Consumption

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Author:
Lea_
ID:
309874
Filename:
Consumption
Updated:
2015-10-20 02:03:46
Tags:
MGT230
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Description:
Consumption
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  1. Consumption Issues
    Prices - Psychological, concealed costs.

    Product Quality - Live up to manufacturer claims.

    Price Fixing.

    Labelling and Packaging.

    Deception - Ambiguity, concealed facts, exaggeration, psychological appeals.

    Advertising directed at children - more avenues, undermines parents, brand awareness, manipulative.
  2. Overconsumption
    Rich countries tend to consume more than they need.

    Ethical issue - demand for cheap goods leads to manufacturers cutting costs (safety, wages).

    Ethical issue - richest countries consume more resources than the earth can produce.
  3. Product Safety
    Consumers depend on business to satisfy their needs.

    Business has a responsibility to consumers owing to this dependence.

    Faith in the conscientiousness of business is sometimes misplaced.

    Every year thousands are admitted to hospital owing to injuries cause by dangerous products.
  4. How Effective is Regulation?
    Public opinion and political interests may interfere with regulatory efforts.

    Public opinion, the media, consumer advocacy groups and the prospect of class-action lawsuits can persuade companies to take product safety seriously.

    Profit-making often takes priority over consumer welfare in self-regulated industries.
  5. Product Safety Responsibility
    Manufacturers

    Consumers

    Legislative bodies/Government

    Consumer Watchdogs

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