Page 27 - Banking Finance October 2024

ARTICLE

The Role of

Sustainable

Marketing in Modern

Aniket Santosh Kirtiwar
Business Practices Certified Climate Risk & Sustainable Finance

(Indian Institute of Banking & Finance).
Certificate in Green Finance from Chartered
Banker Institute, Associate Member of
Association of certified Fraud Examiner (ACFE).

The landscape of business is evolving with a growing emphasis on sustainability. Sustainable
marketing, which integrates environmental and social responsibility into business practices, is
gaining traction as a critical approach for companies aiming to align with the values of modern
consumers.

Abstract:
This paper explores the principles, strategies, and benefits of sustainable marketing, emphasizing its importance in
contemporary business practices. As environmental and social concerns rise to prominence, businesses are increasingly
adopting sustainable marketing strategies to meet consumer expectations and regulatory requirements. This manuscript
delves into the core principles of sustainable marketing, effective implementation strategies, and the myriad benefits
that it offers, while also addressing the challenges and future directions of the field.

Introduction services based on their environmental and social benefits.
The landscape of business is evolving with a growing Unlike traditional marketing, sustainable marketing
emphasis on sustainability. Sustainable marketing, which considers the long-term impacts of business activities,
integrates environmental and social responsibility into aligning with the broader concept of sustainability, which
business practices, is gaining traction as a critical seeks to meet present needs without compromising future
approach for companies aiming to align with the values generations.
of modern consumers. This manuscript investigates the
essential aspects of sustainable marketing, presenting a Core Principles
comprehensive analysis of its implementation and impact 1. Environmental Responsibility: Ensuring marketing
on business practices. practices do not harm the environment through eco-
friendly materials, waste reduction, and minimal
Understanding Sustainable Marketing carbon footprints.
Definition and Importance 2. Social Equity: Promoting fair labor practices,
Sustainable marketing is the promotion of products and community development, and human rights.

24 | 2024 | OCTOBER | BANKING FINANCE