Natural resources are getting depleted or even extinct. The Earth is warming up due to global warming. Biodiversity is to be protected. Of late the governments, consumers, individuals and the non-governmental organisations have become more aware and interested in ecological environment issues.
This has led to an increased demand for environmental friendly products. Previously the price often determined if a customer would buy a product or not. The other aspect is that the NGOs are having a check over businesses to see that they do not indulge into polluting the environment – land, air, water, acoustic; and not unduly depleting the world non-renewable resources.
There are several pressure groups – Customers, Green Pressure groups, Employees, the legislation, media and financial institutions. Customers may be ‘green activists’ (members of environmental groups and environment-conscious), ‘green thinkers’ (buying on the basis of environmental friendliness from green firms), ‘green customers’ (normally buying green products except price consideration), and ‘generally concerned’ (though concerned but not buying green).
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Many firms have used brand to look green. BP has repositioned the corporate brand around a tagline, ‘Beyond Petroleum” (commitment to environment through newer solutions); Toyota’s brand Prius has become hybrid; and Korean firm LG has modified its tagline to “Life’s Good When It’s Green” (focussing on reducing hazardous substances, recycling and developing take-back programmes)Many companies find ecological concerns as an opportunity.
German firms are asking their consumers to return the packaging material back to the retailer wherefrom the commodities were purchased. Hindustan Unilever has developed detergent which does not require much water for washing clothes. Some of the entrepreneurs are using elephant dung to prepare paper at Jaipur. Recycling is even otherwise is very popular in India because of cost consideration.