Sustainable Development: Alternative Market Models for Practical Implementation

By Călin Gurău and Agnès Le Bellac.

Published by The International Journal of Sustainability Policy and Practice

Format Price
Article: Print $US10.00
Published online: April 10, 2014 $US5.00

The paradigm of sustainable development is regarded as a necessary solution for the present environmental crisis. The implementation of this new socio-economic model implies a complex collaboration between companies, customers and governments. Considering the specific role played by these three categories of stakeholders, this study attempts to identify and discuss alternative market models that can be used to realize the transition towards a sustainable socio-economic system. The two sustainable market systems presented in this paper have the classical disadvantages of any abstract model: they are simplified versions of reality that include a limited number of elements, processes and relationships. However, despite their simplicity, they can provide a useful insight into alternative solutions for implementing a sustainable economy based on free market exchanges. Ultimately, the choice between these two alternative systems should be determined by their effectiveness and efficiency in creating a functional sustainable economy. The first model is largely based on the present market situation. Many specialists are optimistic regarding its success, given enough time for the gradual change of business and consumer values (Choi and Gray 2008; Deloitte 2009; Fisk 1997; Parrish and Foxon 2009). The second model starts from two basic elements that represent the main barriers for the further development of the present sustainable system: the lack of clear, standardized information regarding the negative impact of various business and consumption activities, and the integration of these negative externalities in the total cost of products and services. The implementation of these two measures, properly managed by the government, can determine a quick restructuring of the present market environment and the development of a much needed market for environmental protection and regeneration services. This model clearly represents a generalized exchange system as defined by Bagozzi (1975).

Keywords: Sustainable Development, Marketing Strategy, Alternative Market Models

The International Journal of Sustainability Policy and Practice, Volume 9, Issue 3, April 2014, pp.15-29. Article: Print (Spiral Bound). Published online: April 10, 2014 (Article: Electronic (PDF File; 443.621KB)).

Dr Călin Gurău

Associate Professor, Marketing, Groupe Sup de Co Montpellier Business School, Montpellier, France

Dr. Călin Gurău is an associate professor of marketing at GSCM - Montpellier Business School in France. He is a Junior Fellow of the World Academy of Art and Science in Minneapolis, USA. He worked as marketing manager in two Romanian companies and has received degrees and distinctions for studies and research from University of Triest in Italy; University of Vienna in Austria; Duke University in the USA; University of Angers in France; and Oxford University, Southampton Business School and Heriot-Watt University in the United Kingdom. His present research interests are focused on marketing strategies for high-technology firms and innovative pedagogy. He has published more than 30 papers in internationally-refereed journals, such as International Marketing Review, the Journal of Consumer Marketing, the Journal of Marketing Communications, etc.

Agnès Le Bellac

Marketing, Groupe Sup de Co Montpellier Business School, Montpellier, France