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Consumer's Suffering In Bangladesh And To Protect Their Rights

8073 words - 32 pages

INTRODUCTIONIn terms of market behavior Bangladesh is in transition. Neither consumers nor producers are to be seen as absolute king here. The volume of low quality and fake goods prove ignorance and weak bargaining power of the consumers. Again the increase of advertisement of better goods indicates competition in producers level and selectivity of buyers. In Bangladesh competition among the producers as well as consumers' awareness are increasing. Therefore, with the advertisement any item may raise its sells but if the product lacks the desired quality soon it becomes unpopular. Even when any newly launched product or brand becomes popular in the market, some dishonest traders duplicate the product or brand and cheat the consumers and thus tarnish the image of the popular product or brand which looses its goodwill.Unscrupulous traders and manufacturers usually exploit customers by charging higher artificial price, lucrative advertising, packing the poor quality products with attractive covers, etc. In an economy where quality fails to play the key role, adulteration and fake products dominate the market, it is not only the consumers who suffer, so do the honest traders and manufacturers. The situation is different in a largely competitive and developed market, whereas the later scenario is characteristic of initial stages of developing market. Here the innocent, simple and illiterate population is revolving in a vicious cycle of poor quality and often adulterated goods. They are often cheated in price with false weights and measures and price hike. The vast mass of illiterate and uninformed consumers, due to lack of proper knowledge, fail to distinguish between real and fake products and ultimately loose faith in the product or market that causes continuous shift in their choice. As a result products of honest and quality producers suffer and their sales decline.Reasons for such imperfection of market economy in Bangladesh are many. However some key reasons may be identified as illiteracy and ignorance of consumers, want of government surveillance, inadequate provision of law, lack of vigilance on the part of manufacturers association, lack of standardization of product, and absence of strong consumer movement.PART 1 :CONSUMER'S SUFFERINGS IN BANGLADESHCompetition policy, dominant firms monopolies, mergers, anti-trust consumer concerns and matters like that may, on the face of it, appear to be of somewhat distant interest in the present context of Bangladesh. Consumers in general also seem to be rather unconcerned about these at the moment. True, there have been in existence a number of state owned natural monopolies in the utilities sectors like electricity, natural gas, water supply in municipal areas, telecommunications, railway, ports and so on, but somehow the consumers seemed to have got accustomed to the unredeemed inadequacies of their management and often at high cost. On the other hand, state owned monopolies or quasi monopolies in...

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