Question

what are the effects of consumer awareness?

Answer 1

consumer awareness

Explanation:

• The results show that consumer awareness positively influences consumer ethnocentrism, while consumer awareness influences consumer loyalty.
• The results also reveal that consumer ethnocentrism influences consumer loyalty in a positive manner.Reasons or factors causing exploitation of consumers are:
• (1) Limited information
• (2) Limited supplies
• (3) Limited competition
• (4) Low literacy
• (5) Lack of bargaining power
• (6) Irregular prices offered
• (7) Misleading advertisements
• (8) Lack of unity and
• (9) Cumbersome and time taking legal proceedings.Consumers are the largest economic group in any country.
• They are the central point of all economic activities.
• The ultimate aim of production, storage and distribution is to ensure consumption of goods and services to the satisfaction of the consumers.
• Consumer awareness means being conscious of having knowledge about the various consumer production laws, redress mechanism and the consumer rights which include right to protection of health and safety from goods and services that the consumer buy, right to be informed about the quality, price, potency, purity and standard of good, right to choose the best from a variety of others, right to get representation if there is any grievance or suggestion, and right to seek redress against unfair trade practice or unscrupulous exploitation