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Home > QFINANCE Dictionary > Definition of consumerism

Definition of

consumerism

Marketing

influence of consumers on product manufacturing and sale the influence of the general public, as end users of products and services, on the way companies manufacture and sell their goods. Consumers exert considerable power over companies as organizations become more customer-focused. Demand is rising for products that are of high quality, ethically produced, well priced, and safe, and consumerism pressures companies to operate and produce goods and services in accordance with the public's wishes. In fact, the goals of consumerism are not at odds with those of marketing, as both have the end goal of pleasing the consumer. In practice, however, marketing does not always succeed, and there is still a need for legislation to back up the right of consumers to demand products that are of good quality and for consumer protection bodies that influence the commercial world on consumers' behalf. A particular form of consumer pressure, motivated by environmental concerns, is green consumerism, which campaigns for environmentally friendly goods, services, and means of production.

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Definitions of ’consumerism’ and meaning of ’consumerism’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’consumerism’ and other financial terms with our online QFINANCE Financial Dictionary.

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