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Challenges facing consumers in the UK - Essay Example

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Consumers in the UK are often faced with a number of challenges.The challenges are due to a rise in energy prices,rise in housing,horse meat scandal,and unhealthy competition.Competition is the essence of life but more often,in competition,the market would always want to take advantage of consumers lest the consumers be protected from exploitation…
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Challenges facing consumers in the UK
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Download file to see previous pages Consumers in the UK are often faced with a number of challenges.The challenges are due to a rise in energy prices,rise in housing,horse meat scandal,and unhealthy competition.Competition is the essence of life but more often,in competition,the market would always want to take advantage of consumers lest the consumers be protected from exploitation This is why competition laws are instituted. Competition laws are about applying the law to ensure that there is an healthy competition between companies without interference with each other’s rights (Whish, & Bailey, 2012). The competition laws are also healthy because they protect the customer or consumers from harmful behaviors of ill mannered companies (Monti, 2007). Competition laws are fields of interests because they aid in creating a wide variety of choices for consumers that it widens consumers’ options, it encourages efficiency and enterprise, and it also helps in the reduction of prices and improvement of quality. Housing is a major setback to the citizens of UK. The value of houses is high for the common citizens. However, there are individuals and companies that have come up to set houses for rentals. These have created competition that is bringing competition. Competition helps in pushing for low prices that make goods and services accessible to all. This ensures that virtually everybody can get access to good housing thus an improvement in peoples’ livelihood (Cseres, 2005). ...
For companies to get good market share, they have to ensure that their products are of good quality. This is the one of the ways that a business can gain competitive advantage over their competitors. In this respect, better quality of goods and services could mean that companies would bring products that can last longer or serve their customers in a better way (Kokkoris, & Lianos, 2010). This could also mean better after-sale services, and a general friendly customer service. This would mean that customers are treated with respect and it also mean that customers are treated as ends in themselves but not as mere means of getting profits. Oil companies have been facing a number of challenges further transferring their costs and challenges to the final consumers. Putting competition laws into perspective also ensures that companies offer more choices to the market (Agnew, 1985). This means that companies would come with different options and different unique products which can meet the needs of their target market in an efficient way than the rest of the offers available in the market. Companies strive to meet these demands to command the market while offering better services with reasonable balanced prices (Zimmer, 2012). In order to maintain such standards as to deliver varied choices, a company has to be innovative so as to remain relevant to time and choices (Jones, & Sufrin, 2007). Innovation implies that companies constantly produce better products, their designs have to be improved, and products services and business techniques have to be appealing to the consumers (Henning-Bodewig, 2006). Better competition also helps in training business to remain relevant to the global economy and competitions. ...Download file to see next pagesRead More
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