BALANCING PROFITABILITY AND SUSTAINABILITY: USER PERCEPTIONS AND BUSINESS STRATEGIES IN PRODUCT MANAGEMENT

BALANCING PROFITABILITY AND SUSTAINABILITY: USER PERCEPTIONS AND BUSINESS STRATEGIES IN PRODUCT MANAGEMENT

Nishad Abdulla1, Ankit Kumar2

Students at Lovely Professional University

ABSTRACT

In today's business context, organisations want to understand economic viability with environmental and social responsibility must include sustainability principles into their product management processes. This research paper investigates the subtle relationships between sustainability, consumer perceptions, and company profitability in product management. This study examines the relationships between these essential components using a conceptual framework that includes sustainability initiatives as the independent variable, consumer perceptions and behaviours as the mediating variable, and company profitability as the dependent variable. The study intends to understand the fundamental mechanisms driving the sustainability-productivity nexus by conducting a thorough review of consumer attitudes, behaviours, and preferences towards sustainable products, as well as business sustainability policies and financial consequences. The study's findings provide significant insights for firms, legislators, and educators looking to effectively navigate the evolving terrain of sustainability in product management. Finally, the research contributes to the improvement of sustainable business practices, resulting in a more resilient and fair economy that balances profitability, environmental stewardship, and societal well-being.