M-5: Role of consumerism in our economy Rashid Mureed Email: [email protected]
Role of consumerism in our economy 22 February 2020 Buying things is serious business! It’s part of the economic decision making that determines how our society uses resources. Consumerism
Consumerism An economic theory that links prosperity to consumer demand for goods and services, and that makes consumer behavior central to economic decision Making When we buy goods and services, we become consumers Role of consumerism in our economy 22 February 2020
22 February 2020 Role of consumerism in our economy Have you ever thought of what influences you as a consumer? Consumerism
Role of consumerism in our economy 22 February 2020 How does consumer behavior affect quality of life for individuals and groups in Pakistan.? Consumerism
Role of consumerism in our economy 22 February 2020 What affects the impact of consumerism on the economies of Pakistan? Consumerism
What impact can consumer behavior have on the environment? How do impacts on the environment connect to quality of life? Role of consumerism in our economy 22 February 2020 Consumerism
What challenges and opportunities can consumerism create for society? To what extent does consumer behavior affect the jobs and products available to people? How do jobs and products connect to quality of life ? Consumerism
Role of consumerism in our economy 22 February 2020 How might marketing affect consumer behavior? Why might understanding the role of marketing be important to you as a consumer? Consumerism
Role of consumerism in our economy How can consumers act together to bring about change? Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions How will your identity — who you are, what you believe in and value, where you live, the groups you belong to, your way of seeing the world How much will you consider your health? Safety? Security? How does choosing a product affect the jobs people have? How important to you are the environmental impacts of products and services? How will marketing affect what you buy? Do you really need to buy anything at all? Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Identity How do their views compare with your own ideas about expressing identity? To what extent do the products we consume define who we are and what’s important to our quality of life? Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Health & Safety Why might Pakistani have different views about decisions to ban some products? How does legislation about consumer health and safety affect consumer behavior? How does this legislation connect to values and economic systems in Pakistan? Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Jobs Can consumer behavior affects the production of goods and services and affects jobs Why might choosing to buy environmentally friendly products affect the quality of life for you and other people? What are some choices you can make as a consumer that protect the environment? Why might this be important? What Legislation you suggest about Consumerism and the Environment Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Environment To what extent do consumers choose the products they buy, and to what extent does marketing determine what they buy? Role of consumerism in our economy 22 February 2020
Factors that might influence the decisions Marketing Have you ever thought about how much influence advertising has on the decisions you make as a consumer? Role of consumerism in our economy 22 February 2020
Marketing Techniques Role of consumerism in our economy 22 February 2020
Critical Thinking Challenge Role of consumerism in our economy How might boycotts affect producers? What positive and negative impacts might they have on quality of life? To what extent is it important for consumers to be informed about issues connected to boycotts? 22 February 2020
Try finishing each of these sentences to identify the points you want to make: The product I have selected is… because… The marketing techniques used by advertisers to sell the product are… Some examples showing the relationship between advertising and the choices of the consumer about this product are… Consumer decision making with this product affects quality of life in these ways… As consumers, we can take action to improve our quality of life by… Critical Thinking Challenge Role of consumerism in our economy 22 February 2020