Consumer Forum Gov

Consumers are often regarded as the king of the market. The sellers and business always try to lure consumers to buy their products or goods.

Long ago the sellers had the upper hand in driving the market and exploit the buyers or customers and force them to buy whatever the producers provided them.

This isnt the case anymore with more and more companies getting involved in the market thus giving the consumers a wide variety of choices. This has reversed the customer company balance and the customers now have the upper hand. The businesses and sellers are ready to minimize their profits in order to stay ahead of the competition and retain their customer base. Offers, promotions, schemes are just an example of the strategies and ways in which the producers are working in order to have a superior market share.

Having said this, the importance of customer feedback always plays vital role in deciding the market dominance. Companies or businesses are very eager to know that how do its customers rate them and what do they think about their products and services. If the reviews and responses are positive then it is good for them and they can use it as a free publicity tool to acquire new customers. But what happens when there are negative reviews or bad publicity it is that condition which every company would like to stay away from. This can make the potential clients go away and can cause the retained customers to getaway.