What are the characteristics of an informed consumer?
informed consumers are aware of what is inside the product they have bought, they ask questions and have knowledge about the risks and benefits of the product
Consumer awareness is making the consumer aware of His/Her rights.It is in a consumer's best interest to have a high awareness of the products he/she buys. Higher awareness can lead to saving money and/or improving the quality of the goods purchased.If we look at the opposite scenario, a poorly-informed consumer will spend more money on products that provide less utility to the consumer, and there can be a loss, either private or social.
What principles outlined by President John F. Kennedy in 1962 became known as the Consumer Bill of Rights?
The rural consumer differs from the urban consumer in that they are more likely to make a trip into town to purchase merchandise less frequently due to distance. The rural consumer may be more willing to use convenience services such as purchasing online in order to save time and the expense of a trip.
Clearly one of most positive impacts of advertizing can be summarized in this way: A. Assuming the advertized product is safe and is a help to the consumer, the positive is that the consumer is informed about a new product; B. Adverizing a product brings to attention perhaps a new and improved product to help the consumer; and C. The company making a "good & beneficial" product enhances its reputation in the world.
The 4 additional rights that were added to the original Consumer Bill of Rights are the right to satisfaction of basic needs, the right of redress, the right to consumer education and the right to a healthy environment. The 4 original rights are the right to safety, the right to be informed, the right to be heard, and the right to choose.
The process of implementing a systematic plan to make informed consumer decisions based upon specified needs and wants for maximizing personal satisfaction is what?
Salient Features of Consumer Protection Act are as follows: 1. The Act acknowledges six rights of the consumers: v Right of Choice v Right to safety v Right to be Informed v Right to be Heard v Right to Redress, and v Right to Consumer Education 2. The Act Provides for the establishment of: v Central Consumer Protection Council at Central Levels v The State Consumer Protection Council at State Levels, and v Consumer Disputes…