TRUONG NGOC ANH THE IMPACT OF GREEN MARKETING ON CUSTOMER-BASED GREEN BRAND EQUITY FOR ORGANIC MILK IN VIETNAM CUSTOMER – BASED GREEN BRAND EQUITY FOR ORGANIC MILK THE IMPACT OF GREEN MARKETING ON TRUONG NGOC ANH IN VIETNAM BACHELOR IN MARKETING VIETNAM NATIONAL UNIVERSITY, HANOI BACHELOR OF BUSINESS (MARKETING) HELP UNIVERSITY APRIL, 2025 APRIL, 2025 THE IMPACT OF GREEN MARKETING ON CUSTOMER-BASED GREEN BRAND EQUITY FOR ORGANIC MILK IN VIETNAM BY TRUONG NGOC ANH Graduation Project Submitted to Vietnam National University, Hanoi – International School in Partial Fulfilment of the Requirements for the Degree of Bachelor of Marketing and Department of Business Studies, HELP University, in Partial Fulfilment of the Requirements for the Degree of Bachelor of Business (Marketing) Hons APRIL, 2025 ACKNOWLEDGEMENTS Most of all, I would like to present my most heartfelt and sincere appreciation to the International School - Hanoi National University, where I could study and research during graduate years, I would like to express my appreciation to all teachers and especially PhD Truong Thi Hue for their encouragement to improve knowledge, supplying me with practical information and experience in the research process. With that helpful experience and knowledge, coupled with the supervision, I completed this project within our deadline. I would like to look forward to the possibility of collaborating once again in the near future. Without the diligent supervision of the supervisor, this report could not have been completed.
I would further like to express my gratitude towards all my fellow teachers at the International School - Vietnam National University, Hanoi for helping me understand better the theory and living experiences. Finally, I want to exhibit my most heartiest appreciation towards my family not only who encouraged me greatly to complete this report but also who encouraged me all the time. Hanoi, 2025 Sincerely, Truong Ngoc Anh ii BUSINESS DEPARTMENT BACHELOR OF BUSINESS MGT400 GRADUATION PROJECT DECLARATION FORM Name: Truong Ngoc Anh Student ID: 21070360/ E2300102 Programme of Studies: marketing Title of Project/Dissertation: The Impact of Green Marketing on Customer-Based Green Brand Equity for Organic Milk in VietNam. Name of Supervisor(s): PhD.
Truong Thi Hue Declaration: In accordance with the appropriate regulations, I hereby submit the above Graduation Project forexamination and I declare that: (i) I have read and understood the sections on Plagiarism found in the University’s “GeneralInformation to Students” Handbook and certify that the Graduation Project embodies the results of my own work. (ii) I have adhered to the ‘Harvard system of referencing’ or a system acceptable as per “The Referencing Guide” for referencing, quotations and citations in my Graduation Project. Each contribution to, and quotation in my Graduation Project from the work of other people has been attributed, and has been cited and referenced. (iii) I have not allowed and will not allow, anyone to copy my work with the intention of passingit off as his or her own work.
(iv) I am aware that I may have to forfeit the degree in the event that plagiarism has beendetected after the award. (vi) I am aware that my Graduation Project may be used by my supervisor(s) and/or HELPUniversity for further research or any collaborative work, and under no circumstances whatsoever would claim any rights to the said work. Signature: Date: 25/03/2025 iii LIST OF ABBREVIATIONS No. Abbreviations Symbol Full Handwriting 1 SEM Structural Equation Modeling 2 CBBE Customer – based brand equity composite reliability 3 Rho_C 4 AVE Average Variance Extracted 5 HTMT Heterotrait-monotrait ratio 6 Rho_A Composite reliability 7 AVE Average Variance Extracted 8 CBGBE Customer-based green brand equity 9 R2 R Square 10 β standardized regression coefficient iv 11 GM Green marketing mix 12 F2 F Square 13 GBI green brand image v LIST OF FIGURES & TABLES Figure 3.
