R Square Test Hypothesis Test

99 This study also provide insights for students to explore more green marketing matters in relation to other variables, so enabling the extensive empirical evidence in the field. Besides, this paper may be helpful for other researchers to develop scale or index on green marketing which can ease novel researchers to contribute insights in marketing discipline.

C. Recommendations

This research is not only limited in organization-wide scale, but also industry- wide ones. Perhaps, other industries can follow the electronics sector lead, so that can tackle the global climate change issues and other environmental issues. Industry collaboration is necessary to manifest efficient and greener operations with green raw materials sourcing. Industry collaboration can also helps firms inside the industry to utilize patented technology in purpose of green operations. In addition, this study suggests firms to report or integrate report of triple bottom line matters –economic, environmental, and social sustainability. One of the most reliable and widely used framework is Global Reporting Initiative, with more than 1,500 companies have adopted the guide. Furthermore, it is recommended that more companies should join worldwide index, such as Dow Jones Sustainability Index, KLD Index, Calvert Index, FTSE4 Goods Index, and other similar rating companies. The reason is to leverage a firm’s reputation and value. While there are many stock markets in the world, firms are 100 fostered not only to trade the stock, but also “trade the environmental practice’. It means that firms should perform well in other two bottom lines, namely environmental and social sustainability in order to realize sustainable operation and well-being.

D. Limitation of the Study

This study is constrained with lack of index that stresses on green marketing strategy. There should be a common and standardized measurement to assess green marketing policies and practices of a firm. Furthermore, level of consumer awareness towards environmental issues is still low generally. Consumers still rely on economic cost, product -features, and -lifetime. In fact, there are many issues that consumers should understand, like take-back and recycling program, extended producer responsibility, and so forth. That is why conducting research in green marketing strategy may not rely heavily on consumer perspective, otherwise environmentally focused NGOs, governments, or experts. 101 REFERENCES Agustina, A. W. “Analysis of the Effect of Inflation Rate, BI Rate and Exchange Rate on Stock Return of Consumer Goods Sector and Property and Real Estate Sector in Indonesia Stock Exchange IDX ”, 2011. Ählström, J. and Sjöström, E. “CSOs and Business Partnerships: Strategies for Interaction ”, Business Strategy and the Environment, 144, JulyAugust, pp. 230-240, 2005. Amelia, F. “The Influence of Financial Ratios toward Initial Public Offering in Banking Sector which Listed in Indonesia Stock Exchange 2006-2009 ”, pp. 52, 2011. Bäverstam, O. and Larsson, M. “Strategic Green Marketing - A Comparative Study of How Green Marketing Affects Corporate Strategy within Business to Busines ”, pp. 1-40, 2009. Babin, Z. and Griffin, C. “Business Market Research” 8 th edition, South Western, Cincinnati, OH, 2010. Banerjee, S.B. “Corporate Environmentalism and the Greening of Strategic marketing: Implications for Marketing Theory and Practice ”. In Charter, M. and Polonsky, M.J. Eds. Greener Marketing: A Global Perspective on Greening Practice , Sheffield, Greenleaf Publishing Limited, pp. 16-41, 1999. Beilin, R., Paine, M., and Pryor, R. Designing Extension to Deliver Triple Bottom Line Outcomes , RIRDC Publication, No. 07100, 2007. Bonini, S. and Oppenheim, J. ‘‘Cultivating the Green Consumer’’, Stanford Social Innovation Review , Vol. 6 No. 4, pp. 56-61, 2008. Charter, M. “Greener Marketing: A Greener Marketing Approach to Business”, Greenleaf Publishing, Sheffield, 1992. Charter, M., Peattie, K., Ottman, J., and Polonsky, M. “Marketing and Sustainability” , Association with the Centre for Sustainability Design, Centre for Business Relationships, Accountability, Sustainability and Society BRASS, Cardiff, 2002. Chatterjee, P. Green Brand Extension Strategy and Online Communities, Journal of Systems and Information Technology , Vol. 11 No. 4, pp. 367-384, 2009. Retrieved May 15, 2010, from www.emeraldinsight.com1328-7265.htm . Crane, A. “Exploring Green Alliances”, Journal of Marketing Management, 146, July, pp. 559-580, 1998. Cronin, Jr, J.J., Smith, J.S., Gleim, M.R, Ramirez, E., and Martinez, J.D. Green Marketing Strategies: An Examination of Stakeholders and the Opportunities They Present , Journal of the Academy of Marketing Science, 2010. Deloitte. “Sustainability in Business Today: A Cross-industry View”, 2010.