Question

Is business meeting it’s responsibilities to consumers with regard to safety quality pricing and labeling and packaging of its products? If not how might the business do better? provide examples

Answer 1

Solution: Business is a very wide concept. There are many dimensions of business. The primary concern of any business is to make profits by serving the customers via providing them various products and services which is of the perceived value and use to the customer. The business must fulfil the responsibilities to consumers with regard to the safety, quality, pricing, and labeling and packaging of its products as they are the key factors for success of any product. The adherence to these factors satisfies the customers in term of usage and value for money. But adherence to these factors only will not serve the purpose.

The businesses also have some other responsibilities which should be taken care of. These are the responsibility towards the society and environment.The businesses should take proper care for safeguarding the environment. To do so they must comply with various environment standards laid by the authorities. They should also show active participation in the corporate social programs. This can be done by indulging in various activities like educating the backward classes, health camps etc.

Several other ways to improve the business are as follows:

• Gather the current customer feedback about packing , price, safety etc.

• The reaction of customers can be evaluated.

• What consumers are required or future change in the products

• You can have the benchmark result.

• The same type question can be asked which will be helpful to analysis of the product. For example reaction on skin of hand of consumers, quality of clothes colours and softness in washing powder case.

• Brand image – it can be increased in the consumer market.

Hence, the factors to improve the business are mentioned above.