In this age of capitalism and globalization, consumer awareness is important in order for consumers to protect themselves from the profit-oriented businesses. Discuss.

 

Approach:

  • Introduce with the nature of marketing today
  • Highlight the need for consumer awareness
  • Conclude appropriately
Model Answer :

Due to open competition in the modern era, consumer-oriented market has slowly given space to an era of marketization which excessively rely on advertisement, offers etc. to attract consumers. This has necessitated the need to make consumers aware of his/her rights and duties.

Need and importance of consumer awareness:

  • To achieve maximum satisfaction: Due to limited nature of individual income, the consumers excessively rely on cheap and best product and services. A well aware consumer will be capable of taking informed decisions.
  • Protection against exploitation: Consumers are exploited in many ways such as underweighting, charging more than the market price, selling duplicate goods, misleading advertisements etc. Consumer awareness shields them from the exploitation by producers and sellers.
  • Control over consumption of harmful goods: Consumer education and awareness motivate people not to purchase harmful goods such as cigarette, tobacco etc.
  • Motivation for saving: A well aware consumer is able to discriminate between real needs and perceived needs.
  • Knowledge regarding solution of problems: It becomes necessary that the information about their rights should be provided to them so that they cannot be cheated by producers and sellers. Also, the awareness about the grievance redreassal mechanisms enable the exploited consumers to take recourse of these platforms to seek justice

Consumer awareness leads to consumer empowerment which is necessary to shift the balance in favour of them. The government of India is taking necessary steps to increase the awareness among consumers. “Jago Grahak Jago” Campaign, Using IT and Panchayats as a platform to increase awareness, regulator for advertisements, launching INGRAM portal etc. are few examples in this regard. NGOs and civil societies also can play an important role in creating awareness among consumers.

Subjects : Yojna summary

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