Innovations and consumer protection

Abstract

Consumer protection it's necessary to safeguard against deceptive, fraudulent, or unfair practices of products. In the contemporary world, a series of policies are implemented to protect the consumer from unequal market practices. The consumer is king, and many of his decisions influence the purchasing power. If you do not initially offer the consumer the product or service he or she wants, be sure that the next time he will find a better store where to buy. Consumers often demand product innovations, and large companies try to adapt to their needs. The faster they adapt and more innovative they are, the faster they become known to consumers. This example can be seen in the innovation and consumer protection policies applied by the worldwide states. The main objective of this paper is to o a review of the theoretical aspects of the consumer and consumer protection approaches, as well as anlyze the innovative aspect of the consumers protection. Moreover, the relation between the consumer protection and innovations is analyzed. The obtained results refers mainly to the such as the definition of notions and the analysis of strategies in this field, allowed the more successful understanding of the notions, as well as of the laws and policies implemented in the field of consumer protection. JEL: D18.