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WEEK 6.
TOPIC: CONSUMER MARKET AND SOCIETY
CONTENT
Meaning of consumer: A consumer can be defined as any person or corporate individual that purchases a product for immediate personal use. A consumer is an end user of a product.
Meaning of market: This can be defined as any arrangement (personal or impersonal, formal or informal) which facilitate the exchange of goods and services for money. Market is where buyers and sellers come together to exchange goods and services for payment.
Meaning of society: is the collection of people living together in a more or less ordered community. It is an organization or club formed for a particular purpose or activities. It is also a situation of being in the company of other people.
Meaning of consumer education: consumer education is a process by which consumers get the necessary enlightenment that will help them to make best decisions when purchasing goods and services. It is the preparation of an individual through skills, concepts and understanding that are required for everyday living to achieve maximum satisfaction and utilization of its resources. It is also defined as education given to the consumers about various consumer goods and services, covering price, what the consumers can expect and standard trade practice.
Need for consumer education
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