Consumerism And Marketing Final Flashcards
What is GDP?
It is the amount of money per capita, or per person all of the wealth of the country divided by the population is the GDP. ( gross domestic product)
What is the role of the consumer in market and mixed economies?
To create demand and to consume resources.
What is prosperity?
It is an economic state of growth with rising profits and an increase in job opportunities:)
What is Consumerism?
And economic theory that links prosperity to consumer demand for goods and services, and that makes consumer behavior central to economic decision-making
What are the indicators of quality of life?
Government Democratic rights and participation Health Education Environment Social conditions and social programs Community involvement and connectedness personal well-being Economy and employment Government Safety
What is the global economy?
The increasing economic interdependence of national economics around the world
What is planned obsolescence
I technique used by producers to deliberately set the length of time that their products will be useful
What is perceived obsolescence
A technique used by producers to make it seem as though their products are obsolete(done with, garbage) when in reality they are not. They are just no longer in style.
What is materials economy
The movement from extraction to production to distribution to consumption to disposal of goods.
What is closed loop production?
A sustainable system in which a product was created using renewable energy, with no polluted output and no waste. The materials used in production or recycled and reused rows and disposed. Not used very much because of the high cost.
What is outsourcing
When producers use overseas labor in the form of sweatshops to increase profits
What is a strike
A stoppage of work by employees of the company, strikes pressure employers to respond to issues that concern their employees
What is boycotting
A decision made by consumers to stop buying a product or service as a way to bring about change.
What is marketing?
It is the processed to determine what products or services may be of interest to consumers how to sell the products and how to get the consumers to keep the products.
Example, the idea of an advertisement.
What is advertising
Advertising is a form of communication used to persuade an audience to take some action toward the products and services of a specific company.
example, putting an advertisement on television.
Name Six ways we see advertisements daily
Newspapers product placement Bus stop Clothing Washrooms Internet
What are created wants?
Once which are created by advertisements
What are the six main advertising techniques used by producers
Bandwagon affect- glittering generalities- testimonials- emotional appeal- plain folks appeal- scientific appeal-
How do unions affect the quality of life for workers and producers?
Workers: increased power benefits and quality-of-life, revive higher pay and keep their rights
Producers: can be more productive but let the workers have more power to stand up for their rights.
What are the positives and negatives of consumerism?
Positives: provides essentials, provides choice of products ,stimulates the economy and crates prosperity.
Negatives: can make it expensive, produces greed, creates environmental issues, creates dependency, crates outsourcing, overusing of resources and creates the black market.
How does marketing impact consumerism?
Marketing gives the producer information on how to make consumers spend more money which creates prosperity.
What is a boom
Of fast economic growth, production is high due to increased demand and unemployment is low. Consumer confidence is high.
What is a recession?
. Where economic growth slows down and the level of production me actually decrease unemployment is increased and consumer confidence is decreased.
What is a slump?
A period where production slows down due to a reduction in demand.
What is a recovery
A. That is in between a recession and a boom, it shows the first signs of a recession.
How is consumerism used as a power of a collective?
In the form of boycotts and strikes
To what extent do consumer actions reflect on the identity?
The things we buy reflect on who we are ,example young adventurous risk taker would buy Redbull and 65-year-old lady wouldn’t. (Understand what this topic is)
To what extent do perspectives regarding consumerism economic growth and quality-of-life different regionally in North America? This is just a topic look at the answer
This is about GDP, all you have to understand is that Canada makes more than Mexico but the U.S. Makes more than Canada(the GDP)
How does individual consumer behavior impact quality-of-life? (Environment)
Just understand the topic of how we dispose of things. For the environment when we throw away things we affect the environment which affects the Quality of life.
