Consumer Awareness is to make the customer or user of the product or service aware of the features of the same and empower the buyer or consumer with their rights.
Consumer awareness is important for the success of a product or service in the market.
It helps the consumer make the right purchase decisions at the right time, helping create a win-win situation for both parties.
Consumer Awareness or Consumer Education is a part of consumer rights and responsibilities.
It helps the consumer to protect him from exploitation by the seller or the company offering the products and services.
Consumer Awareness can also help protect buyers from dangerous or loss-making products or services.
Example of Consumer Awareness. As we see there are many products and services offering by a particular type of company online.
If you wish to buy an accessory online, you have online shopping websites like Craftsvilla, Amazon, Flipkart, and so on. Now being a consumer, it is obvious that you would be amazed to see the different pricing for different types of accessories in online stores.
Here, consumer awareness plays a role as you would be able to see the accessories offered by the online stores in the form of a photograph of the accessory or even you can get to read the review of other customers who purchased that accessory online by that store, which will help you make an informed decision.
Also, the display of accessories by different shopping websites helps you to compare the rates and quality of the products with other stores as well as local physical stores.
By Sahana Iyer