CONSUMERISM

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M.MusthakTrincomalee campus,

Eastern university,

Srilanka.

As commonly understood consumerism refers towide range of activities of government , businessand independent organisations designed to protectrights of the consumers.

Consumerism is a process through which theconsumers seek redress(to set right) , restitutionand remedy for their dissatisfaction andfrustration with the help of their all organised orunorganised efforts and activities.

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"Consumerism is concerned with protectingconsumers from all organisations with which thereis exchanged relationship. It encompasses the setof activities of government, business, independentorganisations and concerned consumers that aredesigned to protect the rights of consumers".

{McMillan Dictionary (1985)}

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DEFINITION:

How did consumerism originate?

In the existing markets of products run inshortage , adulteration & black marketprices. The profit making attitude of thebusiness failed to discharge socialresponsibilities of maintaining fair price,quality of goods & providing services etc.

For example:-* tooth paste tube filled with air

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Why consumers buy more:

1. Addiction

2. Identity

3. Lifestyle

4. Save money as promised by the

markets

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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

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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

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Consumer responsibilities

1. Critical awareness2. Action 3. Social responsibility 4. Environmental awareness 5. Solidarity

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Rights of consumers

1. Right to be informed2. Right to safety 3. Freedom to choose4. Right to consumer education5. Right to claim against seller6. Right to secure ecological balance

and pollution-free environment

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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.

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Advantages of Consumerism

1.consumers choosing their life style. This meansthey choose what goods they choose to have.

2.self satisfaction - This includes their wants andneeds.

3.Maintain the economic classes, whether theychoose middle, upper or low class.

4.Customers have the opportunity to be motivatedto improve their social standing, as well as theirjob.

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Disadvantages of

Consumerism1. excluding people between their social status. -Theupper class has much more advantages than the lowerclass2.Consumerism is little by little destroy ourenvironment and natural resources. They really affectour global warming, and the ozone layer.3.The population is not equally distributed. The majorityof the people, pays more attention to the richer peoplebecause they benefit their economy, while they ignorethe poor.4.People start focusing on looking for money and goodsas the greatest thing ever, instead of focusing on thevalues and helping people.

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Relationship between consumerism

and quality of life

Consumerism and quality of lifecome together because peoplecan control both of them. Ifanyone is able to manage theirmoney and decide on what tospend it, they actuallycontrolling their standards ofliving and their quality of life.An example can be educationfor their service they are giving,and aswell in the future theycan get a well paid job.

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Examples of Consumerism1.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.

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Wise ConsumerA 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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