Market self regulation assumes informed consumers that are smart enough to know what things mean. Also it assumes healthy competition and companies that are competing to make the best product at the chrapest price. It ALSO assumes brand lotalty isn’t a thing, and consumers are judging things purely objectively.
Like, i understand the idea, but in practice there are a ton of caveats.
Market self regulation assumes informed consumers that are smart enough to know what things mean. Also it assumes healthy competition and companies that are competing to make the best product at the chrapest price. It ALSO assumes brand lotalty isn’t a thing, and consumers are judging things purely objectively.
Like, i understand the idea, but in practice there are a ton of caveats.