2 Load coefficient, AVE, composite reliability,. 3 Fornell-Larcker Criteria. 4 Analysis of Heterotrait-Monotrait Ratio. 8 Separate indirect impact test.
9 Structural Model Results. 48 vi TABLE OF CONTENTS Acknowledgements. Ii Mgt400 Graduation Project Declaration Form. Iii List Of Abbreviations.
Iv List Of Figures & Tables .1 BACKGROUND OF THE STUDY .2 RESEARCH OBJECTIVES AND QUESTIONS. SCOPE OF STUDY. STRUCTURE OF STUDY. 5 CHAPTER 2: LITERATURE REVIEW.
DEFINITION OF KEY CONCEPTS. Green marketing mix. Customer – based brand equity. Green customer-based brand equity.
Dimension of customer-based green brand equity. LITERATURE OVERVIEW AND RESEARCH HYPOTHESIS. Relationship between green product and customer-based green brand equity dimension. Relationship between green price and customer-based green brand equity dimensions.
Relationship between green promotion and customer-based green brand equity dimensions. Relationship between green place and customer-based green brand equity dimensions. Relationships among customer-based green brand equity dimensions. 21 CHAPTER 3: RESEARCH METHOD.ERROR! BOOKMARK NOT DEFINED.
INFORMATION COLLECTION METHODS .Error! Bookmark not defined. SURVEY INVESTIGATION METHOD. Descriptive statistical methods. Evaluation of PLS SEM Measurement Model.
33 CHAPTER 4: DATA ANALYSIS & RESEARCH RESULTS. EVALUATION OF THE PLS SEM MEASUREMENT MODEL. Load coefficient, AVE, composite reliability. Fornell-Larcker Criteria.
The Heterotrait-Monotrait Ratio (HTMT). Variance Inflation Factor. EVALUATION OF THE PLS SEM STRUCTURAL MODEL AND THE RESULTS OF HYPOTHESIS TESTING. Proposed Structural Model Test.
48 viii CHAPTER 5: DISCUSSION. DISCUSSIONS AND IMPLICATIONS. LIMITATIONS OF THE STUDY. PROSPECTIVE RESEARCH PATHS.
ix Abstract: Significance of the Study: Green marketing is a key strategy in promoting eco- friendly products, especially in Vietnam’s organic milk industry, where consumer awareness is rapidly growing. Understanding its impact on consumer-based green brand equity is essential for businesses and academia. Purpose: This study examines how green marketing factors (product, price, promotion, and place) influence brand image, customer satisfaction, and trust in Vietnam’s organic dairy market. Method: Survey on 202 Vietnamese consumers was conducted, and structural equation modeling analysis was done on data using Smart PLS software.
Findings: Green brand image is the strongest factor in building customer trust. Green price and promotion significantly impact brand image but have little effect on customer satisfaction. These findings provide insights for businesses in refining green marketing strategies to enhance brand perception and trust. Keywords: Green marketing, Green product, Green price, Green promotion, Green place, Green brand equity, Brand image, Customer satisfaction, Trust.1 Background of the study Environmental protection is of particular interest to authorities, citizens, and socio- economic institutions in the context of the global environment.
because the global environment is at risk from a variety of threats, including pandemics, natural catastrophes, and climate change. After becoming aware of their environmental obligations, many businesses have begun to take action by incorporating green marketing into their new firm development procedures. Vietnam, like other nations, is witnessing a surge in businesses providing environmentally sustainable products and services to address ecological concerns (Ishaq M. The increasing consumer emphasis on green marketing has led to heightened awareness and positive responses towards companies demonstrating environmental responsibility.
This integration of environmental initiatives into corporate social responsibility strategies is crucial, as businesses recognize that addressing consumer environmental concerns enhances product and service desirability (Olsen, 2014; Kang, 2011). Notably, a recent by (NielsenIQ., 2025, February 26), reveals that 86% of Vietnamese consumers prioritize organic food in their daily diets. This growing preference for organic products presents a significant opportunity for organic food producers and businesses within the Vietnamese market. Businesses must rethink their strategic objectives in order to increase brand value in the face of growing environmental issues.
