It is hardly an exaggeration to conclude that information is the most important element in the whole range of consumer issues. If there were no information problem, not all consumer problems would go away; they would, however, be significantly reduced...
It is hardly an exaggeration to conclude that information is the most important element in the whole range of consumer issues. If there were no information problem, not all consumer problems would go away; they would, however, be significantly reduced. Furthermore, the solutions to the remaining problems would be greatly simplified.
Consumers who have information can look after their own interest. Improved consumer information is actually a form of consumer protection. But, the information, connected with Consumers' purchase activities in Market place, that Sellers do disclose through the seller-dominated Communication channels is assumed to be somewhat biased in their favor. In other words, the information gap between what is actually available to be known and what people need to know about consumer products is attributable that marketer stress what they can do rather than what consumer needs. So, Consumers may act against their own interests by insufficient information and people, further, do not establish consumer welfare society, desirable market economy system.
Therefore, to solve this problem and create consumer satisfaction from their efficient decision making, maintain sound market economy system, Government Consumer policy has been needed. Consumer policy may be categorized as protection, education and information. The focus of this paper is there should be a shift from the present protection toward information and education.
Government Activities Influencing the Flow of Information to consumers; (1) Encouraging and requiring business to provide information to consumers; (2) Ensuring that all information provided to Consumers, whether offered voluntarily or not, is accurate and not misleading; (3) producing and disseminating information to consumers on its own.
Government policymakers have typically adopted the view that consumers will seek "objective" information if the Government acts to make it available. However, a number of Studies have shown that consumers engage in very little overt search for information, even for expensive products. This lack of active search is often noted in explaining why Government, either through regulation or direct disbursement of information, has failed in the hoped-for impact on consumer behavior.
Government policy makers should take both these factors into account when they consider providing new information. First, they should not expect consumers to automatically seek and acquired and stored considerable product information. Second, sellers are skillful providers of information using both verbal and nonverbal method of communication. Consequently, government policymakers interested in altering consumer behavior through the provision of information must acknowledge that they are in competition with sellers for the attention of the consumer. These policy makers must either develop an expertise in communication skills or rely on performance standards and let the seller determine the best way to meet these standards.