Sustainability Marketing Practice in Emerging Markets During Economic Crisis : Insights from Sri Lankan Context

Sammanfattning

Abstract This study examines how businesses in emerging markets balance sustainability marketing with financial pressures during economic crises. Using Sri Lanka as a representative case of emerging markets experiencing economic crisis (2019-2022), the research investigates how businesses balance sustainability commitments with financial survival under severe resource limitations. The study utilized a qualitative approach based on the Triple Bottom Line (TBL) framework, conducting semi-structured interviews with six senior marketing professionals from Sri Lankan companies across different sectors. The TBL framework examined how businesses manage economic, environmental, and social sustainability dimensions during crisis periods. The main finding shows that businesses manage sustainability-financial tensions through strategic adaptation rather than leaving sustainability practices. Three primary strategies were identified: selective sustainability maintenance, where companies focused on high-impact practices while reducing resource-intensive activities; digital transformation as a solution addressing economic efficiency and stakeholder engagement; and strengthened social sustainability creating “crisis capital” through stakeholder loyalty. Companies used various strategies including strategic pricing, cross-subsidization between products, portfolio optimization, employment protection, and community support programs. Digital transformation was particularly important, reducing costs while maintaining customer relationships. Economic and social sustainability received more attention, while environmental initiatives were often postponed during the crisis. The research found that businesses treating sustainability as core to their operations were better able to maintain commitments across all sustainability dimensions despite budget cuts. This challenges the common belief that economic difficulties require abandoning sustainability goals.The study contributes to theory by extending the TBL framework to crisis situations and introducing the concept of “crisis capital.” It addresses a gap in sustainability marketing literature, which has mainly focused on stable, developed markets. The findings suggest that marketing practitioners should integrate sustainability into core business strategy, corporate leaders should view sustainability as strategic investment, and policymakers should support businesses in maintaining sustainability during crises. The study concludes that sustainability marketing and financial survival can work together during economic crises. Strategic sustainability integration can strengthen relationships with stakeholders and create long-term value while ensuring immediate survival.