Explain the importance of Consumer Protection for businesses.
Consumer protection is essential for businesses because it helps in building long-term relationships with customers by ensuring customer satisfaction and trust. It prevents legal actions by complying with consumer laws, enhances business reputation, and helps businesses avoid penalties. A satisfied consumer base can lead to positive word-of-mouth, which benefits business growth. Furthermore, ethical business practices, encouraged by consumer protection, lead to a sustainable business model.
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Welcome to the NCERT Solutions for Class 12 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 4: Explain the importance of Consumer Protection for businesses.....
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