The Consumer Movement Exists Because Consumers Want to Be Treated

question 37

Essay

The consumer movement exists because consumers want to be treated fairly and honestly in the marketplace.Outline and explain the additional reasons for the existence of the consumer movement.

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Definitions:

Changing Market Tastes

The evolution or shift in consumer preferences and desires, influencing product innovation and marketing strategies in various industries.

Oligopoly Environment

An oligopoly environment is a market structure characterized by a small number of large firms dominating the market, leading to limited competition and potentially cooperative behavior among companies.

Competitive Advantages

Unique attributes or circumstances that allow an organization to outperform its competitors.

Excessive Business Profits

Refers to the disproportionately high earnings that a business may make, often seen as beyond what is considered fair or reasonable in relation to its production costs or societal contributions.