Consumer Behaviour, Satisfaction and Protection

Immense prominence of the consumers has necessitated the manufacturer/service provider to study their behavior so as to achieve their prime objective of maximization of profit by producing/providing the goods/services accordingly. Still partially or completely dissatisfied consumers' cry is alive due o deceptive trade practices of the market people. The legislations enacted by the governments to protect the interests of the aggrieved consumers seem to be dim due to the erosion of ethical practices by the market people and the lack of knowledge among consumer population about their duties and responsibilities. This article looks into the responsibilities of both the market people and the consumers in the light of ‘Caveat Vendor and Caveat Emptor’.