In: Finance
Chapter Name: Ethics of Consumer Protection
Creative Question: (Note:This question have a requirements which is give with the question)
HOW ARE INDIAN CONSUMERS EXPLOITED? Explain in your own word .
(Requirement: You must include in this factors/topic : DECEPTIVE SELLING PRACTICES, FALSE AND MISLEADING ADVERTISEMENTS, DEFECTIVE QUALNY, HIGHER PRICES, SALE OF HAZARDOUS PRODUCTS TO IGNORANT CONSUMERS, SUPPRESSION OF MATERIAL INFORMATION, FALSE PRODUCT DIFFERENTIATION, PRODUCERS'/SELLERS' COLLUSION, SUPPLY OF ADULTERATED AND SUBSTANDARD PRODUCTS,CHEATING CONSUMERS BY GIVING LESSER QUANTITY FOR THE PRICE,DISHONOURED GUARANTEES AND WARRANTIES, POOR REDRESSAL OF CUSTOMERS' GENUINE GRIEVANCES, MAKING CONSUMER BUY UNWANTED GOODS, CREATING A SCARE OUT OF SCARCITY, MISLEADING REPRESÈNTATION ON UTILITY OF PRODUCTS, MANIPULATING CONDMONS OF DELIVERY, CUSTOMERS PAY FOR NUMEROUS INTERMEDIARIES, FALL IN PRICES_NEVER PASSED TO CONSUMERS, BUYING UNAFFORDABLE GOODS, ADVERTISEMENT COST, COUNTERFEITS CONSTITUTE SUBSTANTIAL QUANTITY OF GOODS IN STORE SHELVES, HOARDING AND BLACK-MARKETING,TIE-IN-SALES,GIFTS FOR PRODUCTS/SERVICES)
1. False Advertising : Numerous makers cause deluding ads so as to sell their items or administrations. Their benefit rationale incites them to take part in misbehaviors and abuse of customers by celebrating the bogus advantages of their item or on the other hand administration.
2. Improper use of weights and measures: Numerous nearby retailers don't utilize standard loads and measures for gauging and estimating the items. They supplant loads with stones or sell their item by assessing its amount.
3. Unsatisfactory after sales service :Different electronic or electrical gadgets require an after deals administration to guarantee its appropriate working. On the off chance that the after deals administrations are not acceptable then the items stay at a higher danger of getting harmed.
4.Sub-standard quality : The merchandise sold once in a while are of low quality. The quality of an item decays after its expiry date or because of poor bundling.
5. Adulteration : All the time venders disintegrate the nature of an item by adding another substance to it so as to build its amount.
6.Hoarding of goods and black marketing : Venders now and again buy items in a tremendous amount with an aim to sell it later on at greater costs when the item is unavailable in the market and exceptionally sought after by the shoppers.
7. Charging higher than the actual price : A few retailers charge their customers more than the most extreme retail cost of the item.
8. Duplication of products : At times shoppers are abused as they are sold copy items which are professed to be authentic and bona fide by the vender.