Consumer Awareness

Importance of Consumer Awareness for New Age Businesses

calendar14 Feb, 2023
timeReading Time: 4 Minutes
Importance of Consumer Awareness for New Age Businesses

Consumer Awareness is a demonstration of ensuring that the purchaser or buyer is aware of the data and information about the items, products, administrations, and buyer’s rights. Consumer knowledge is critical for buyers to make the greatest option and make the best decision. Shoppers reserve the right to facts or information, the freedom to choose, and the right to be satisfied. Corporate social responsibility (CSR) has gained much study interest in the recent decade as a reflection of a firm’s beliefs and ethics. The CSR-consumer relationship is a growing topic of research. Many experimental results have shown that CSR programmes influence consumer sentiments and purchase intentions—if consumers are aware of them. In addition to this, awareness programs have gained a significant push under the many rules that govern waste management in the country. For instance, the necessity for businesses to raise consumer awareness has grown since the introduction of Extended Producer Responsibility in electronic waste management.

Why Is Consumer Awareness Important?

The Consumer Protection Act of 1986[1] was enacted by the Constitution to protect customers from any promotional misbehaviour. The following are the reasons why consumer awareness is crucial today.

  • The consumer is the most important factor in many businesses. No firm can function without consumers, as their satisfaction is the primary purpose of any business activity.
  • Nowadays, conducting any business is not just about making money; it is also about transforming society into a better version by putting its welfare first.
  • Consumer protection rights promote a strong competitive market that supports financial progress. It protects acceptable or fair commerce or exchange from harmful exchange practices and deceptive entrepreneurs.
  • Shoppers are an important component of the market structure. It is critical to protect their privileges and rights in order to have a decent or fair market.

Benefits of Consumer Awareness Programs

A series of programmes established by a corporation that equips consumers and business customers with the information, skills, and abilities they need to be successful with a product is awareness of the consumers. In other words, it is the process of providing customers with the tools and information they need to become more knowledgeable buyers or consumers of your product or service.

Here are the steps to increasing customer awareness:

  1. Distinguish your brand’s or company’s offers from those of your competitors.
  2. Encourage referrals and testimonials.
  3. Create a client path map to establish your presence.
  4. Boost brand awareness.
  5. Carbon footprint reduction.
  6. Enhancing labour policies.
  7. Fairtrade participation.
  8. Giving to charity and participating in community service.
  9. Environmentally friendly corporate policy.
  10. Investments that are both socially and environmentally conscientious.

Consumers Awareness’s primary benefit is to on-board, engage, and retain new and existing customers. Pre-sales customer awareness helps the consumer discover the aspects of the product and form an opinion about how your product or service can suit their needs. Customer Awareness occurs after the sale and focuses on training the customer on how to use the goods.

Key benefits of Consumer Awareness: –

  1. Easier Onboarding of Consumers – Awareness enables customer success managers to serve every customer at scale by utilising primarily automated technologies. You will be able to onboard many consumers with the least amount of labour and resources this way.
  2. Reduction Of Support Cost – Another advantage of customer education is that it lowers support expenses. Support teams waste endless hours answering the same questions repeatedly, resulting in decreased work satisfaction and increased support expenditures.
  3. Consumer Loyalty – The more significant the perceived value of your product, the less likely customers would search for an alternative offering. When customers become loyal to a brand, the cost of goods sold for recurring purchases falls below the cost of obtaining a new client.
  4. Consumer Satisfaction – Customer education allows your customers to learn enough about your product, raising customer happiness while decreasing complaints and product returns.
  5. Brand Value – Many businesses avoid consumer awareness because they are afraid that educating their customers will inform them so much that they will shop and choose an alternative. As a result, consumers will have greater faith in your brand and will be more ready to reward you with positive feedback and promote you to others.

Requirements for Consumer Awareness

The requirements for conducting an awareness program are as follows:

  • Providing address, e-mail address, toll-free phone numbers, helpline numbers, and website information.
  • Providing information on hazardous constituents in electrical and electronic equipment, as defined in sub-rule 1 of rule 16.
  • Providing information on the dangers of inappropriate e-waste disposal, handling, unintentional breakage, damage, or recycling.
  • Providing directions for disposing of and handling the equipment after use, as well as Dos and Don’ts.
  • Including a visible, legible, and indelible mark on items or product user manuals prevents e-waste from being dumped in garbage cans containing waste for disposal.
  • Developing means and mechanisms for customers to return e-waste for recycling, including details of any applicable Deposit Refund Scheme.

Process of Conducting Consumer Awareness

The process of Consumer Awareness involves the following steps:

  • Locating the Target Audience – The procedure begins with determining the intended audience. Awareness campaigns can take several forms, including campaign vehicles, seminars, symposiums, and fairs.
  • Creating a message for Target Audience – Awareness campaigns are successful if they reach the public. The approach to such initiatives is also influenced by the masses’ location, age, gender, and educational level.
  • Resource Management – Proper management of available funds to get the most out of programmes using the given resources benefits businesses while also assisting in attaining the goal.
  • Appointing of Volunteers – Participation of important and local volunteers in awareness initiatives leads to more extensive participation and, as a result, increased possibilities of programme success.

Conclusion

Consumer Awareness is a demonstration of ensuring that the purchaser or buyer knows the data and information about the items, products, administrations, and buyer’s rights. Customers who buy from a socially responsible business feel good about supporting their community; the more socially responsible a company is, the more its community and customers keep it. Consumer knowledge is critical for buyers to make the greatest option and make the best decision. CSR attract customers through giving back in ways that help society and its surroundings. As a result, businesses benefit from the favorable image they create and better sell their products and services to their target customers.

Read Our Article: Top Benefits Of Having A Food License In India

Request a Call Back

Are you human? : 2 + 2 =

Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality