consumer is the king

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Who is aConsumer

Consumer is an individual whohas the necessary purchasingpower to consume good andservices.

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The Truth About Customers

Ten times more expensive to acquire a newcustomer than to keep a current customer

- Bain & Company Research

Customers are lost primarily due toindifference (66%) versus dissatisfaction(14%)

- Wall Street Journal

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Consumerism

Consumerism is a social movement ofcitizens and Govt. to enhance the rightsand powers of buyers in relation tosellers.

Business, Govt., consumer groups and

non-profit groups are concerned with fairtreatment of customers in the exchangeprocess.

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Consumer andChoice

Consumerconsiders the followingfactors before making a purchase :

The level ofsatisfaction derived

from buying goods and services. The price he has to pay to make the

purchase.

Satisfaction derived fromconsuming alternative products.

The price of alternative goods andservices.

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The Right toHeard

This right asserts the ability ofconsumers to voice complaintsand concerns about a product in

order to have the issue handledefficiently and responsively.

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The Right to BeInformed

This right states that businessesshould always provide consumerswith enough appropriate

information to make intelligent andinformed product choices.

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Right to BeSafe

This right provides protectionagainst the marketing of goodsthat are unsafe to health and life

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The Right toChoose Freely

This right states that consumersshould have a variety of optionsprovided by different companies

from which to choose.

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Why consumerprotection

To get the real value for his money.

To effectively organize the consumers.

To take care of illiterate and ignorantconsumers.

To prevent the consumers fromexploitation.

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Agencies ensuringConsumer Protection

Self-help groups

(e.g.- Consumerorganizations)

Business

(by self regulation and fairdeals)

Government

(by imposing laws andorders)

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consumer is the king

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