The importance of consumer protection from business point of view is:
(i) Government intervention: Government is actively involved in the protection of consumer rights. Any unfair trade practice would invite government intervention, which may hamper the image of business. So business organisations should voluntarily involve in such practices which protects the interest of the consumers.
(ii) Long-term interest of business: In this highly competitive world, business firms have realised that they can exist in the long run only when they satisfy the consumers. Satisfied customers not only bring repeated sales but also add new customers by providing good feedback about the products. So, business products should aim at longterm profit maximisation through consumer satisfaction.