Marketing and Management of Innovations

ISSN (print) – 2218-4511 

ISSN (online) – 2227-6718

Registered in the Media Registrants-Register

Identifier in the register: R30-01179 Decision dated August 31, 2023, No. 759

The language of publication is English. 

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Oleksii Lyulyov

Sumy State University | Ukraine

The Interplay of Eco-Innovation and Market Uncertainty on Green Marketing Orientation and Business Performance

Fatima Shaukat1, , Hafiz Muhammad Fakhar Zaman
2,*   , Thi Thanh Nga Nguyen3, , Paovangsa Souvanhxay2, 
  1. School of Management, Northwestern Polytechnical University, China
  2. School of Management and Economics, Kunming University of Science and Technology, China
  3. Thai Nguyen University of Economics and Business Administration, Vietnam

     * Corresponding author

DOI: https://doi.org/10.21272/mmi.2023.4-04

Pages: 48-68

Received: 15 August 2023

Revised: 21 October 2023

Accepted: 27 October 2023

Abstract

This study aims to contribute to the literature by investigating the impact of eco-innovation on business performance within the institutional theory framework and from a resource-based perspective. Specifically, this paper explores the influence of eco-innovation on business performance by adopting a green marketing orientation. This study builds a complete framework that establishes a connection between environmental innovation, market uncertainty, green market orientation, and corporate performance. The current investigation uses the conceptual underpinnings of the resource-based view (RBV) to evaluate the potential mitigating impact that a company’s eco-innovation attempts may have in the setting of unpredictable market dynamics. It is widely held that to develop a positive correlation between corporate performance and eco-innovation, it is vital to possess a comprehensive understanding of the environment. In contrast to several other industries, the pharmaceutical sector has the capacity to address environmental concerns through the implementation of unique solutions tailored to its specific context, namely, its services. This article addresses the moderating influence of market uncertainty and analyses eco-innovations as a reaction to their green marketing-oriented holistic approach to achieving competitive advantages and business performance. It examines eco-innovations as a reaction to their green marketing orientation and holistic approach to achieving competitive advantages and business performance. The integration of institutional theory and green marketing theory is also included, as is an examination of the moderating effect of market uncertainty. According to a survey of Pakistan’s pharmaceutical business, the empirical findings reveal that a competitive environment strongly urges the industry to adopt a holistic green strategy. Eco-innovation serves as a mediator between green marketing orientation and business performance and directly impacts business performance. The findings will assist management and corporate leaders in their decision-making process on using eco-innovation to achieve sustainability objectives. This study addresses the existing theoretical and empirical knowledge gap by providing insights that can assist corporate leaders in effectively leveraging and attaining improved outcomes by implementing holistic green marketing strategies. This approach aims to enhance their understanding of the mediating and moderating elements. Furthermore, market uncertainty mitigates the effect of eco-innovation on business performance while amplifying its contribution to the link between green marketing orientation and performance. Future research directions, ramifications, and consequences for eco-innovation studies in the Pakistani context are considered.

Keywords: corporate social responsibility; human resources; supply chain; sustainable performance.

How to Cite: Shaukat, F., Zaman, H. M. F., Nguyen, T. T. N., & Souvanhxay, P. (2023). The Interplay of Eco-Innovation and Market Uncertainty on Green Marketing Orientation and Business Performance. Marketing and Management of Innovations, 14(4), 48–68.https://doi.org/10.21272/mmi.2023.4-04

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