Published by MBA Skool Team, Last Updated: April 16, 2012
What is Consumerism?
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.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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