Sustainable Marketing: Issues, Challenges, and Lessons to be Learned

SUSTAINABLE MARKETING: ISSUES, CHALLENGES, AND LESSONS TO BE LEARNED
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Sustainable Marketing: Issues, Challenges, and Lessons to be Learned
1.0 Introduction
The world experiences unprecedented population growth alongside technological advancements in the form of the Industrial Revolution (Dyck and Manchanda, 2021). Such progress and developments as experienced necessitate mass production that influences economic growth and increase in consumption levels. However, the occurrence of such changes has been costly in terms of climate change, loss of biodiversity, and depletion of natural resources (Kemper et al., 2019). Consequently, consumers show much concern about the environmental and social impact of the various products they consume, increasing demand for ‘green’ products. Despite such a call for green products, a few consumers are willing to cater for extra costs on green products (Reich and Soule, 2016). However, consumer expectation is that companies should be socially responsible and consider being environment friendly, therefore, adhering to the legal regulations. The various unethical business behaviours and practices make consumers boycott the various company products. Further, marketers are confronted with unsustainable consumer behaviour, therefore, tasked with the responsibility of leading consumers towards a more sustainable consumption (Engelland and Engelland, 2016).
The individual concepts of marketing and sustainability have evolved over time as forces that influence strategy, competitiveness, and innovation (Lusch, 2017). Sustainability is one of the key issues in the current world, which focuses on preserving resources across the globe. The rampant consumption of the earth’s resources is a world issue, with communities assuming the responsibility alongside the business corporations. There are many definitions of sustainability, with most of the definitions pointing to the ability of the system to replenish itself perpetually.
Marketing, in this case, assumes the key role of promoting various development aspects globally and ensures an uplift in living standards (Gossen et al., 2019). This shows that marketing provides a key resource that supports and propagates sustainable thinking. The marketing concept has an eminent footprint in the environment as well as the society at large. Notwithstanding, Ramboarisata and Gendron (2019) consider marketing as a means that anchors sustainability and help in creating awareness on the importance of preserving earth’s ecosystems, hereby defined as Sustainable Marketing.
The solution to the various sustainable marketing challenges cannot be ensured through conventional marketing means. Therefore, this calls for a change in traditional marketing practices (Trivedi et al., 2018). In this case, sustainable marketing focuses on sustainable development and provides marketers with a holistic approach that ensures products and companies are more sustainable to meet future challenges besides appealing to current consumer needs.
1.2 Problem Statement
The aspect of sustainability has been discussed over the years, with the background of sustainable marketing focusing on its relatedness to social and green marketing (Kortam and Mahrous, 2020). The current major issues and responsibility for individuals and organizations focus on the maintenance of the earth’s ecosystem. In this case, the companies are responsible for demonstrating their strategy towards the preservation of the environment and the community’s social responsibility. Besides linking to the branding, such actions should have the capability of resource preservation for the next generations alongside creating education and awareness (Mancuso et al., 2021). Despite elaborate contribution towards economic growth, the marketing aspect also attracts an equal measure of criticism. Customers continue to raise numerous reservations concerning the functioning of marketing, with marketing representatives being accused of causing harm to consumers by imposing high pricing on goods and services that ultimately affect ultimate costs (Su et al., 2022). The nature of the marketing message used may be responsible for environmental degradation as well as trivializing the social environment through cultural misrepresentation.
1.3 Research Objective
The study objective will be to assess the effect of Sustainable Marketing on company performance.
1.4 Research question
How do sustainable marketing influence company performance and consumer behaviour?
What are the benefits and challenges of sustainable marketing?
1.5 Significance of the study
Sustainability is key in how the corporate world focuses on issues such as the preservation of the environment and communities. The impact of company actions on the environment easily influences an organization’s brand and customer behaviour.
2.1 Theoretical Framework
This section will focus on presenting the models that anchor this study, theoretical and empirical literature. The literature also covers the foundations of sustainable marketing and its approach to companies and the community.
The consumer behaviour theory
Consumer behaviour refers to the various experiences alongside activities that people engage in, including purchasing, applying, and disposing of goods and services (Wang et al., 2016). In this case, social and psychological needs motivate consumer behaviour, influenced by both internal and external forces (Hoffman, 2018). Consumers are inclined to recognize the need for sustainable social alongside environmental systems. The nature of awareness amongst consumers encourages the purchase and use of ecologically sound products that pose less harm to the environment. Consumers make purchase decisions based on environmental compatibility besides price, quality, and convenience (Nishitani and Kokubu, 2020.).
Therefore, it makes it crucial for marketers to influence customer behaviours since sustainability demands a change in habits and customer behaviour. Such a practice demands a significant effort from marketers, stakeholders, and customers who happen to be considerate in the event that their lifestyles change or are sacrificed a lot (Hoffman, 2018). In this case, the provision of ethical products and services helps in changing consumer behaviour.
A study by Hall (2019) asserts that...