Importance of consumer protection from the point of view of business:
(i) Long term interest of business: In the race of competition the businessmen can win and capture a big share in the market only when they are able to satisfy its customers by designing the products keeping in mind the requirements of customers. The businessmen who ignore the interest and satisfaction of customers, lose their goodwill and clients. So it is in the long term interest of business to keep its customers satisfied.
(ii) Businessman uses society's resources: Businessmen use the resources of society. They earn profit by supplying goods and services to the members of society so it must do something for "society. Businessmen are merely trustee of Iresources; they must use these resources for the benefits of the consumers.
(iii) Government intervention: A business engaging in any form of exploitative trade practices word invite government intervention or action. This can impair and tarnish the image of the company. Thus, it is advisable that business organisations voluntarily resort to such practices where the customers needs and interests will be taken care of.