Consumerism – For the better or worse?

Consumerism is a much discussed topic for debate. The more we delve in the subject, we start to understand insights which we never could have in our first thought. The law of demand states that as the prices of the product fall, the quantity demanded by the consumer increases. If we have to reduce prices of a product, we need to have funds for capital expenditure. Once we setup the necessary process to increase production, on the other hand we also solve unemployment problems. Every person is a consumer and our task is to find out their needs. As an organisation, we need to have a customer-centric approach. Now there are many reasons for it. The first and the foremost are globalization and rise of the internet. The consumer is much more smarter now with the improved technology. He exactly knows what he wants and where he can find it. If we do not promote or protect his interests, our business will lose out and ultimately, we will go against the laws of economics and marketing at the same time. In fact, conscious consumerism is a great concept used by many NGOs. For instance, Make a Difference (MAD), an NGO working towards educating the under-privileged children uses the concept of conscious consumerism very well. The altruism of a few people motivates them to buy MAD t-shirts etc. which indirectly helps their target audience. This doesn’t only provide us with a sense of satisfaction but also breaks the vicious circle of materialism. Thus to end, I will say customer is god. The more we understand their interests, the better our services get making the world a better place to live.