Explain briefly any two points of importance of consumer protection from the point of view of business.

Two points of importance of consumer protection from the point of view of business.

(i) Long term interest of the business: In the competitive environment, the businessman can win and capture a big share in the market only through consumer satisfaction. Those who ignore the interest and satisfaction of consumers may loose their goodwill and clients.

(ii) Social Responsibility: Just like other stakeholders, towards consumers also, businessmen has got social responsibility to provide quality goods at reasonable price. Consumer protection guides businessmen to fulfil social responsibility towards consumers.

(iii) Government Intervention: If businessmen want to avoid intervention of Government then they should not involve in unfair trade practices and exploitative practices towards consumers.

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