Answer 1 SO
Answer 1 SO
ANSWER 1
Consumers have a positive perspective but are disinterested to follow the same
path. In order to end this, OECD committee should take various factors into
account hence, they decided to conduct a multi-country survey on household
behaviour and 5 environmental policy sectors: water use, energy use, food
consumption, waste generation and personal transport choices. Consumer
awareness and rationality should also be taken into account while scheming
functional sustainable consumption policies. The price of goods and services and
the income earned by potential target audience are crucial factors in any market
hence, if the 4 marketing mix P’s are situated precisely then it’ll be easier to
attract consumers. A survey conducted in 2008, by OECD shows that consumers
pay attention to employee rights and child labour. In the modern age, consumers
are concerned about the effects the products they consume have on the factors of
production required to deliver the product. If a company tries to exploit their
employees by providing poor working conditions, no safety precautions, wages
less than minimum wage and if the potential target audience learns about such
unethical practices, they would want to boycott the brand and their products
which could lead to bankruptcy in the long – run. For example, a rumour had cost
Nike, an enormous loss as it said that Nike imports its raw materials from
companies who make workers their bondage and then manufacture raw materials,
this behaviour towards any human being is extremely unethical and void. As
Nike is a well-known and a reputed brand, when their customer base got to know
about the practices Nike adheres to it cost them an enormous loss and tainted
their brand reputation as no one wants to associate themselves to brands who
promote extremely unethical practices and it took Nike a long time to recover
from the after effects the rumour cost them.
In conclusion, OECD report has laid several policies and guidelines for
governments of various countries to follow the path of sustainable development
with the help of sustainable consumption and sustainable production. These
policies could be a long-term plan for sustainable development and make an
enormous difference in the environment and on the economy.