A Study of Sustainable Marketing Practices Implemented by Business Organizations in FMCG Sector in India

Author Reg. ID: TIJER_150793

Published Paper Id: TIJER2302103

Published In: Volume 10 Issue 2, February-2023

Abstract: Many people use the term "sustainability" to refer to a system's capacity to keep itself operating and in good repair indefinitely. If we want to ensure that future generations are able to fulfil their own potential, progress must be able to provide for the requirements of the present without jeopardizing that potential. "The activity of producing, conveying, and providing value to clients in a manner that conserves or improves both natural and human capital" is the definition of sustainable marketing. Sustainable marketing considers the environment, society, and the economy. Marketing in a sustainable way is an inward-looking function of the firm that checks to see that all its internal operations are safe for people and the planet. Sustainable marketing, secondly, refers to marketing sustainability as an external function, with the goal of creating a culture in which environmental responsibility is the norm. This research endeavours to identify effective sustainable marketing procedures crucial to long-term success. The fast-moving consumer goods industry was chosen since it is one of the country's top four economic drivers. Their prospects for success depend on their ability to adapt to the dynamic business environment. Fast Moving Consumer Goods (FMCG) bridge the gap between raw material suppliers, factories, distribution centres, retail outlets, and consumers. They serve as a connecting link for the overall economic system. Incorporating sustainable marketing methods into every step of the value chain is possible. The purpose of this research is to ascertain the view held by FMCG corporations. Do companies in the fast-moving consumer goods (FMCG) industry care about the state of the environment, society, and the economy? Do they believe that enhancing competitive advantage is possible via the use of sustainable marketing practices? Do customers develop a more favourable impression of the company if it implements sustainable marketing practices? In order to formulate three hypotheses, a comprehensive literature study was conducted. Primary information was gathered by administering a questionnaire and conducting a semi-structured interview with senior marketing experts in the field. The data analysis and conclusion drawing were performed using the concurrent triangulation approach. Parametric tests were used to examine the validity of the hypotheses. Those working in fast-moving consumer goods (FMCG) feel that in a world with limited resources, sustainability and sustainable marketing strategies are the only hope for the planet's long-term viability. No matter how much money they made, all these businesses proved they were serious about sustainability. The groups have taken up community improvement projects out of the goodness of their hearts.

Keywords: Sustainable Marketing, Fast-Moving Consumer Goods (FMCG), Consumer Package Goods (CPG), Marketing Practices, Innovation

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Page No: 824-835

Country: -, -, India

Research Area: Science and Technology

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