An informed consumer is capable of making sensible decisions by gaining an insight about a product prior to its purchase . This insight equips the consumer with the data to arrive at an evidence based conclusion. ... Information about the potential purchases can help the consumer save money and ensure a smarter purchase.
How do you become an informed consumer?
Simply ask what product is better and most salespeople will tell you the truth. Then ask how it is better and allow the salesperson’s knowledge of the product shine. Asking the right questions is important as asking non descriptive questions might have you leaving the store with more questions that you came in with.
What is the meaning of informed consumer?
An informed consumer is capable of making sensible decisions by gaining an insight about a product prior to its purchase . This insight equips the consumer with the data to arrive at an evidence based conclusion. ... Information about the potential purchases can help the consumer save money and ensure a smarter purchase.
Why should a consumer be well informed?
Consumers must be well informed: 1. Consumers can be sold adulterated good, defective products or wrong quantity to increase profits of the sellers. ... A well-informed consumer would know about the legal rights that protect him/her from such exploitation .
How do you become a wise and well informed consumer?
Being a wise consumer involves asking others for referrals along with doing your own research when making purchases . You should also investigate stores’ return policies and stick to your budget to avoid financial problems from your shopping habits.
What are the main sources of consumer information?
The major sources of consumer information are personal contacts, business organizations, media information, independent testing organizations, online sources, and government agencies .
Which are the consumer rights?
- Right to safety. Means right to be protected against the marketing of goods and services, which are hazardous to life and property. ...
- Right to choose. ...
- Right to be informed. ...
- Right to consumer education. ...
- Right to be heard. ...
- Right to Seek redressal. ...
- Consumer Protection Act. ...
- Ask Yourself!
What are two steps to becoming an informed consumer?
- Consider the Source. ...
- Be Skeptical of Sensational or Shocking Claims. ...
- Evaluate the Research Methods. ...
- Remember That Anecdotes Do Not Equal Data. ...
- Consider Who Funded the Research.
What are the problems with consumer movement?
The consumer redressal process is becoming cumbersome, expensive and time consuming. Many times, consumers are required to engage a lawyer . These cases require time for filing and attending the court proceedings, etc. In most purchases, cash memos are not issued, hence, evidence is not easy to gather.
What are the problems of consumer?
- Faulty products. What to do when something doesn’t work, breaks easily, or doesn’t do what you expected...
- Refund, replacement, repair. ...
- Repair damage after normal use. ...
- Shop breakages. ...
- Poor quality or incomplete work. ...
- Delivery issues. ...
- Overcharging. ...
- Misleading prices or advertising.
What are the responsibilities of a consumer?
- Be Aware. Gather all the information and facts available about a product or service, as well as, keep abreast of changes and innovations in the market.
- Beware. ...
- Think Independently. ...
- Speak Out. ...
- Be an Ethical Consumer. ...
- Complain. ...
- Share Experience. ...
- Respect the Environment.
How consumers are benefited?
Benefits for Consumers under the Act:
Consumers are protected against the marketing of goods and services which are hazardous to life and property . Consumer sovereignty in the choice of goods is guaranteed. Consumers are entitled to a speedy, simple, and inexpensive relief under the act.
What is the Consumer Protection Act?
The Consumer Protection Act, implemented in 1986, gives easy and fast compensation to consumer grievances . It safeguards and encourages consumers to speak against insufficiency and flaws in goods and services. If traders and manufacturers practice any illegal trade, this act protects their rights as a consumer.
What are the duties of a well informed consumer?
- While purchasing the goods, consumer should look at the quality of the product, the marked price, guarantee or warrantee card/period.
- Consumer should preferably purchase standardise products which contain seal of ISI or Agrmark.
- Consumer should ask for a cash-memo and warrantee card.
What are the benefits of being wise and well informed consumer?
- Save Money. Best purchase for least about of money.
- Protect their health. Not persuaded to buy products and services that are worthless or harmful.
- develop a high level of self-confidence. They are able to speak for their rights.
What is the cost benefit of buying slightly outdated products?
Describe the cost benefit of buying slightly outdated products. There’s very little difference in quality and performance of slightly outdated products . However, the price difference may be significant.
