Marketing Strategies for Socially Responsible Products-Company Brand Name and Market Scenario: An Industry Cross-Sectional Study

Abstract

Corporate social responsibility (CSR) is a subject which has been talked in detail globally and in India also implemented with all seriousness by certain companies working in different sector of national economy. The growing realisation about the fast degradation in the eco-system causing extremely dangerous consequences to the living organisms on the earth planet has resulted into serious efforts to shift to the mass production of socially responsible consumer products, which are eco-friendly, bio-degradable and can be recycled easily. Although this is a daunting task, it has to be promoted, protected and patronised by the state all through the production to marketing stages. The present investigation is a modest attempt to find out that how the company's brand name and the prevailing market scenario impact their marketing strategies for socially responsible products. Marketing strategies of 24 companies for their socially responsible products, cutting across different sectors of national economy and broadly operating in five diverse fields, were studied for the purpose of this investigation. A standard research questionnaire was used to capture the responses of the marketing executives and other personnel on various dimensions of marketing of their socially responsible products. The findings of the study are likely to make organizations concerned to revisit their marketing strategies accordingly. The authors also made certain suggestions and recommendations for consideration by the concerned stakeholders.