In this era of globalization, corporate responsibility is no longer merely about local labor issues, pollution control, or energy efficiency. Sustainable businesses are those that are helping find global solutions to our most pressing environmental and social issues.
Green products don't work well and consumers won't pay a premium for them _ is an old saying. But most of the companies today believe that investing in environmentally preferable products and technologies can be a source of innovation and competitive advantage. The success of companies practicing `green marketing' has drawn the attention of corporates, policy-makers and, more importantly, consumers. Green marketing is the recent buzzword ruling the corporate world. In today's context of global warming, climate change and environmental pollution, this concept has evolved as a savior for the mankind.
Green marketing is environment-friendly, sustainable and socially responsible marketing. According to American Marketing Association (AMA), "Green or Environmental Marketing consists of all activities designed to generate and facilitate any exchanges intended to satisfy human needs or wants, such that the satisfaction of these needs and wants occurs, with minimal detrimental impact on the natural environment".
Many people have attempted to define the term "green marketing". It is sometimes used as a synonym to `environmental marketing' and `ecological marketing. Jacquelyn A Ottman, author of "Green Marketing: Opportunity for Innovation", defines green marketing as environmental considerations integrated in all aspects of marketing. Michael J Polonsky, author of the books on environment and green marketing, defines the term as "All activities designed to generate and facilitate any exchange intended to satisfy human needs or wants such that satisfying of these needs and wants occur with minimal detrimental input on the national environment"..