Assessing the Impact of Sustainable Business Practices on Consumer Behavior in the Indian Pharmaceutical Industry: A Systematic Literature Review
Keywords:
Sustainability, Consumer Behavior, Pharmaceutical Industry, Green Manufacturing, Circular EconomyAbstract
The pharmaceutical business is crucial worldwide for healthcare delivery, although it faces significant problems in achieving sustainability objectives. Among them, less environmental effect, enhanced resource use, and promotion of social responsibility are of lesser significance. This study studies the influence of sustainable business practices on consumer behavior in the Indian pharmaceutical sector, employing databases such as Scopus, Web of Science, and PubMed. This research aims to ascertain the impact of these activities on customer behavior. Some of the major means utilized are Corporate Social Responsibility initiatives, eco-friendly production, and green packing. This combination of methodologies will offer consumers, based on their personal preferences, an e-commerce experience where they are able to buy eco-friendly products with a social responsibility backing.
Due to the increasing demand for communicative transparency in sustainability initiatives, consumers have been more willing to support eco-friendly companies. Less environmentally damaging products — that are recyclable or biodegradable, for instance — or ones that require less energy to manufacture, generally outsell. Several theoretical foundations explain the relationships of consumer attitudes, believe and perceived behavioral control on purchasing behavior. These models include the Theory of planned behavior (TPB) and the CSR Framework. This is even more significant when it comes to choosing environmentally-friendly medication or companies that have performed much corporate social responsibility.
Among the unresolved issues are poorly understood customers, legal hurdles and high implementation costs. Circular economy as a useful way of thinking can help us to minimize waste by optimizing and designing for reuse, leading to a more sustainable way of recovery empowered by technology, like digital sustainability monitoring systems. CSR initiatives further include public reporting and community health campaigns which indicate how corporations put their localities' social and environmental welfare first thereby translating customer trust and loyalty.
Potential future research goals posited in the paper include: exploring the interlinkages between individual people’s cultural contexts and their views of sustainability, comparison of diverse sectors to uncover practically achievable sustainable options, and assessing the economic viability of greener practices.
Sector stakeholders are offered practical insights focused on the dual advantages of sustainability for corporate expansion and environmental conservation. Global sustainability objectives may be attained when corporate operations align with customer expectations, therefore augmenting brand equity.
The study's pragmatic approach to addressing sustainability-related issues and fostering innovation benefits stakeholders, therefore improving existing communication. Observing consumer behavior and using that data to execute genuine sustainability activities may enable Indian pharmaceutical businesses to differentiate themselves in an increasingly environmentally aware market.
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