Presented by: Karan Gaba MBA II

What is consumerism
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. Definition :consumerism is not limited to organized effort only but , is a social movement seeking to augment(increase) the rights and powers of buyers in relation to seller
(Philip Kotler)

 "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".

How did consumerism originate?

In our India 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:1. tooth paste tube filled with air. 2. Adulteration in PURE GHEE etc. To over come from that type of problem consumerism originate.

 Some problems of consumers exploitation:1. 2. 3. 4. 5. 6. 7. 8. Pricing Adulteration Duplication Artificial demand Ignore standard Advertising Product risk Warranty and services

 Why consumers buy more:1. Addiction 2. Identity 3. Lifestyle 4. Save money as promised by the markets

 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

 Importance of consumerism:1. 2. 3. 4. 5. Stop unfair trade practices Provide complete & latest information Discourage anti-social activities Implementation of consumer protection laws Protect against exploitation

 Rights of consumers:1. 2. 3. 4. 5. 6. Right to be informed Right to safety Freedom to choose Right to consumer education Right to claim against seller Right to secure ecological balance and pollutionfree environment

 Consumer responsibilities:1. 2. 3. 4. 5. Critical awareness Action Social responsibility Environmental awareness Solidarity

 Consumer protection act in India:1. Consumer protection act, 1986. A) Replacement of defective goods. B) Repair or removal of defects. C) Repayment of price. D) Compensation for loss etc. 2. Drugs & cosmetics act, 1940. 3. Prevention of food adulteration act, 1954. 4. MRTP(monopolies & restrictive trade practices) act, 1969. 5.Essential commodities act,1955.