Consumerism How It Affects Families Living in Poverty in...

Consumerism: Affecting Families Living in Poverty in the United States Katelynn O’Brien University of Phoenix COM/220 Research Writing May 26th, 2013 Outline I. Introduction of consumerism and brief explanation of its impact to the society II. Consumerism; definition and deep explanation of its impact to the world economies III. Advantages of consumerism A. Economic developments B. Growth and developments of companies C. Production of quality by companies D. Increase in production innovativeness IV. Disadvantages of Consumerism A. Competition increase B. Dishonesty product promotion and advertising methods C. Environmental degradation D. Poverty and dualism V. Effects of consumerism to†¦show more content†¦The majority of the Chinese producers specifically design their products for export purposes due to the presence of higher international demand as compared to the local market. 2. Growth and Development of Companies Consumerism is an important factor that leads to the growth and development of companies in the world economies. The ultimate goal and objective of a business organization is the maximization of profits. Maximum profits are realized from a large market that comprises of buyers ready and willing to buy products and services of the company. Consumerism increases demands for products and services, and thus the presence of a potential large market. Consequently, small companies increase their production capacity in order to meet the demands of customers. In addition, more job opportunities are created to meet the large production capacity in the increased companies. 3. Production of Quality Products Consumerism leads to the production of high quality products. Due to increase in demand, more companies producing goods and services for the same market come up leading to increased competition in the market. Some companies opt to improve the quality of their products in order to achieve a competitive advantage over other competitors (Hill amp; Gaines, 2007). However, the product price does not change much in order to attract customers, which is a benefit to the customers acquiring a high product at an affordable price. 4. Increase inShow MoreRelatedThe Economic And Social Changes During The 1960s Under The Reagan Administration989 Words   |  4 PagesLife in America began to undergo great economic and social changes during the 1980s under the Reagan Administration. During this period of time, stagflation began to distress the US economy, leaving millions of Americans to fall victim to homelessness and poverty. The unemployment rate had reached its highest peak since the Great Depr ession, creating a major crisis for low-income families and other individuals concerning living conditions. 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