Chapter 5: Recommendation & Conclusion
5.1 Conclusion
The main objective of this research is to find out the relationship between the green purchase intention of
the customers of Barclays bank and the green banking activities that are undertaken by the bank. The
researcher is hopeful that the research will bring a positive result based on the responses he has been able
o get from majority of the sample customers of the bank. There has not been any dispute in the minds of
the customers that green banking activities, which brings blessings for the entire environment where they
live in, are the instrumental factor why they are considering Barclays bank as a good one. They are
looking forward so that the banks keeps on doing good works and want them to improve their green
banking activities more than their existing set up.
5.2 Summary
The researcher has attempted to raise some questions based on which some future research on the similar
topic can be done which; according to the researcher will be very much important for the upcoming
generation of people. He has given the following suggestions:
A research can be conducted on the cost benefit analysis for implementing the green banking
activities,
A measurement scale can be developed through which the impact of green banking can be
measured,
The research can be extended further by incorporating many other variables which have not been
taken here so that the customers green purchase intention on those variables can be more vividly
understood.
The study has demonstrated the facts that green banking activities are very good for the cause of the
overall environment as it reduces over use of paper works and reducing carbon footprints the result of
which is invisible but the impact is invaluable. Most of the banks, including the case bank, have already
incorporated green banking activities in their portfolio; some are in the process of adopting them but the
challenge is the requirement of huge capital as it is very much technology oriented concept, incorporating
them will require huge budget compared to the non green banking activities which is really becoming
difficult for many banks. If most of the customers dont take it positively the bottom-line of the banks can
go down as well but from the current study, it can be assumed that most of the customers of Barclays
bank are very much positive and willing in using green products which according to the researcher is a
positive sign for the other banks who have already not gone green but thinking hesitantly to adopt the
same. The researcher thinks that this research will help them in taking decision about the same in a
positive mode.
UK has been relatively new in adopting green banking models in its banking portfolio. Yet they are
adopting it quite faster than any other countries of the world. Being financially and economically
equipped, they are really taking a giant step in incorporating green products more often than not in
everywhere including in their financial sectors. Most of the citizens are as well very much inclined in the
banks steps of incorporating these green movements as could be noticed from most of the customers
view of the Barclays bank of UK.
5.3 Answer to research questions
Answers from the research questions are:
1. Customer centric approach is required to understand the perception of customers regarding green
banking.
2. Green marketing will positively influence the customers in building brand image.
3. Green marketing strategies positively impact the buying behavior of the customers.
4. Increase of Global warming, concern for future security are the variables that have the strongest
effect on building image on the minds of customers of a bank.
5. It should be made mandatory for all the financial institutions to adopt green banking.
5.4 Answer to research objectives
1. Customer centric approach has been undertaken to get the customers perception.
2. Impact of customer on establishing brand image of a bank based on its green marketing strategies
has been analyzed based on quantitative techniques.
3. Green marketing approach positively influences the buying behavior of the customers.
4. The variables that have the strongest effect on building image on the minds of
customers of the bank are determined.
5. Recommendations have been given for making the situation better in future.
5.5 Recommendation
For doing better in the green banking marketing the bank should follow the below mentioned policies:
The bank should consider its green credit policy as the starting focal point for its green revolution
that will be helpful in up gradation and innovation of more green marketing policies in the near
future.
The bank and all the financial institutions should ask the government to develop more policy
conducive for the better revolution of green banking by incentivizing the sector better than
before.
Involvement of NGOs, along with the central government is also very much critical as if both the
public and private sector goes hand to hand; green revolution will become more apparent and
evident.
The banks internal and environmental conduction system should be monitored more closely by
the government and if any loopholes are found that needs to be treated and cured with strict hand.
Environmental legislation and governance need to be strengthen by incorporating more strict
policies and approaches by the government. It is not at all wise to be simple dependent on the
local authority and let it get worked the way it is working now. It should not suffice the
environmental compliance in a broader sense. It can be done for bringing sustainable
development in the entire green banking concept as a whole.
5.6 Constraint and future research direction
One of the major constraints of this study is the scope of the study. The research was done only keeping in
mind the banking sector of the UK where one bank has been taken as a representative sample. This should
not be a representative for all the other markets. In this sense a replication study can be conducted taking
into accounts industries and companies from different locations. The current study was conducted only
with the UK industry and its perception; the other countrys cultural background, socio economic
considerations and lifestyles were not incorporated. So there is a very big chance that cultural biasness
can play a pivotal role in the potential outcome of the research of the study.
Moreover, the factors that have been taken into account for conducting the same research may not be as
important as some other factors which have not been incorporated here. The researcher believes that those
factors also required to be incorporated in future research to get an absolute idea about the entire concept.
Those factors and variables, along with other cultural set up, can be accumulated for further research to
get a better idea.
The green banking concept is well accepted and appreciated throughout the world just because of the fact
that it will be mutually beneficial to the banks, their clients, industries and the economy as a whole. Green
banking will not only make sure the greening of the whole industry but in the mean time it will also assist
in improving the quality of the overall asset base of the banks in the foreseeable future.