Posted in Marketing and Strategy Terms, Total Reads: 14270
It is a social phenomenon that empowers the buyers and consumers. Its effects are visible in the laws, regulations and also the marketing practices.
It keeps a check on the companies and ensures that the consumers get quality products which are safe for them at the correct price. It also ensures that the consumers are provided with the correct information about the products. Also Consumerism forces the companies to operate and produce goods and services according to the consumer’s needs. It plays a very important role in every stage of marketing starting from new product design to communication through advertisements.
Example: of this is the detailed composition/ingredient description available on all products etc.