* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download ABSTRACT Globally, energy scarcity coupled with
Marketing plan wikipedia , lookup
Food marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Planned obsolescence wikipedia , lookup
Product lifecycle wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Consumer behaviour wikipedia , lookup
Diffusion of innovations wikipedia , lookup
Marketing research wikipedia , lookup
Direct marketing wikipedia , lookup
Multicultural marketing wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Advertising campaign wikipedia , lookup
Supermarket wikipedia , lookup
Youth marketing wikipedia , lookup
Street marketing wikipedia , lookup
Marketing strategy wikipedia , lookup
Global marketing wikipedia , lookup
Sensory branding wikipedia , lookup
Predictive engineering analytics wikipedia , lookup
Marketing channel wikipedia , lookup
ABSTRACT Globally, energy scarcity coupled with climate change is the dominant theme in the energy research domain and a major concern in most of the national level plans. Renewable energy has been seen as a viable alternative to mitigate this crisis. This research focused on the eco-innovations of New and Renewable Energy Technology Products (NRETs), which have domestic applications, for the study. However, the literature review revealed that despite the favorability of socio-economic factors at micro and macro level these products have not been able to garner a widespread response. This required a deeper evaluation of the consumer expectations, marketing efforts and the policy initiatives for their promotion. The literature relating to adoption of innovation, eco-innovation, greeninnovation and technology adoption was reviewed. Several definitions of these themes were reviewed like the one proposed by Cloudy (2010) wherein he defines it as “green product innovation is an iterative process, initiated by the opportunity for environmental improvement of the product‘s physical lifecycle via a technologybased invention, which leads to the development, production and marketing tasks striving for the commercial success of the invention”. It was concluded that majorly these themes are synonymous. To answer the first research question of “Why are the Indian consumers not adopting New and Renewable energy products?” the study furthered on the objective of identifying and assessing the factors affecting the customers’ buying decision for Renewable energy technologies products for domestic use .For this purpose initially the literature related to consumer behavior was reviewed. Recent researches now point that the new researches should be more product and situation specific, more specifically for products which involve substantially higher cost for the consumer. The review of literature related to Green Consumer Behavior brought forth a pertinent definition from Peattie (2010) who defines green consumer behavior as, ‘Purchase choice, product use and post use, household management, collective, and consumer activism behaviors, reflecting some degree of environment-related motivation”. The definition rightly highlights that green consumer is not just related to sensitivity towards the environment, but it exists with the other aspects of buying behavior .For the purpose of factors affecting the technology adoption various models were i analyzed, they were Theory of Reasoned Action, Theory of Planned Behavior, Decomposed Theory of Planned Behavior , Technology Acceptance Model, Extension of Technology Acceptance model, Trandis Model, Rogers’ Model and the Model of Adoption Ecological Products’. The comparison of these models highlighted that each one had successive superiority to the previous one. However, the Model of Adoption Ecological Products’, which was built on the Rogers’ Model was found to be incorporating all the factors proposed in the other models as well as the ones which are specific to green products. The study followed both exploratory and descriptive design. A schedule, evolved from the constructs of this model, was developed for administration to the Adopters and Rejecters of NRET products. A sample 1136adopter, 442 Rejecters was collected. The data analysis was done using Logistic Regression. The analysis pointed out that in terms of adoption the understanding of the Product and System Properties had the greatest role in influencing adoption. For answering the second research questions “Why have the marketers of New and renewable energy products not been able to create widespread diffusion of the technology?” the research furthered on the objective of evaluating and analyzing the factors inhibiting the marketing of New and Renewable energy technologies products for domestic use. For this purpose the literature related to marketing of green innovation, green marketing and success stories in green marketing were reviewed. The common thread, in all the organizations, has been the acceptance of the products these businesses. The acceptance of products of these firms is not due to chance or primarily these products are less harmful to the environment, but they were useful to the customers. It can be further concluded that NRETs being eco-innovation, the manufacturers will have to learn from the best practices of the industry for success. The study gauged the perception of manufacturers on the elements of a marketing audit. A sample of 32 manufacturers was collected, and the data was analyzed with the help of One-sample and two samples T-test. The macro-economic environment is perceived favorable for the industry growth. However, in terms of Marketing Strategy Audit, Marketing Organization Audit, Marketing Systems Audit, Productivity Audit, Marketing Function Audit there is much scope for growth. ii For answering the third research questions, “Why has the policy initiative of the government not been able to provide the intended impetuous to the widespread adoption and diffusion of New and Renewable Energy Products?”. The research furthered this objective by critically evaluating the policy initiatives of the government for the adoption and diffusion of New and Renewable energy products for domestic use. The third, objective involved the review of the role of policy in facilitating diffusion. For this purpose the literature relating to the successful policy initiatives in various countries was reviewed .This was coupled with the literature relating to policy cycle. For this purpose Policy Analysis was done. The policy analysis highlighted that the subsidy on conventional fuels coupled with beaurocratic approach, lack of funds and lack of focus on product promotion and also low low key emphasis on research and development were the primary factors for ineffectiveness of the policy. The study concludes with suggestions in terms of changes in the orientation of the manufacturers’ perspective in terms of product and system properties- firstly the product utility has to be enhanced, secondly the interconnectedness has to be improved and finally the symbolism has to be developed to communicate the utility and environment friendliness of the product. In terms of operations, keeping the theme of eco-innovation central, and identifying them as SMEs, the firms have been suggested to restructure their operations on sound managerial and marketing principles. The fuel subsidy on conventional fuels is a necessary evil in India, as discussed earlier still a large majority of population depends on these fuels, out rightly removing the subsidy would not only escalate the energy prices but would have an inflationary impact on other consumer commodities as well. To counter act them, as proposed above, innovative pricing and cost reduction of the product can be targeted. The manufacturers can, rather should, lobby with the government to reduce fuel subsidy on conventional fuels. Another option can be to offer some part of conventional fuel subsidy in terms of purchase linked to the NRET products. The study suggests that further studies in the level of experience of usage and actual usage behavior can be studied. iii