New York City is known for a few major industries - advertising, media and tech to name a few - but its the city's finance sector that tends to dominate headlines and drive market forces.
Now, that industry appears to be noting a rising demand for greater ecological and environmental practices.
A recent study by research firm Mintel suggests financial firms may need to bolster their green marketing strategies, as 72 percent of survey respondents claimed they "feel good" about working with companies invested in finding eco-solututions.
But despite the obvious demand among consumers, many also appear to be skeptical of how genuine a company's green initiatives are.
"Overcoming this cynicism is the key to a successful green marketing campaign that really stands out," said Susan Menke, vice president and behavioral economist at Mintel.
"In order for a green campaign to be effective, the consumer must feel like the company is truly sincere," Menka added.
Global Industry Analysts has projected that the worldwide "green marketing market" will reach $3.5 trillion by 2017. As the nature of consumer demands evolves, the green marketing sector poses a particular challenge, as how authentic a company's practices are perceived to be may influence how financial entrepreneurs form an LLC in New York.
Tags : financial management, ny, small business management
Posted: Apr 25th, 2011