Role of sustainable products and packaging on the brand equity of company

Abstract

Sustainable products and packaging have gained recent importance due to awareness owing to national and international steps in this direction due to fears of global warming. It has led to initiatives like COP26, Greenpeace, Worldwide Fund for Nature, UNEP, etc. which have continuously shown determination towards saving environment and encouraging companies to come up with innovative solutions considering environment. Sustainable products and packaging (SPP) are one such sector that is completely in limelight and showing prospective exponential growth rate opportunities. SPP when coupled with other factors like price, quality, quantity, awareness, etc can position any company much higher compared to other companies and acts as a competitive advantage. This can be considered as sustained competitive advantage and forces other companies in the market to come up with such environmentally friendly practices in order to be competitive. Such concern and motivation encouraged us to go deeper into this area and take the problem statement as role of sustainable products and packaging on the brand equity of a company. We gathered literature around this topic and tried understanding the relevant areas to consider and then develop hypothesis which was tested using the survey and experiment via questionnaire. The data was collected, prepared, analyzed with 2 sampled t-test to come up with indicative behaviour of customers towards SPP. There are several other factors that have impact on the brand equity of a company, but we have done our project in limitation to SPP only considering other factors are similar for all other companies. Further we were able to conclude that sustainable products and packaging has a positive impact on the brand equity of a company considering all other factors like price, quality, quantity, awareness, etc. remains same for all other companies.