Question

‘Protecting the interest of consumer increase reputation of a unit’ – Explain

Answer 1

• Existence of business is impossible without customers. Customers form the axis of business. Without customers a business cannot exists.
• Interest of customers lie in obtaining good quality products and their after sales service. Customers also wish that they do not get cheated through equality, weight and measurement, adulteration, etc.
• If a business satisfies these requirements and takes care of customer’s interest it can gain their trust. On developing trust the customers associate themselves with the product and remain loyal. They prefer buying products/services of that brand and also publicize them among their associates. This overall increases the reputation of the business unit.