Question : Satisfied customers not only bring repeated sales but also add new customers by providing good feedback about the firm.Which importance of consumer protection is highlighted in the given statement?
Option 1: Long term interest of buisness
Option 2: Business uses society resources
Option 3: Social responsibility
Option 4: Moral justification
Answer (1)
20th Jan, 2024
Correct Answer: Long term interest of buisness
Solution : In this highly competitive world enlighted business firms have realise that they can exist in long run only when they satisfy the consumers. So business should meet long term profit maximization through customers satisfaction.
Hence, option A is correct.
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