why is consumer awareness important?

Question

Importance of comsumer awareness, detailed answers

Answer 1

Many people think that big business or companies are the big players in the economy. There are two sides to the transactions that make the economy. Consumers as a group are the biggest player. Bigger than Microsoft, even bigger than the government. Consumers spend TWO-THIRDS of all the money spend in the American economy.

Consumer awareness directs that flow of capital.

Answer 2

Is that even a question?

If we look at it in a microeconomic model, the consumer should know the goods in the market in order them to choose their preferences - from leather shoes to hamburgers and such. And it is basically the market that's usually the ground on how information is well-disseminated to consumers.

In the firm level (supply side), they need to know what's in the minds of consumers so that they can get ahead of the game and adjust prices, tastes and other qualitative and quantitative aspects of the good. This is the competitive market approach. And this has been most monopolist's best asset - a full knowledge on that.

On the consumer side, it's said that it's about preferences. With a greater market open for them through information, they can maximize their needs and wants by correctly matching what the market can offer relative to what they want.

And this can lead to equilibria in the market. The conventional supply and demand model.

Answer 3

With every day pass, our country is getting into more and more trouble. The inflation, unemployment and falling value of dollar are the main concern for our Government but authorities are just sleeping, they don’t want to face the fact. Media is also involve in it, they are force to stop showing the real economic situation to the people. I start getting more concern about my future as well as my family after watching the response of our Government for the people that affected by hurricane Katrina.

According to recent studies made by World Bank, the coming crisis will be far worse than initially predicted. So if you're already preparing for the crisis (or haven't started yet) make sure you watch this video at http://www.familysurvival.tv and discover the 4 BIG issues you'll have to deal with when the crisis hits, and how to solve them fast (before the disaster strikes your town!) without spending $1,000s on overrated items and useless survival books.

Answer 4

It's common sense.
1. To protect yourself from vendors or companies that want to gyp you.
2. So that you can be aware of what you're buying. You want to know the quality of what you're taking home with you.
3. To make your conscience happy. You'll probably feel better buying fair trade stuff than from a company that exploits its workers/producers. Or from an organic farmer rather than someone who abuses the environment.

Answer 5

Because if there was no consumer awareness nothing would ever sell and therefore no money made and no economy.

It seems to me that you're doing an assignment. Try tutor2u.net or wikipedia.

Answer 6

It helps to be knowledgeable about a product before you buy it! Everyone claims their product is best, but doing research on it is even more helpful! Especially buying cars, I check out all the info, I possibly can so you have fewer surprises when you actually have driven it for a while.

Answer 7

2

Answer 8

1

Answer 9

Introduction
THE PROCESS of development along with the expanding globalization and liberalization process has increased the number of consumer related issues. Consumer protection has earned an important place in the political, economic and social agendas of many nations. In India, the Government has taken many steps including legislative, to protect consumers.
Education is a life long process of constantly acquiring relevant information, knowledge and skills. Consumer education is an important part of this process and is a basic consumer right that must be introduced at the school level. Consumers by definition include all citizens who are, by and large the biggest group, who are affected by almost all government, public or private decisions. The most important step in consumer education is awareness of consumer rights. However, consumer education is incomplete without the responsibilities and duties of consumers, and this influences individual behavior to a great extent.

Definition
Consumer awareness is making the consumer aware of His/Her rights.
Consumer awareness it a marketing term. It means that consumers note or are aware of products or services, its characteristics and the other marketing P's (place to buy, price, and promotion).

Need :
we need it so we will not be misled by producers, it explains if what we buy is worth to our money. and not harmful to us and to environment .
Many people are ignorant of their rights to get protected against the exploitation by so many others. So when there is a forum for such redress of grievances there seems to be no such exploitation by many; and becomes a rare one. So in order to get a clear picture of the level of exploitation of consumers, the awareness is required.

Role of producers
proper labeling, full information, health warnings, handling information, expiration date, etc. keep to requirements, norms, standards
label products according requirements, providing true facts
If they are providing a service they should carry it out with due skill and care. They must also make sure that any materials they provide as part of this service are fit for the purpose.
It is also illegal for a supplier to cut off, or threaten to cut off, supply to a reseller (wholesale or retail) because they have been discounting goods or advertising discounts below prices set by the supplier.


*Firstly The Meanings:-
.Consumer:- Someone who purchases a good for personal use.
.Awareness:-having knowledge of ; state of elementary or undifferentiated consciousness

After That You Can Right About:-
Consumer Awareness At School Level(This Is The Heading)

Consumer awareness at school level
The consumption patterns are changing fast and children today are very clear on their choices regarding food, clothing, cosmetics or accessories. Parents are increasingly permitting their children to take decisions when shopping. It then becomes very important for children to check details before buying products.

