Same market pressures of intense competition, high accountability and unbearable cost of misadventures have led to aggressive marketing techniques in terms of intense advertisement of a product, lowest possible margins of profit for retail sectors due to a belief in volume and unmanageable diversification to meet near-personal requirements of specific clients like urban children, middle-class women, elite class luxuries etc. These marketing techniques have to a certain extent had an adverse impact on the ethics of marketing strategies, and sole aim of business in most cases is the profit on the balance sheet rather than actual consumer satisfaction.
I remember one placard in a shop which said, “ In this age of fast-moving products, don’ t expect quality. ” No wonder consumer rights and its awareness among the populace have assumed such gigantic proportions today. With experience, this dissatisfaction has also led to an equally aggressive retort by the consumer to the extent of offsetting the lobbyists among lawmakers and bringing in various kinds of consumer protection laws and forums for resolution of disputes. Today, the punitive actions awarded against guilty companies in most consumer cases are so prohibitive, that they result in a complete shift in the very market strategies of companies in favor of the consumer. In normal terms, the offences against consumer mean various acts of commission or omission by the manufacturer, distributor or retailer through fraudulent behavior, neglect, denial of information and other such acts leading to a direct or an indirect loss to the consumer and even society as a whole, which could have been prevented in the first place through avoidance of negligence while manufacturing, marketing or retailing the product. Unfair Trade Practices.
These are generally intentional frauds or misrepresentation of a product and falsely tempting a consumer to invest in a product despite knowledge to the seller regarding its limited utility.
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