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Consumerism: Awareness

June 27, 2014 in Services

Consumerism: Awareness

                                                                                     -Looking through FMCG window 

Consumerism essentially means the growing wants and needs of an individual for goods and services. India is one of the largest and fastest growing economies in the world. The consumer’s standard of life is going higher and hence his needs are escalating as well.

Consumerism in India, is in a new high, and refuses to show signs of budging anymore. The Indian consumer, due to his exposure, of the global market, strives to get the best of the goods in his home land.

“In a consumer society there are inevitably two kinds of slaves: the prisoners of addiction and the prisoners of envy. “

On the other hand Brand awareness is the extent to which a brand is recognized by potential customers, and is correctly associated with a particular product. Expressed usually as a percentage of the target market, brand awareness is the primary goal of advertising in the early months or years of a product’s introduction.

Brand awareness is related to the functions of brand identities in consumers’ memory and can be reflected by how well the consumers can identify the brand under various conditions. Brand awareness includes brand recognition and brand recall performance. Brand recognition refers to the ability of the consumers to correctly differentiate the brand they previously have been exposed to. This does not necessarily require that the consumers identify the brand name. Instead, it often means that consumers can response to a certain brand after viewing its visual packaging images. Brand recall refers to the ability of the consumers to correctly generate and retrieve the brand in their memory.

The people of both rural and urban regions in India are consuming high volume of fast moving consumer goods these days due to the higher disposable income. This has led to a surge in the setting up of a number of FMCG companies in India to meet the rising demand of the consumers. The rural market has grown significantly over the years. The FMCG companies which have grown significantly in India in the last few years are Nirma, HLL, Dabur, ITC, Godrej, Britannia, Coca-Cola, and Pepsi.

The consumers today are endowed with a wide range of options to make their pick in FMCG products. There is a lot of competition in the FMCG sector as a number of factors are to be considered while selling the products. This precisely denotes that only the innovators can survive this tough competition. The investors must be very proactive to the market needs and also build strong and powerful distribution channels.

“One of the weaknesses of our age is inability to distinguish needs from greed’s.”

Whereas the idea of consuming has changed over the past decades. Back to the early human civilization period, most of the activities were needs-driven actions. Consuming was a mere activity that must be done in order to survive. In Industrial and technological age, the way people consume things has changed.

As more diverse product being produced and diverse ways of distribution being invented, there are pleasure factors of consuming in form of choices. People find excitement in choosing what they want to consume. This leads to modern consumerism where the concept of consuming goes beyond the needs of survival.

We live in a time when it is somewhat unavoidable to not consume.  As a society we spend our cash on clothing, furniture, food, coffee, cosmetics, so many things that without us consciously thinking about, have a huge effect on others around the globe. People we will never meet. In places we may have no interest in taking an interest in. 

Our consumerism leads to things being massed produced, inevitably on the cheap, in already impoverished countries, at the expense of the already struggling employee and community, and conducted with social responsibility being of low interest.

“The gap in our economy is between what we have and what we think we ought to have - and that is a moral problem, not an economic one”

Break this down even further and it has a lot to do with Consciousness (another form of awareness which is now been spread)

Global Awareness + Conscious Consumerism = FREEDOM

Most brands link themselves with the social causes, thereby linking consumers with the brands and gaining goodwill in the market. They started examining the issue of consumer demand, improvements of products and the processes involved in their production and delivery in order to provide opportunities for the industry to reduce its environmental impact in terms of reducing wasted resources and unnecessary spend.

FMCG manufacturers and retailers raising ethical standards by, for example, promoting fair-trade, setting up international standards around sustainable sourcing and animal welfare, focusing on health, nutrition and lifestyle, promoting ethical consumerism, supporting social enterprises, Green consumerism (paper bags over plastic is now becoming the new rage) and conserving water.

 

Hence being conscious with our decisions in life, whether that is the products and cosmetics we choose to use. The food we choose to eat. The words we choose to speak. The attitude we choose to take on each day. The social issues and activities we choose to support or partake in.

 

In our modern day western society we are ridiculously lucky and are so blessed with the endless freedom we have to choose what we say, eat, think, wear, do, buy, behave and very importantly how we choose to spend our days.

Let’s get conscious…let’s ensure our need to consume has a positive social impact.

 

“The key to growth is the introduction of higher dimensions of consciousness into our awareness.”

 

1 response to Consumerism: Awareness

  1. The information is really helpful, thank you for sharing

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