they take advantage of their lack of knowledge of the product.

Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.

a. It ensures a competitive market and allows for individual differences among consumers.

a. It ensures a competitive market and allows for individual differences among consumers.

One advantage to the hospitality industry is the fact that they provide consumers with a place to stay away from home. A disadvantage is the fact that the standards for the industry are different and consumers don't know what to expect with regard to sanitation.