Effect of Eco-Friendly Products on Consumer Purchase Intention (eBook)

Seminar paper from the year 2021 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: 3.8, Limkokwing University of Creative Technology, language: English, abstract: This study investigates the customers' intention to pay the premium for green product, rather than their purchase intention crosswise over various product classes. It attempts to predict the factors that drive green purchase decisions and purchase intention. Organized surveys are utilized for data accumulation and ordinary least square regression, analysis of variance have been utilized for analysis of information. Results recommend the strength of customers' discernment about the functional parts of green products on their purchase intention. Extraordinary economic development activated by innovation revolution; globalization has prompted market driven development in consumption pattern in the rising economies. Change in consumption pattern has prompted overconsumption or unsustainable consumption and over abuse of assets. In the present period the worry over environmental downturn, decrease of environmental effect and practical development has turned into the topic of interest among the researchers, academicians, specialists and even industries. Consumer research perceives that their observations for a product, approach, understanding about the product and its producer and different contextual factors assume a prevailing part in their decision-making process. Purchase intention, which signifies the most extreme value that a consumer will pay for a specific or a heap of products, play a conclusive influence on their decision behaviour. Accordingly, in the crossroads of environmental decay, implementation of friendly environmental practices inclusive of green product consumption relies upon their tendency to pay the green value premium. The present study endeavours to dissect the factors predicting consumers' intention to pay the green value premium for products with green certification. The environmentally feasible or environmental good or green products involves a rundown of potential advantages to the environment as they are made of environmental-accommodating assets, have asset preservation potential, can be reused and have the least environmental effect at all phases of its lifecycle. In section two a concise depiction of the constructs has been given, trailed by research methodology in the third segment. The analysis of information with the findings of the study and conclusion are exhibited in the fourth and fifth section. The last segment gives the managerial ramifications of the study.