Credit marketed to cunsumers Essay Example | Topics and Well Written Essays - 1750 words

Credit marketed to cunsumers - Essay ExampleEmphasis is prone to the following fact the marketing plans that promote credence have a series of severe implications for consumers. These implications atomic number 18 analyzed below aiming to highlight the need for setting barriers to the marketing of honorable mention around the world. One of the intimately critical findings of the study seems to be the following in the past credit was regarded as a nib employd under exceptional conditions today, credit has become a key part of daily life. Thus, the wrong of its marketing should be thoroughly reviewed as of their effects on consumers. In order to evaluate the probable consequences of the credit marketed to consumers it is necessary to refer primarily to the methods employed by marketers for promoting credit. Commonly, marketers who design the marketing plans promoting credit use themes and issues related to critical social incidents or problems. For example, in USA the credit c ards that aim to extend medical expenses (Scurlock 6) are quite popular. Another issue quite important for marketers developing these plans is the marketing elbow room utilize for communicating with the public, i.e. for promoting credit to consumers. ... In other words, the marketing plans promoting credit can appear intimately everywhere. It can be quite difficult for consumers to resist to the dilemmas set through the relevant advertisements. However, consumers have started to deliver these plans with skepticism, especially since the image that these plans present in regard to credit-related products have been proved as unreal (Scurlock 12). The institution of the concept of credit score is considered as an effort of marketers to control the concerns of consumers towards the credit-related financial products (Scurlock 127). The positive credit incubate has been set as a prerequisite for the extension of existing credit or for the provision of credit the last case refers to consumers who borrow money for the first time (Scurlock 127). The credit report is based on credit scores a high credit score denotes a consistent borrower while a low credit score indicates the failure of the borrower to respond to his obligations in regard to his debt (Scurlock 127). Today, credit score is used for checking the overall financial status of a person, a fact that has caused strong criticism for example, a medical prognosis for a specific job may be asked to bring his credit report before sign language the employment contract (Scurlock 128). The above practice violates human rights since it justifies the access to private data (Scurlock 128). Although it is widely used, the credit report hides a series of risks a) by emphasizing on credit report and on the grandness of credit score authorities and organizations seem to promote a specific trend consumers are urged to draw up all their efforts for protecting their credit score. In this