Linking marketing imperfections to sustainable entrepreneurial prospects and sustainability: the case of Indian medicinal and aromatic plants businesses

Abstract

Purpose Drawing on the extant literature that suggests marketing imperfections are an opportunity to create and establish a foundation for sustainable entrepreneurial prospects and sustainability, this study aims to delineate a marketing mix strategy for Indian medicinal and aromatic plant (MAP) resources to optimize the benefits derived from their existing MAP business and address its marketing imperfections. Design/methodology/approach A case study research design was used to investigate the MAP sector, and 37 in-depth interviews were conducted to collect the primary data. Given the study’s exploratory nature, an inductive approach was used for data analysis, and conventional qualitative content analysis was performed to analyze the data. Findings The findings reveal that a marketing mix strategy is relevant for linking MAP businesses to the country’s sustainable livelihood options, entrepreneurial prospects, resource management and the economy and for improving the sector’s global competitive position. Originality/value To the best of the author’s knowledge, this study is the first to explore and present a marketing mix strategy for Indian MAP resources. Thus, it extends the marketing and entrepreneurship literature regarding natural resource businesses to advance sustainable entrepreneurial prospects and sustainability. The study concludes by offering strategic clues for implementing the marketing mix strategy in the Indian MAP sector and businesses.