Question

( Please answer 1 to 23 in your own word respectively)

HOW ARE INDIAN CONSUMERS EXPLOITED-

1.DECEPTIVE SELLING PRACTICES,

2.FALSE AND MISLEADING ADVERTISEMENTS,

3. Exorbitant prices of products and services

4.DEFECTIVE QUALNY, HIGHER PRICES,

5.SALE OF HAZARDOUS PRODUCTS TO IGNORANT CONSUMERS,

6. SUPPRESSION OF MATERIAL INFORMATION,

7. FALSE PRODUCT DIFFERENTIATION,

8.PRODUCERS'/SELLERS' COLLUSION,

9.SUPPLY OF ADULTERATED AND SUBSTANDARD PRODUCTS

10.CHEATING CONSUMERS BY GIVING LESSER QUANTITY FOR THE PRICE,

11.DISHONOURED GUARANTEES AND WARRANTIES,

12.POOR REDRESSAL OF CUSTOMERS' GENUINE GRIEVANCES,

13.MAKING CONSUMER BUY UNWANTED GOODS, CREATING A SCARE OUT OF SCARCITY,

14.MISLEADING REPRESÈNTATION ON UTILITY OF PRODUCTS,

15.MANIPULATING CONDMONS OF DELIVERY,

16.CUSTOMERS PAY FOR NUMEROUS INTERMEDIARIES,

17. FALL IN PRICES -NEVER PASSED TO CONSUMERS,

18.BUYING UNAFFORDABLE GOODS,

19.ADVERTISEMENT COST,

20. COUNTERFEITS CONSTITUTE SUBSTANTIAL QUANTITY OF GOODS IN STORE SHELVES,

21.HOARDING AND BLACK-MARKETING,

22.TIE-IN-SALES,

23.GIFTS FOR PRODUCTS/SERVICES

Explain this factor in your own word.

Answer 1

DECEPTIVE SELLING PRACTICES

A deceptive trade practice is activity by an individual or business that is meant to mislead or lure the customers into purchasing a product or service. In here sales person sale a product thats quality standard are below than customers expected. Example claiming that goods are new or original if they are used or second-hand.

FALSE AND MISLEADING ADVERTISEMENTS

An advertisement that contains an untrue or misleading statement which was made knowingly with the intent to promote the sale of property, goods, or services to the consumer. the person gives information to another person and the person does so knowing that the information is false or misleading. Example Red Bull said it could "give you wings."

Exorbitant prices of products and services

Exorbitant price means product sell at the so much higher price than actual value of it. Example apple company products and services.

DEFECTIVE QUALITY, HIGHER PRICES

In here products or goods are sell at the higher price but the quality of the products or goods are not good enough.

Example Buying online cloths. In poster and real both product quality are different.

SALE OF HAZARDOUS PRODUCTS TO IGNORANT CONSUMERS,

In here product or goods are sell by giving some extra discount or some offers but the quality of product are hazardous.in here sales person sale with condition he or she are not accept the return of the product or goods after sales.

SUPPRESSION OF MATERIAL INFORMATION

Its means a jugglery, manipulation, maneuvering or misrepresentation of the information to personal benefits. original inforamation are suppression.

FALSE PRODUCT DIFFERENTIATION

In here sales person differention of their product verses other company product by giving false examples or intruduce good of their product and false of other company products.

Example sales man of car dealer company.

PRODUCERS'/SELLERS' COLLUSION

Collusion occurs when rival firms agree to work together. Example setting higher prices in order to make greater profits. Collusion is a way for firms to make higher profits at the expense of consumers and reduces the competitiveness of the market. so here producer or seller collusion and set high price of the product and sell it to consumers.