THE PROCESS of development along with the expanding globalisation and liberalisation process has increased the number of consumer related issues. Consumer protection has earned an important place in the political, economic and social agendas of many nations. In India, the Government has taken many steps including legislative, to protect consumers.
However, this is largely unknown to many citizens irrespective of whether they are educated or uneducated. With an enormous population along with high levels of poverty, unemployment and poor literacy levels, consumer awareness continues to remain low. Education is a life long process of constantly acquiring relevant information, knowledge and skills. Consumer education is an important part of this process and is a basic consumer right that must be introduced at the school level. Consumers by definition include all citizens who are, by and large the biggest group, who are affected by almost all government, public or private decisions. The most important step in consumer education is awareness of consumer rights. However, consumer education is incomplete without the responsibilities and duties of consumers, and this influences individual behaviour to a great extent. With the increasing changes in economic conditions, the children especially are becoming young consumers at an early age. Children must learn to obtain information about goods and services, understand the psychology of selling and advertising, learn to shop wisely and distinguish between wants and needs. They must also understand the alternatives of conserving and saving rather than buying and consuming.
Children are spending more of their leisure time watching television at the cost of other pursuits such as reading or sports. With the introduction of a number of specialised satellite channels, television enjoys a large viewership base consisting of children. Exposure to the marketplace as young shoppers has made most children aware of the different kinds of products that are available. Advertisements are no doubt an important source of information as they help to inform consumers about the availability of different products before making their choice. A majority of the advertisements are aimed at young children today, especially those covering food products, beverages and cosmetics (especially toothpaste/fairness creams). Advertising influences the food preferences and eating habits of children to a large extent.

The consumption patterns are changing fast and children today are very clear on their choices regarding food, clothing, cosmetics or accessories. Parents are increasingly permitting their children to take decisions when shopping. It then becomes very important for children to check details (for example, labels) before buying products. Children can be taught to shop wisely and a few simple precautions will ensure that they choose the right product at the right price. It is but natural that parents wish the best for their children, and strive hard to fulfil their demands. But this is not always a good idea as it affects both the parents and children in a negative way in the long run.
Consumer education also involves environmental education as it deals with the importance of conserving (natural resources) and sustaining (recycling and reusing) the environment, including the direct health effects of environmental pollution and toxic products on consumers.
Schools must incorporate consumer education into school curricula as it is important to impart the practical skills and critical ability needed to cope with social and economic changes.

Consumer Rights:-
Right to Safety

Means right to be protected against the marketing of goods and services, which
are hazardous to life and property. The purchased goods and services availed of
should not only meet their immediate needs, but also fulfil long term interests.

Before purchasing, consumers should insist on the quality of the products as well
as on the guarantee of the products and services. They should preferably purchas
quality marked products such as ISI,AGMARK, etc


After That Right Abouty Some Of The Tips:-
Are you an individual, a common man who toils day and night, up and down to earn three meals a day? If yes, then do you at times come home depressed with a look of betrayal on your face? There can be reasons like someone withdrew cash from your credit card and you have no clue how; the television you purchased for your family is not properly functioning, the shopkeeper refused to take the onus even though the TV is in the warranty period or somebody stole the information from your email account by hacking it?...this is the plight of today’s consumer, who at the end of the day comes back home defeated and cursing his fate and today’s world.
But one should never forget that God only helps those who help themselves. You can never be beaten unless you admit that you have lost; similarly no one can deceive you unless you let him do so. Thus, it is time for the consumers to wake up and realize that nothing will happen by sitting hands on hands, more than talking of action, one should believe in implementing or doing it. Howsoever one may try it is impractical to erase theft, fraud etc. form our society. In this case the only option left is to take preventive measures.
• The first and the foremost step for a consumer to prevent himself from cheating is to keep his eyes and ears open. Know or be aware of what is happening around you. Read the cases of various scams, thefts, burglaries, phishing scams etc. in that are highlighted in your local newspaper and also seen on television. This will keep you informed and conscious of what is going on and what can unfortunately even happen with you.
• Learn from the mistakes of your neighbors. If a shopkeeper has given a malfunctioning gadget to your neighbor, do not make the mistake of going to that shop. If somebody stole important mails from their mailbox, do make it a point to collect all your crucial mails directly from the post office.
• Never reveal personal identity to a stranger. You go for a morning walk and a man over their tries to be extra amiable even asks you to come home for lunch etc. does not imply that he wants your friendship or that he is a genuine person. So do not disclose your residence, telephone numbers, your workplace numbers etc. to him unless you gather complete information from a known person about him. Avoid giving personal details on phone. If you receive calls from unknown place that offers you some benefits and asks for your particulars, don’t be carried away by that. Tell your particulars only when you are sure that the call is genuine and that there is no other way out.
• Do not rely much on courier services. If you an access to the place where you have to deliver the parcel, take out some time and go yourself.
• Do not hand over your credit or debit cards even to your friends. It is foolish to trust someone blindly nowadays. Never tell your friends or colleagues to check your mails while you are holidaying with your family. It is not wise to let others know your password and mails.
• When you are out for shopping in the market, do not carry much cash. Keep the tentative amount and credit or debit card in case of emergency. This will not only help you do a regulated shopping but will also save you from many pitfalls.
• Before purchasing any commodity, always read the manufacturing date, the expiry date and the MRP carefully.
• Never forget to take all the bills and an assurance for the warranty period. Take the bills for each and every thing you buy and it is advisable to take things on a longer warranty basis even if you have to pay a little more for it.
• If while coming back home you lose your wallet, call up the police and register your complaint. This can protect you from the illegal use your documents by the one who picks them up. It is better that you de not carry your essentials every time you move out of the house.
• Keep all the emergency numbers (like the social security unit of your area, the police station number etc.) stored in your mobile phone. Also what is vital for your security is to keep a back up record in a diary of all the essential numbers in your phone and addresses. This will facilitate you with all the information in case you lose your mobile phone.