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The merits of consumer awareness include being able to know counterfeit products, identifying the correct standard for products and avoiding overpaying for items. The demerits involve many legal issues with sellers and spending too much time going through the standards.
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Explain various pricing method with their merits and demerits?
The merits of the sampling methods takes the right products to the right customers. The demerit of this pricing method is that there are some goods which can't be sold therefore leading to losses.
What are the merits and demerits of consumer preference?
Consumer preference plays a crucial role in shaping market dynamics, as it drives demand and influences product development. On the merits side, it empowers consumers by allowing them to choose products that best meet their needs, fostering competition and innovation among businesses. However, a potential demerit is that it can lead to market volatility, as rapidly changing preferences may cause instability for companies and disrupt supply chains. Additionally, a narrow focus on consumer preference can sometimes overshadow other important factors, such as sustainability and ethical considerations.
What are the merits and demerits of advertisement?
Merits 1.some advertises present us useful products 2.some advertises present us time of films 3.some advertises show us great monuments
Importance of consumer awareness?
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 are some of the demerits of marketing information system?
consumers priorities are not met. 2) lack of technical know how is found in service agencies. 3) introducing multiple models in the market without knowing merits and demerits of previous models namaste
What are the merits and demerits of consumer awareness?
The merits of consumer awareness include being able to know counterfeit products, identifying the correct standard for products and avoiding overpaying for items. The demerits involve many legal issues with sellers and spending too much time going through the standards.
Explain the merits and demerits of advertising as an aid to trade?
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Merits-Everyone is Equal. Demerits-Everyone is Equal.
