"A business should not be held responsible for providing customers with complete information about its products or services; customers should have the responsibility of gathering information about the products or services they may want to buy."
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The issue talks about two different methodologies, first the business providing information about its products and the second, customers gathering information to purchase a product. Let’s discuss the pros and cons of these two scenarios.
The sources available to customers for gathering information are independent product analyzers, government nominated regulators and customer reviews. Since these organizations are independent they provide more reliable information. But just providing reliable information wouldn't meet what customer wants to know about a product. Like for example the famous juice brand Tropicana publishes the pulp category, which might be of little significance to a regulator but will drive the customer. Thus though information gathered by customer might be more reliable, every customer might not be able to find the information he is looking for.
In the scenario where the company publishes information about its product, the information could be biased. But the marketing strategies of a company will drive it to know the parameters a customer is looking for, and publish these parameters. For example Tropicana figured out customers priorities are based on pulp percentage and categorized their products accordingly and published this information. This methodology also has a flaw, marketing need might force a business to publish wrong information, This is where regulatory authorities come into play to control information by making certain information mandatory like ingredients in a product, precautions to be taken, alcohol percentage in beverages, warnings etc.
So the ideal scenario benefiting both the customer and the business would be the business publishing information, as directed by their marketing strategy and other sources validating this information like regulatory authorities and customer reviews.
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The issue talks about two different methodologies, first the business providing information about its products and the second, customers gathering information to purchase a product. Let’s discuss the pros and cons of these two scenarios.
The sources available to customers for gathering information are independent product analyzers, government nominated regulators and customer reviews. Since these organizations are independent they provide more reliable information. But just providing reliable information wouldn't meet what customer wants to know about a product. Like for example the famous juice brand Tropicana publishes the pulp category, which might be of little significance to a regulator but will drive the customer. Thus though information gathered by customer might be more reliable, every customer might not be able to find the information he is looking for.
In the scenario where the company publishes information about its product, the information could be biased. But the marketing strategies of a company will drive it to know the parameters a customer is looking for, and publish these parameters. For example Tropicana figured out customers priorities are based on pulp percentage and categorized their products accordingly and published this information. This methodology also has a flaw, marketing need might force a business to publish wrong information, This is where regulatory authorities come into play to control information by making certain information mandatory like ingredients in a product, precautions to be taken, alcohol percentage in beverages, warnings etc.
So the ideal scenario benefiting both the customer and the business would be the business publishing information, as directed by their marketing strategy and other sources validating this information like regulatory authorities and customer reviews.