This calls for proactive use of green and sustainable marketing strategies (Gordon, 2011; Martin, 2012) and an emphasis on enhancing environmental product certifications (Chen, 2010). The significance of incorporating green marketing into modern business operations is highlighted by the increasing scholarly and professional interest in the relationship between environmental issues and marketing strategies (Ng, 2013; Ng et al. Businesses also have to deal with the opportunities and obligations brought on by growing environmental pressures. To achieve ecological sustainability, green management systems, branding, and marketing strategies must be implemented (Berrone, 2017).
Businesses are increasingly incorporating green marketing into their core operations 1 as a result of their recognition that addressing consumer environmental concerns positively influences their preference for products and services (Kang & Hur, 2012). Vietnam, witnessing a burgeoning green marketing movement across sectors such as logistics, agriculture, and cosmetics, exemplifies this trend. The organic milk sector, in particular, has experienced significant growth in this area. An in-depth analysis of how Vietnamese consumers view green organic milk brands in this context is essential since green marketing not only meets consumer demand but also builds long-term brand equity.
Therefore, this research brings many important benefits. First, it helps businesses better understand customer expectations and attitudes towards green marketing through green products, green placing, green pricing, and green promotions, thereby adjusting marketing strategies to enhance green brand equity. Secondly, the research provides valuable information for the organic milk industry, promoting sustainable development and environmental protection. Finally, the research contributes to building a community of conscious and responsible consumers, helping to create a green and sustainable society.
Prior research consistently highlights the critical role of green marketing mix elements in establishing customer-based green brand equity (CBGBE). Studies by (Yoo, B., 2014) and (Sohail, 2017) substantiate the positive contribution of green marketing campaigns to CBGBE. To ensure internal brand marketing success, brand value must be continuously monitored and improved through targeted campaigns. Furthermore, a comprehensive understanding of CBGBE, a significant predictor of brand success, is derived from the interplay of its constituent features (Buil, I.
Consequently, researchers have focused on examining the interrelationships among CBGBE components, as evidenced by studies from (Yoo, Donthu, and Lee, 2000), (Buil, I. Using a Western CBGBE model to analyze Vietnam and similar developing countries is not enough; the model needs to be tested and adjusted first (Chen, 2010), (Ng, 2013), 2 (Chang, C. Vietnam's and other developing nations' organic milk markets are expanding quickly as customers place a higher value on sustainability, quality, and origin. Research on green marketing in this field is still scarce, nevertheless.
Putting green strategies into practice promotes sustainable growth and increases brand value. The demand for organic milk is driven by growing health and food safety concerns, which presents a significant market opportunity. Bellamy's, a massive Australian organic dairy company, is now a rival to major giants like Vinamilk and HiPP. Customers have more options and may pay less when there is greater competition.
Most studies on green marketing and green brand value focus on FMCG, banking, or services, while the organic milk industry remains relatively underexplored despite its distinct characteristics. Existing research has yet to clarify which green marketing factors: green product, pricing, communication, or placing play the most significant role in shaping green brand value in Vietnam’s organic milk sector. Moreover, consumer habits and perceptions of green products in Vietnam differ from those in developed markets. Prior studies have not thoroughly examined the motivations and barriers influencing consumer choices and long-term loyalty to organic milk brands.
Whereas green marketing and customer-based green brand equity (CBGBE) have received extensive research attention across sectors such as fast-moving consumer goods (FMCG), banking, and services, much limited research remains in the Vietnam organic milk sector. The sector is quickly developing with the health and environmental sustainability concerns rising in consumers. But its special characteristics, such as product perishability, origin trust, and environmental claims, necessitate a more tailored research strategy in green marketing, aside from that, no previous research studies are available which might explicitly ascertain the most critical factors of green marketing mix of green product, green pricing, green communication, and green placing in affecting the green brand equity of Vietnam's organic milk sector. Because of differences in tastes, environmental awareness, and consumer purchase behaviors among Vietnamese consumers compared to other more established markets, examination of local determinants in those environments is essential.2 Research objectives and questions 1.