Consumer Law and Challenging Business Environment (Published)
Consumer Law defines the parameter that helps to protect the consumers from unfair practices of sellers. In this regards, the law attempts to protect the consumers from unfair pricing and delivery of low quality products. Every country has a governing body the helps to protect the public by actively monitoring and evaluating the sellers’ activities. However, during the transition of saving the consumers, the law creates challenges for the businesses. It is evident from the research and its findings that consumer law affects a business in conflicting ways. A business needs to reform its operational practices as well as the pricing structure to ensure delivering superior quality products for an economical as well as competitive price. Adhering to consumer law practices, however, increases the costs of the business that creates multiple challenges in successful execution of the company’s strategic implications. Moreover, consumer law puts certain restrictions on business activities that adversely affect the business’s ability to market its products effectively.
Keywords: Consumer Law, Consumer Protection, Fair Trade Act, Gross margin, Marketing Restrictions, Price Equality, Profitability, marginal productivity