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Consumerism

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consumerism is part of marketing management

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Consumerism

  1. 1. CONSUMERISM 1 M.Musthak Trincomalee campus, Eastern university, Srilanka.
  2. 2. As commonly understood consumerism refers to wide range of activities of government , business and independent organisations designed to protect rights of the consumers. Consumerism is a process through which the consumers seek redress(to set right) , restitution and remedy for their dissatisfaction and frustration with the help of their all organised or unorganised efforts and activities. 2
  3. 3. "Consumerism is concerned with protecting consumers from all organisations with which there is exchanged relationship. It encompasses the set of activities of government, business, independent organisations and concerned consumers that are designed to protect the rights of consumers". {McMillan Dictionary (1985)} 3 DEFINITION:
  4. 4. How did consumerism originate? In the existing markets of products run in shortage , adulteration & black market prices. The profit making attitude of the business failed to discharge social responsibilities of maintaining fair price, quality of goods & providing services etc. For example:- * tooth paste tube filled with air 4
  5. 5. Why consumers buy more: 1. Addiction 2. Identity 3. Lifestyle 4. Save money as promised by the markets 5
  6. 6. Why companies try to sell more and more : 1. To gain from economy of scale 2. It costs less to retain a customer than to capture a new one 6
  7. 7. Importance of consumerism 1. Stop unfair trade practices 2. Provide complete & latest information 3. Discourage anti-social activities 4. Implementation of consumer protection laws 5. Protect against exploitation 7
  8. 8. Consumer responsibilities 1. Critical awareness 2. Action 3. Social responsibility 4. Environmental awareness 5. Solidarity 8
  9. 9. Rights of consumers 1. Right to be informed 2. Right to safety 3. Freedom to choose 4. Right to consumer education 5. Right to claim against seller 6. Right to secure ecological balance and pollution-free environment 9
  10. 10. Marketing Concepts  Marketing Concepts came into being with marketers realized that they would be able to sell more if they knew what was required by the consumers.  Marketers could now understand the factors which would lead to a particular behaviour. 10
  11. 11. Advantages of Consumerism 1.consumers choosing their life style. This means they choose what goods they choose to have. 2.self satisfaction - This includes their wants and needs. 3.Maintain the economic classes, whether they choose middle, upper or low class. 4.Customers have the opportunity to be motivated to improve their social standing, as well as their job. 11
  12. 12. Disadvantages of Consumerism 1. excluding people between their social status. -The upper class has much more advantages than the lower class 2.Consumerism is little by little destroy our environment and natural resources. They really affect our global warming, and the ozone layer. 3.The population is not equally distributed. The majority of the people, pays more attention to the richer people because they benefit their economy, while they ignore the poor. 4.People start focusing on looking for money and goods as the greatest thing ever, instead of focusing on the values and helping people. 12
  13. 13. Relationship between consumerism and quality of life Consumerism and quality of life come together because people can control both of them. If anyone is able to manage their money and decide on what to spend it, they actually controlling their standards of living and their quality of life. An example can be education for their service they are giving, and aswell in the future they can get a well paid job. 13
  14. 14. Examples of Consumerism 1.Education, since as a consumer you buy education and in the future you’ll get a better job. 2.Buying a car for each one of your kids when they all can share one. 3.Investing can be another example, since you pay/collaborate in a business that you choose that is developing; and after that if the company does well you earn a profit from the business you collaborated. 4.Hospitals are also an example since if you have the money to go to a private hospital you will receive a better health care. 5.Also where you live can be another example, because by paying more for a house because of its location, will benefit you by being safe, and living in a better place. 14
  15. 15. Wise Consumer A wise consumer must consider other sales, not just focus on one. Must be able to buy the basic and important needs, that you need on a daily life. Anyhow a consumer must check the quality of a product, and understand how to manage it, as well as to use it. 1. Do I really need it? 2.Is it worth it? 3. Do I have something similar? 4. Is it really good quality? *Do you like to be a wise consumer??? 15
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