Is marketing to blame for this increase in consumer spending and increase in personal debt? Or should we hold people accountable for their own decisions whether that is to spend their money or not?
Both are to blame. People who are acquiring debt in order to purchase items they don't need have to be held responsible. However, marketing needs to take responsibility for their part in it as well. Turn on your TV for five seconds and you will see large priced items being pushed at you... but for a "sale" price of course. Marketers are using sales to try and convince people that if they don't buy this item NOW then they won't be able to get it for the price they want. But regardless of whether the item is on sale or not certain consumers can't afford it. It is a vicious cycle that needs end. I agree with Aubrey that marketers are targeting consumers who don't have the income knowing that they may buy it regardless of whether they can afford it. This is both the marketers fault and the consumers fault for allowing themselves to spend money they don't have.
Can you think of a solution for this issue? Perhaps government regulation?
No comments:
Post a Comment