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Consumer behaviors in purchasing ethical products Essay Example

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Consumer behaviors in purchasing ethical products

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Consumer behaviors in purchasing ethical products. This essay discusses that among the banks of the United Kingdom which adhere to a strict ethical policy, is the Co-operative Bank whose main policy has always been that no deal goes to corporations tangled in the arms trade, animal testing, among many other unethical activities. In this bank, the clients elect every year to determine how their money is used, and because of this, new anxieties are frequently involved, such as genetic modification or climate change. One of the most remarkable achievements of this bank is that it has rejected over nine hundred million pounds value of loan bids since it agreed its ethical policy and current practices in 1992. Because this bank does not invest its customer’

s money in the stock exchange, it has been found to be more stable than other banks, and this has contributed immensely to its continued growth during the credit crisis. Because of the growth in the awareness concerning social responsibilities, ING’s clients have continuously agitated for the offering of ‘ethical’ products and services so that they can be sure they are making a contribution to a more sustainable society. In order to satisfy these demands, ING has continuously moved with the times and has started offering products and services such as a ‘green’ savings account, a ‘green’ loan or insurance policy, or ‘sustainable’ investment funds and as a result, this company has set for itself the target of introducing a range of new ethical products and services every year. When people make decisions regarding purchase of a product or service their decision contributes to more sustainable pattern of consumption since each purchase has ethical, resource, waste and community implications. When people engage in adoption of sustainable lifestyles, the individuals both in USA and UK get involved in the increasingly complex decision-making process, and the daily decisions on ethical solutions result in trade-offs between conflicting issues and results in motivational and practical complexity of green consumption. Consumer behaviors in purchasing ethical products.

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