The role of a consumer (or of consumers in general) is important in an economic system because it is consumers who demand goods and services.
When they do this, they make it so that other people can have jobs making the goods and services the consumers want.
What are the 5 responsibilities of a consumer?
Consumers have five responsibilities: critical awareness; action; social concern; environmental awareness; and solidarity. But generally speaking, the fundamental duty of every consumer is to know their rights.
What are the roles of consumer in marketing?
Although the company is the main catalyst in the marketing of its own products and services, consumers also play a role in the marketing process. Understand the roles consumers play so you can maximize the effectiveness of your marketing plan.
What is the role of the consumer in the free market economy?
It contributes to economic freedom and transparency. It ensures competitive markets. Consumers’ voices are heard in that their decisions determine what products or services are in demand. Supply and demand create competition, which helps ensure that the best goods or services are provided to consumers at a lower price.