Green marketing strategies in developing and developed markets

Abstract

In a globalized world, environmental sustainability has become a critical focus for businesses. Green marketing is a comprehensive approach that communicates a company's commitment to minimizing environmental harm through the production, marketing, consumption, and disposal of products and services. With increasing awareness of issues like global warming, non-biodegradable waste, and pollution, both marketers and consumers are becoming more conscious of the demand for eco-friendly products and services. However, since the corporate world focuses on profit, many companies may use green marketing mainly as a way to boost their earnings.

This master’s thesis delves into the realm of green marketing strategies employed in both developing and developed markets, focusing on Sri Lanka and Vietnam as representatives of developing nations, and Finland and Sweden as developed nations. This study not only unveils the present state of green marketing in developing and developed markets but also seeks to identify any notable differences in approach, additionally by understanding the unique challenges and opportunities in each market, the research aims to provide insights into how companies from different countries can gain insights from one another’s experiences and contribute to the global green marketing discourse.

This master’s thesis will apply the fundamental elements of marketing, commonly referred to as (i) the four P’s – Product, Price, Place, and Promotions, (ii) Institutional theory. Ultimately, this study provides a comprehensive overview of green marketing strategies, offering valuable perspectives for businesses striving to achieve environmental sustainability. The insights gained can help shape future marketing practices that align with global green marketing goals.