Consumer education

Consumer education is the preparation of an individual through skills, concepts and understanding that are required for everyday living to achieve maximum satisfaction and utilization of his/her resources. It is defined as education given to the consumer about various consumer goods and services, covering price, what the consumer can expect, standard trade practice, etc. Such information may be relayed through magazines, websites or word of mouth. While consumer education can help consumers to make more informed decisions, some researchers have found that its effects can drop off over time, suggesting the need for education initiatives to be ongoing or periodically repeated.[1]

It is part of the formal school curriculum in many places and incorporates knowledge from many disciplines, including:

One magazine devoted to providing consumers with accurate reviews of products is Consumer Reports, not to be confused with Consumers Digest.

Six consumer rights

In order to safeguard consumer interest, six consumer rights were initially envisioned by consumer rights activists of the West, namely:

  1. Right to Safety
  2. Right to Information
  3. Right to Choice
  4. Right to be Heard
  5. Right to Redress
  6. Right to consumer education
Advantages of consumer education
  • Feedback for the business
  • Producers and sellers will not take consumers for granted
  • Government response
  • Consumer - Producer interaction
Consumer education involves three parties

See also

Consumer education issues

References

  1. ↑ Weeks, Clinton S.; Mortimer, Gary; Page, Lionel (September 2016). "Understanding how consumer education impacts shoppers over time: A longitudinal field study of unit price usage". Journal of Retailing and Consumer Services. 32: 198–209. doi:10.1016/j.jretconser.2016.06.012.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.