Question

I light the role of media in spreding awareness among consumer

Answer 1

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Consumer awareness refers to the knowledge consumers have about products or services and their rights as consumers. At the basic level, this means developing an awareness of products or services, and understanding the rights a consumer has regarding a malfunctioning product. As consumer awareness increases, the consumer may become familiar with ways in which to use a product or service, the benefits or drawbacks of a specific product or service, or reviews or recalls of a product or service. In large part, this awareness comes through the media, both by advertising and through news stories about products or services.


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Answer 2

Answer:

Lenders asked for collateral while lending money to the borrowers due to the following reasons:

1. The mass media plays an important role in consumer awareness regarding their rights.

2. Both print and electronic media highlights the issues of consumer exploitation and bring them in the notice of people and the government.

3. Media help the people to express their views.

4. Many consumer activities and organizations write articles in the print media and participate in the interview and debate in the electronic media and highlight the malpractices in the market