importance of consumer

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Without understanding the impact of consumer behavior, a company cannot hope to connect with niche groups of consumers or hold their attention long enough to make a sale, and they will certainly never build a loyal clientele. In the earlier times, it was mostly the domination of the sellers in the market and the consumer had no channel to highlight their issues and problems which have changed radically after the implementation of this Act. The role of a consumer (or of consumers in general) is important in an economic system because it is consumers who demand goods and services. There are Consumer Redressal Forums established in each district under this act which is also known as Consumer Court. Study of consumer behaviour helps to achieve this purpose. Moreover, every individual acts based on different factors. These forums address the problems faster than the normal courts.

A consumer is the one who assumes to be treated like a King as they bring business to the seller. One has to do with the The importance of consumer behavior is also evident when it comes to anticipating consumer wants and needs.

These roles are initiators, influencers, decider, users, buyers, and gatekeeper. It's possible to analyze and even predict consumer behavior and it's something that has to be done. There are several aspects that must be taken into consideration when analyzing the importance of consumer behavior. This is similar to consumer behavior. What is customer satisfaction. But instead of spending the money, people save it and the policy fails because the economy is not stimulated.

As consumers are the most important person for marketer or sales person, therefore it is important for them to consider the likes and dislikes the consumers so that they can … Thus, building a positive image of the product of a company related to the competitors and as well as help to beat them also.This is the seventh importance and it means that there are various roles played by the consumers in the consumer decision-making process. It is considered an important milestone in the legal history of India. There are periodicals, research papers, media reports and bulletins that are published now to understand this topic even further by different people and reaching out to the masses. If this was something that could be predicted, then many economic issues could be prevented. The importance of consumer behavior, especially in terms of properly interpreting that behavior, is crucial to the success of any type of business. It is considered an important milestone in the legal history of India. Companies make money when they are able to convince consumers that the products they offer will meet a need and possibly also fulfill some sort of want. It is important for a Consumer to have important support in purchasing the right goods and services and have their grievances redressed whenever they arise in some occasions.The first very important aspect of this Act is, that it clarifies on the point that who is a consumer? The Consumer Protection Act was passed in the year 1986. A Consumer is a person who buys goods and services for payment of any such goods or service.

It has also reduced the burden of huge court fees which had to be paid by the consumers earlier.There have been some landmark judgments like HDFC Bank v/s Balwinder Singh, New India Assurance Company v/s Abhilash Jewellers, LIC India v/s Gowram.
You may need to download version 2.0 now from the For example, there is an occurrence in economics where government gives people extra money to spend, to stimulate the economy. @turquoise-- I don't agree with you. Why customer satisfaction is important.

Here, the manufacturer addresses the need for a clean home while also fulfilling a want by including the pleasing scent that further makes the home comfortable for the consumer. You need to keep your customer satisfied. and who is the seller? These judgments have further strengthened the Consumer Protection Act with strong cases studies for future references.Another important achievement of the Consumer Protection Act is creating awareness about their rights among the Consumers. Previously “consumer was asked to beware” but these days fingers have been pointed to seller “let seller be beware” as due to policies introduced, governmentlaws, consumer protection, NGO and the increased competition in the market. Customer satisfaction is a kind of measure of how products or services provided by a company meet customer expectations. A Loyal Customer is a treasure you should keep and hide from the world. # The Importance of Customer Experience.

For example, a home cleaning product would need to meet the customer’s satisfaction in terms of effective cleaning, but may also appeal to a customer when a pleasant scent is added that helps to make the home more inviting. 5. We ask our Senior Research Executive, Emma, what ‘consumer research’ really means and what benefits it can bring to brands. I think that analyzing consumer behavior too much is useless because it changes fairly frequently.
Otherwise, a manufacturer will not be able to increase sales. The Consumer Protection Act was passed in the year 1986. I think that's very smart, it's catering to different types of consumers who behave differently. Impulse – Chocolates, tic tacs, ice cream.

Nowadays consumers are more value conscious and they want to extract the maximum benefits from a particular product of a brand. As a business owner, the biggest challenge that you face is ensuring that customers not only purchase from you but also to ensure that they do it repeatedly. I think it's very difficult to predict what consumers will do. Clear answers for common questions For example, if the economy is doing well in general, people are more likely to spend money.

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