An Analysis of the Predetermining Factors of Sustainability Marketing and its Impact on Manufacturing Companies Listed on the Indonesian Stock Exchange (IDX)
Abstract
Climate change, environmental degradation, and increasing stakeholder demands have prompted companies to integrate sustainability considerations into their business and marketing strategies, particularly in the manufacturing sector, which contributes significantly to the economy while also exerting substantial environmental pressure. This study aimed to examine and analyze the antecedents of sustainability marketing and their impact on manufacturing companies listed on the Indonesia Stock Exchange (IDX). The study employed a quantitative approach involving a sample of 120 respondents selected through purposive sampling. Data were analyzed using Structural Equation Modeling (SEM) and SPSS. The results indicated that: (1) industry environmental reputation had no significant effect on sustainability marketing strategy; (2) industry competitive intensity had a significant effect on sustainability marketing strategy; (3) sustainability marketing strategy had a significant effect on financial performance; (4) sustainability marketing strategy had a significant effect on market performance; (5) industry environmental reputation had a significant indirect effect on financial performance through sustainability marketing strategy; (6) industry environmental reputation had a significant indirect effect on market performance through sustainability marketing strategy; (7) industry competitive intensity had a significant indirect effect on financial performance through sustainability marketing strategy; and (8) industry competitive intensity had a significant indirect effect on market performance through sustainability marketing strategy. This study provides an empirical contribution by reinforcing the role of sustainability marketing strategy as a mechanism linking industry-level factors to improved corporate performance in the context of Indonesian manufacturing companies.