Question : Satisfied customers not only bring repeated sales but also add new customers by providing good feedback about the firm.Which importance of consumer protection is highlighted in the given statement?
Option 1: Long term interest of buisness
Option 2: Business uses society resources
Option 3: Social responsibility
Option 4: Moral justification
Correct Answer: Long term interest of buisness
Solution : In this highly competitive world enlighted business firms have realise that they can exist in long run only when they satisfy the consumers. So business should meet long term profit maximization through customers satisfaction.
Hence, option A is correct.
Question : It is the moral duty of business to take care of consumers interest. Which importance of consumer protection is highlighted in the given statement?
Question : Business firms today at long term profit maximization through customer satisfaction.sellers.Which importance of consumer protection is highlighted in the given statement?
Question : The interest of the stakeholders should be well taken care of. Which importance of consumer protection is highlighted in the given statement?
Question : Government is actively involved in the protection of consumer rights. Which importance of consumer protection is highlighted in the given statement?
Option 3: Government intervention
Question : It is businessmen responsibility to supply such products and renders such services which are in public interest. Which importance of consumer protection is highly in the given statement?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile