The consumers expect courteous services and fair dealings from the business. Consumer’s satisfaction is the ultimate aim of all economic activities. This involves more than the offer of the products at lowest possible price. There are several types of services which are offered by the business firms to their consumers or clients. The significant services may include the following:
- Financial services
- Advertising service
- Consumer support service
- Courier services
- Hotel services
- Communication services such as STD, ISD, local phone, etc.
- Airline services
- Banking services
- Health services
The aim of every consumer is to get maximum benefits from his investments. When a consumer gets maximum satisfaction by spending his income over different commodities, he will find no urge to change his pattern of consumption. Thus when a consumer gets maximum satisfaction out of his scarce resources it is referred as consumer’s equilibrium so that he has no intention to make any change in his expenditure.
Consumer’s equilibrium is based on the following assumptions which are: consumer is rational, income of the consumer and the price of commodity remains fixed, goods are neither complementary nor substitutes of one another, taste i.e. preference of consumer does not change, consumer has the perfect knowledge about various choices which are open to him and how much utility he is likely to get from his expenditure on different goods. But sometimes due to limited resources, a consumer is unable to satisfy all of his wants. Adulteration of goods, poor quality, failure to give fair measure, lack of service and courtesy to the consumer, dishonest advertisement, etc. are some of the examples of violation by business and enterprise of its obligations towards consumers of its products.
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