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CONSUMERISM

M.Musthak
Trincomalee campus,
Eastern university,
Srilanka.
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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.

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DEFINITION:

"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)}

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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

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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 awareness
2. Action
3. Social responsibility
4. Environmental awareness
5. Solidarity

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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

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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 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.
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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.
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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.

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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.
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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???


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