The focus of Corporate Social Responsibility is on two distinctive perspectives including social perspective and…
There is no specific law that offers common “consumer” definition. Specifically, a consumer is an individual who purchases a service or product for non-commercial and private usage. There are a majority of laws that are linked with the consumers as they differ in a way as they examine a consumer. Few of the laws comprise of small businesses that need business products, whereas other laws often exclude it. The act of trade practice consumer definition is one of the most commonly utilized. A consumer is an individual who acquires goods of a type which is considerably utilized for domestic, household as well as personal consumption and use
The term “Consumer Awareness” theoretically refers to a combination of the notions described as follows:
1. The knowledge of the quality of the product that consumer aims to buy. For instance, the consumer must be aware of the nature of the product if it is good in terms of health or not, if it is free of causing any kind of environmental hazard etc .
2. The awareness of various kinds of hazards and the problems related to marketing of the product. For instance, there are many ways of marketing your products such as through television advertisements or news papers, for which consumers must have ample education about the reverse effects of the advertisement. Contents must also be verified in any kind of advertisement.
3. The ken should also encompass the “Consumer Rights”. This implies that the consumer must be ware that they have a right to purchase the right kind of product. Moreover, if the product is faulty after the purchase, then the consumer must know how to claim compensation in accordance with the law.
4. Lastly, but importantly, the consumer must be aware of his/her own responsibilities i.e. the consumer must sway from any kind of unnecessary or wasteful consumption of the products and assets.