The Consumer Protection Act‚ 1986 Introduction The earlier principle of “Caveat Emptor” or “let the buyer beware” which was prevalent has given way to the principle of “consumer is king”. The origins of this principle lie in the fact that in today’s mass production economy‚ where there is little contact between the producer and consumer‚ often sellers make exaggerated claims through advertisements‚ which they do not intend to fulfill. This leaves the consumer in a difficult position with
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Market Segmentation and Consumer Profile Segmentation is sometimes referred to as differentiated marketing. Instead of trying to sell just one product to the whole market as in mass marketing‚ different products are targeted at different segments. This is a form of niche marketing. To be effective‚ firms must research and analyses the total market carefully to identify the specific consumer groups or segments that exist within it. Below are some examples of market segmentation: Computer manufacturers
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segmenting consumer markets. Answer: Bases for Consumer Market Segmentation: There are number of variables involved in consumer market segmentation‚ alone and in combination. These variables are: Geographic variables Demographic variables Psychographic variables Behavioral variables By using any of these segmentation bases‚ either individually or in combination‚ an organization can construct market segments for evaluation to help them select appropriate target markets. Geographic
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Consumer Protection from Unfair Trading Regulations 2008: This act ensures that organisations treat customers fairly and honestly from the business such as it cannot use aggressive sales tactics or dishonest promotions that can influence on customers purchasing their products. It can effect on Apple as this business should treat all customers fairly such as the business cannot lie to their customers based on their promotions as it can become a breach of law and can lead to being sued by customers
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Market Analysis for case of Giant Consumer Products DATE: Nov‚3 ‚ 2014 TO: Professor. Tim Gilbride FROM: Xiaorong (Sharon) Yi‚ Tongbo (Tony) Cheng SUBJECT: The Sales Promotion Resource Allocation Decision _____________________________________________________ Purpose Statement This report determines that in order to generate short-term sales lifts‚ Frozen Foods Division (FFD) of Giant Consumer Product (GCP) should put Nature Meals on promotion. The recommendation is based on the analysis of existing
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CONSUMER MARKET AND BUYING BEHAVIOR Definition ●Consumer buying behavior:- ●Consumer Market:- Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers‚ therefore need to analyze the what‚ where‚ when and how consumers buy. ●Characteristic affecting consumers buying behavior ● SOCIAL ● PERSIONAL ● PSYCHOLOGICAL
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Consumer Market Profile Worksheet Page 1 of 1 1. Demographic market description: Describe the demographic details of your target market. The following items include general descriptive categories you might identify for your customers. Skip items which are not applicable and add items that are. • Age range • Income range • Sex • Occupation • Marital Status • Family size • Ethnic Group • Level of Education • Home ownership • Other 2. Geographic market description: • Area served
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Prepare a short fact sheet describing the Sale of Goods Act 1979‚ stating how it protects customers when they enter into contracts for goods. Use examples and/or case studies to illustrate the relevant implied conditions: * S12 - Title/Ownership * S13 – As described * S14 - Fit for Purpose * S15 – Satisfactory Quality The Sale of Goods Act 1979 is an Act of the Parliament of the United Kingdom which regulates contracts in which goods are sold and bought. The Act consolidates
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solicitation of consumers for credit cards and credit card lines. As mentioned in the article‚ the banks are advertising "promotions of credit card and debt to increase limits" in an attempt to gather additional consumers. I think by advertising these credit cards to college and high school students‚ and then providing them with higher credit limits and promotions‚ the banks are aiming to increase the number of irresponsible spenders in today’s society to make money. What responsibility do consumers have
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Fashion Buying Assignment 1 Student No. 00244644 Design Centred Approach V Market Centred Approach To begin with the difference between a market centred approach and design centred approach must briefly be discussed. A ’design-centred ’ approach is where the design is produced away from the user and then presented to them. This is the traditional view of fashion design and one in which the designer is given free reign and no contraints on cost or creativity. The choice of fabric for a line
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