Business can survive only by consumer consent and acceptance. There is an imperative need for building consumer trust and confidence because both the business and the consumer, though independent entities, yet are inseparable. In the modern context, consumer is the king.
Therefore, going forward, irrespective of the various laws and regulations binding both, it is necessary to have a sustained relationship at all levels between the customer or consumer and the business. When consumers feel that the business has let them down, misunderstanding of business and ever-increasing expectations combine to form the cornerstone for consumerism.
The fundamental principle of contemporary business lays emphasis on consumerism as the means to gain a competitive advantage in the market by providing better service to the consumer or customer. According to Philip Kotler, consumerism offers a number of opportunities to the marketer. He points out....
