position and responsibility of consumer in the market economy
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Answer:The role of the consumer in a market economy Individual consumers make decisions on how to use resources. Consumers take their responsibility to make decisions and to buy what is best for them. There is a lot of competition in a market economy because producers want consumers to buy their products The consumer also plays a role in the feedback-gathering process after a company’s offering hits the market. After implementing your marketing plan and releasing the product or service, you need to track results and continually monitor consumer needs so you can improve on the offering in the future. Through the consumer's purchasing power, the entire notion of business is accomplished and without the consumer, this important aspect of the exchange of goods and services is lacking. The role of a consumer (or of consumers in general) is important in an economic system because it is consumers who demand goods and services.Boiled down to its essence, the role of marketing is to identify, satisfy, and retain customers. Before you can create anything of value, first you must identify a want or need that you can address, as well as the prospective customers who possess this want or need.
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