices across many
sectors and thus serves as an inspiration for others to initiate
such moves. There was even a Facebook campaign by the
TATA group to encourage people to plant trees.

Another major company, Adani Green Energy, recently
announced that it will invest around 2 lakh crore, which will
enable the company to increase its renewable energy
portfolio to 45 GW by 2030. Currently the company's total
renewable energy portfolio is about 10.90 GW. It is
pertinent to mention here that the Khavda unit of Adani
Green Energy is the world's largest renewable energy park.
Another arm of the Adani Group, Adani New Industries Ltd
(ANIL), which makes solar and wind energy equipment, is

40 | 2024 | AUGUST | BANKING FINANCE