Marketing mix strategy, Procurement strategy, and Eco-labeling strategy on concept Enviropreneurial Orientation to Business Performance of Thai Pharmaceutical Industry

Abstract

Over the last few years, it can be found that the role of green marketing mix strategy is significant in enhancing the overall performance of the firm because it refers to the marketing practices and processes with the ecological responsiveness. However, the main focus of the given study is to bring the concept of enviropreneurial orientation in the pharmaceutical firms of Thailand for the effective overall business performance. The mediating role of a three-layer green strategy which includes green marketing mix strategy, green procurement strategy and eco-labeling strategy to enhance the business performance of the Thailand pharmaceutical sector. The following study tested the model of multiple mediations mainly through the sample of employees and managers of 451 from Thailand, with these organizations coming from the pharmaceutical sector. To evaluate and test the research hypothesis, the following study employed structural equation modeling technique. The outcomes constructed with the help of SEM revealed that green marketing mix strategy and eco-labeling strategy can significantly and positively influence the overall business performance of pharmaceutical firms in Thailand. The findings also suggest that the eco-labeling strategy transmits the significant effect of EO to an overall firm or industry performance. The findings and verdicts of the research study also offer some implications for future studies.