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Consumer education is the preparation of an individual to be capable of making informed decisions when it comes to purchasing products [1] in a consumer culture. It generally covers various consumer goods and services, prices, what the consumer can expect, standard trade practices, etc.
The right to consumer education states that consumers should be able to acquire knowledge and skills needed to make informed, confident choices about goods and services while being aware of basic consumer rights and responsibilities and how to act on them.
A Home Economics instructor giving a demonstration, Seattle, 1953 A training class 1985 at Wittgenstein Reifenstein schools. Home economics, also called domestic science or family and consumer sciences (often shortened to FCS or FACS), [1] is a subject concerning human development, personal and family finances, consumer issues, housing and interior design, nutrition and food preparation, as ...
George Moschis and Gilbert A. Churchill Jr posit that mass media, parents, school and peers are all agents of consumer socialization. According to this theory children and young adults learn the rational aspects of consumption from their parents while the mass media teaches them to give social meaning to products; schools teach the importance of economic wisdom and finally peers exercise ...
Consumer interests can also serve consumers, consistent with economic efficiency, but this topic is treated in competition law. Consumer protection can also be asserted via non-government organizations and individuals as consumer activism. Efforts made for the protection of consumer's rights and interests are: The right to satisfaction of basic ...
Consumer information is the most important element for consumer protection and policy decisions. It is the solution to issues ranging from online transactional threats, behavioural targeting, loss of privacy and other problems. [5] A consumer should treat every purchase as an important investment.
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Social value: The extent to which owning a product or engaging in a service allows the consumer to connect with others. Psychological value: The extent to which a product allows consumers to express themselves or feel better. For a firm to deliver value to its customers, they must consider what is known as the "total market offering."