Businesses must lay emphasis on protecting the consumers and adequately satisfying them.
This is important because of the following reasons:
Satisfied customers lead to repeating sales and provide good feedback to prospective customers and thus, help in increasing the customer base of business.
Business organisations use resources which belong to society. They, thus, have a responsibility to supply such products and render such services which are in the public interest.
Consumers form an important group among the many stakeholders of the business and like other stakeholders, their interest has to be well taken care of.
It is the moral duty of any business to take care of consumers’ interests and avoid any form of their exploitation.
A business engaging in any form of exploitative trade practices would invite government intervention or action.