According to the Consumer Protection Act 1986, the consumer right is referred to as ‘right to be protected against marketing of goods and services which are hazardous to life and property’.It is applicable to specific areas like healthcare, pharmaceuticals.
The right to information is defined as ‘the right to be informed about the quality, quantity, potency, purity, standard and price of goods or services, as the case may be so as to protect the consumer against unfair trade practices’ in the Consumer Protection Act of 1986.
Consumerism is a social as well as economic order which encourages the buying of goods and services in ever-greater amounts. This term is sometimes associated with critics of consumption beginning with Thorstein Veblen. Veblen's topic of examination.
The Airline complaint is any kind of formal complaint being filed by an airlinecustomer either against the airline responsible for the grievance or the office of government responsible for ignoring the airlines national industry. The complaints of Airline usually pop up due to problems experienced while travelling which are left unresolved at that particular time.
Better Business Bureau
The Better Business Bureau (BBB), found in 1912, is a non-profit organization that focuses on developing marketplace trust. The BBB gathers and gives free to the public, the reviews on business reliability for more than 4 million businesses to 100 million requests made by consumers in 2012 that helps and make the BBB's website rank among top 400 most-visited websites in US. The BBB works as a trusted mediator between businesses and consumers, and handles about 1 million consumer disputes against businesses. The BBB bewares the public to reviews, scams, advertisement and helps while donating charity.
Competition law, called as antitrust law in US, is a law that promotes or maintains market competition by checking anti-competitive attitude of companies. Historically, competition law dates back to the Roman Empire. The business practices of guilds, market traders and governments are a subject to scrutinize and severe sanctions sometimes. The competition law became global since 20th century. The two biggest as well as most influential systems of regulating competition is US antitrust law and European Union competition law. The regional and national competition authorities throughout the world have created international support as well as enforcement networks.
A customer complaint is “an expression of dissatisfaction on a consumer’s behalf to a responsible party” (Landon, 1980). It can be explained in a positive manner as a report from a consumer providing documentation related to the problem with a service or product. Actually, few modern business consultants urge businesses to see complaints of customer as a gift. The Consumer complaints are basically informal complaints that address directly to a company or public service provider and majority of customers manage to sort out problems with services and products this way, however it needs persistence sometimes. So the consumer complaints should be considered as a feedback by the companies that further helps oin enhancing the quality of their products and protects them from bad word of mouth.
Food safety is a scientific discipline which describes handling, storage and preparation of food in a way that prevents illness related to food.It includes various routines that ought to be followed to do away with severe hazards of health. Food may transmit disease from person to person and serve as a growth medium for microbes like bacteria that might cause food poisoning. There are debates on genetic food safety including issues on food and environment which can disturb natural biological diversity. There are good standards of preparing food in developed countries while in lesser developed countries the major issue is the availability of sufficient safe water, which is generally a critical item. In the theory food poisoning should be 100% preventable.
Mandatory labeling or labeling is the required in consumer products to describe their components or ingredients. Moral purchasing along with issues like allergies are two things which are enabled by labeling. It is compulsory in major developed countries and increasingly in developing nations, basically for food products, like "Grade A" meats. As per the food and drugs, mandatory labeling is a main battleground between consumer advocates and corporations since the 19th century. Due to pastscandals having deceptive labeling, nations like the US and Canada need most processed foods having Nutrition facts label on the product and the table's formatting and stuff must define strict guidelines. The European Union equivalent is a bit different Nutrition information table, which might also be supplemented with icons that are standardized and indicate the presence of allergens.
Online Complaint Management System
Online Complaint Monitoring System (OCMS) is a system run by Mumbai city, India. A Complaint Management System is a new productivity enhancement tool used commonly by all organizationswherever there is a requirement of booking of complaints through operators and evaluation of complaints made or still pending.
A product recall is a request to give back to the manufacturer a batch or a complete production run of a product, because of safety issues. This recall is an attempt to lessen liability for corporate negligence which might cause costly legal penalties and to avoid loss to publicity. Recalls are costly for a company as they often entail replacing the recalled product or pay for damage caused by use, however possibly less expensive than consequential costs created by damage to brand name and trust reduced in the maker. For example Nokia did when there was a problem of explosion of batteries in Nokia’s mobile phones.
There are some markets that need the level of privacy, trust and honesty among its participants as the FX market. This forms great obstacles for investors, traders and institutions to do away as there is a transparency lacking. Having little or no transparency trader’s efficiency to verify transactions have been becoming virtually impossible. There is no trust found between the broker or the client without transparency. A company like Fair Trading Technology and their T3 Integration Bridge permits traders to trade with transparency and efficiency to evaluate that each trade forms it to the market.
Unfair competition here means that the competitors compete on unequal terms, due to favorable or disadvantageous conditions applied to few competitors but not to other ones or that the conduct of few competitors actively cause harm to the position of others with regard to their capability to compete on fair and equal terms. On the contrary, the fair competition, in which the similar rules and conditions are applicable to all participants and the competitive action of some of the participants does not damage the ability of others to compete. Sometimes, unfair competition refers to the gains of few participants who are conditional on the harm caused to others, when the benefits are made in ways which are unjust or illegitimate.