Consumer, the unprotected king
Former US President John F Kennedy, in his address to the Congress in 1962 said, “Consumers are the largest economic group, affecting and affected by almost every public and private economic decision. Yet they are the only important group, whose views are often not heard”. According to two well known Professors, Mr Jerry (Yoram) Wind and Mr. Vijay Mahajan“The consumer is king”. Consumerism means protection of rights and interests of common buyers, who consume goods at a massive scale. The movement of consumerism first started in the United States in the 20th century with the aim to protect consumers from poor quality goods, bait advertisements, imbalanced prices and faulty services.