This study was mainly based on topic oI consumerism and its role in the todays market scenario. It also tried to explore how the Consumer Culture and consumerism impacts the marketing techniques oI the companies today.
This study was mainly based on topic oI consumerism and its role in the todays market scenario. It also tried to explore how the Consumer Culture and consumerism impacts the marketing techniques oI the companies today.
This study was mainly based on topic oI consumerism and its role in the todays market scenario. It also tried to explore how the Consumer Culture and consumerism impacts the marketing techniques oI the companies today.
Introduction ................................................................................................................................ 3 Consumerism .............................................................................................................................. 4 AIIects oI Consumerism on Society ............................................................................................ 4 Consumer Culture ....................................................................................................................... 5 Marketing and Consumerism ...................................................................................................... 5 ReIerences .................................................................................................................................. 7
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ntroduction
Today the markets are driven by the consumers alone. The products and services oIIered by the companies are consumer centric and the success oI which is highly dependent on the choice and preIerences oI consumers. Due to this Iact, many companies are trying to bring the right set oI products and services with premium oIIerings to their consumers to attract their social disposition oI purchasing and satisIaction oI their urge related to social status Iactor. This study was mainly based on topic oI consumerism and its role in the today`s market scenario. This study also tried to explore how the consumer culture and consumerism impacts the marketing techniques oI the companies today. On the basis oI the study Iindings, the implications Ior the marketers were identiIied so that they can market their products more aggressively to attract and retain the consumers.
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Consumerism There are several deIinitions oI consumerism based on its nature at various domains. CMA (2011) deIined consumerism as a social and economic activity which explains that markets are shaped by the needs and wants oI the consumers. It not only includes the choice oI consumers about what they want to buy or not, it also answers to the questions regarding their Iundamental rights including the consumer right to choose, their right to be saIe, their right to be inIormed etc. This phenomena date backs to the early civilizations which is so Ilexible that it continued to evolve and shape itselI to the modern market requirements. This concept tries to explain the consumer inclinations towards the market oIIerings oI various products and/or services and brands which is shaped by what consumers considers as their status symbol etc. this can be better understood with the help oI an example. II a car manuIacturing company markets its products as luxury good items to its targeted customers, the customers will buy it to satisIy their urge oI status consciousness. This concept oI consumerism can only Ilourish with proper marketing techniques to create awareness and draw attention, about diIIerent products and brands, to particular group oI consumers. This term is oIten cited with the criticism oI various researchers based on their studies regarding globalization, during the rise oI newly emergent class oI middle class people at the end oI twentieth century (Veblen, 1899). The consumer practices and choice oI selecting products and brands over others depends on their backgrounds or their cultures. In order to understand the term consumerism, it is important to understand what consumer culture is and how it impacts their buying behavior. Affects of Consumerism on Society The people, in consumerism, tends to engage in the chronic purchase oI new goods and services without actually realizing the true need, use, durability, origin and the consequence oI it on the environment. It is driven by attractive and highly spent advertisements which are designed to create awareness and inculcate the sense oI desire among the people to Iollow the latest trends oI market. It ends on materialism which is based on the selI award oI the products and brands on their acquisition (Verdant, 2011). Consumeiism anu Naiketing Implications
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It also interIeres with the economic cycle oI society by replacing the normal desire oI liIe`s necessities, community and Iamily liIe, etc. with the insatiable quest Ior obtaining things and money to purchase luxuries which are not durable and long lasting. Consumer Culture Any culture that represents high scores or ratings oI consumerism is said to be a consumer culture. Holt (2002) explained that the consumption oI the commodities produced in the markets and the symbols that induces the desire oI purchasing is dependent highly on the consumer culture. This system is highly dependent on the Iree will and personal choice oI the people in the sphere oI every day liIe. This term consumer culture is linked to varying conceptualizations oI other terms which might include images, commercially designed and produced texts, objects that are used by the groups which represent the collective sense oI their living standards, environments, identities, member orientation, experiences, and lives etc. (Kozinents, 2001). These means are used and negotiated by the consumers at varying stances and in particular social scenarios and in relationships as well. According to the research on this topic, consumer culture describes a deep web oI networking oI global connections where local cultures are interpreted and penetrated by these Iorces oI trans-nationalization and the global media-scape (Appadurai, 1990; Slater, 1997; Wilk, 1995). The theories oI consumer culture conceptualize the term culture as a mode oI experience, action and meaning (Geertz, 1983). Based on its internal Iacts and complexity, the consumer culture does not determine the actions oI people as causal reactions. Both the consumer culture and the market ideology it oIIers links the consumers to the conceivable Irame oI actions, Ieelings, experiences, thoughts, and diIIerent behavioral patterns and sensory interpretations that makes sense than others (Askegaard & Kjeldgaard, 2002; Holt, 1997; Kozinets, 2002; Thompson & Hirschman, 1995). Marketing and Consumerism Various researchers have in the deIense oI marketing management quoted their studies to explain the linkage between the marketing eIIorts and the consumerism. According to the psychological (Kasser & Rayan, 1993, 1996, 2001; McHoskey, 1999; Sheldon and Kasser, 1995, 1998, 2001; Consumeiism anu Naiketing Implications
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Carver and Baird, 1998; Srivastava et al., 2001; Roberts and Robins, 2000; Cohen and Cohen, 1996) and other researches (Kasser, 2002), there is a clear and consistent diIIerence between the marketing eIIorts and the people who Iocus on the materialistic values only. These materialistic people give low value to the personal well being and the psychological health as compared to the people who value lower to the materialistic pursuits (see Kasser & Kanner, 2003). O`Shaughnessy and O`Shaughnessy (2002) deIended marketing with a claim that consumerism already existed beIore the marketing techniques became popular. It is hard to Iind the evidence supporting this claim. Sterns (2001) noted the rise and increase oI sophisticated marketing techniques and consumerism in his research. According to him these two phenomenons can be tracked side by side over the last three centuries with the emergence oI consumer culture and development oI marketing methods and channels. There exists possibility that the claim presented by O`Shaughnessy and O`Shaughnessy (2002) and others (e.g. Thurow, 1981; Twitchell, 2000) about the 'tendency to materialism is part oI the human condition, and that as widespread material prosperity arose, it permitted the emergence oI both marketing activity and consumerist behavior simultaneously is true. The claim oI researchers about marketing not causing consumerism because consumerism already existed beIore marketing is inadequate. The only possibility oI this tendency is that the humans tend to have materialistic behavior which exists in them. Whenever we are given an opportunity to exhibit this behavior we Iind it hard to ignore. Ethical consumerism is required by the marketers to attract and impact their consumers. Ethical consumerism involves the ethical and intentional purchase oI products and services by the customers with minimal harm to the environment or less exploitation to the humans, animals etc. It is also known as positive buying behavior oI the consumers. The marketing techniques aimed at the targeted people must not include the desire oI getting the product in order to satisIy their materialistic approach towards liIe.
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