A Simulation Model on Determining the Patrons of a Business in the Era of Green Movement

Abstract

In an era known as the green movement where businesses are attracted to produce environment-friendly goods, it is inevitable that additional costs are needed which are referred to as the “green premium” in this study. This simulation model aims to predict the number of customers who would continually patronize the business in spite of the premium. It is worth noting that the buyer’s willingness and awareness should form part of the picture. It is then determined that there is only a minimal number of customers who will remain loyal hence, giving rise to businesses’ implementation of strong green marketing strategies.

Keywords

• green premium
• green marketing
• green movement