Apropos the article “It’s time for ‘seller beware’” (October 1), the writer’s call for a paradigm shift in marketing, especially in financial services, from “buyer beware” to “seller beware” is timely. The concept of “buyer beware”, borrowed from property laws, has been extended to all transactions. The writer has rightly suggested that the concept is an anachronism and must be replaced with “seller beware”. Although the customer continues to be the king, marketers still close the sale with the “buyer beware” tag. Even financial regulators, the Securities and Exchange Board of India and the Reserve Bank of India, have been mute spectators of misleading financial products even as sellers take advantage of supremacy of the “buyer beware” concept.
K V Rao Bangalore
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