The Principle of Consumer Education and Information

An effective marketing system invests heavily in consumer education and information to increase long-run consumer satisfaction and welfare. The principle of economic efficiency requires this investment, especially in cases where products are confusing because of their numbers and conflicting claims. Ideally, companies will provide enough information about their products. But consumer groups, regulatory agencies and government can also give out information and ratings. They should encourage more access to the media for the arguments for or against consumption of goods or services, where neither businesses nor customers are behaving responsibly.

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  • charles
    What are the principles of consumer education?
    1 year ago

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