Abstract:

The market invisible hand theory, term introduced in modern economic theory by A. Smith, establishing the underlying principle of maximising own sales revenues while meeting the requirements of maximising the revenues of the company, has been intensified in the modern predatory society and more and more cut-throat competition. The demand of society for market correction mechanisms, which have not ensured sufficient protection to consumers (as vulnerable market participants), has initiated the establishment of the legal sector of consumer protection. The right to protection against unfair competition has also contributed to the correction of market mechanisms. This protection was originally intended to ensure fair and just conditions of competition, thus contributing to consumer protection. The concept of consumer is also examined with particular focus on marketing consequences, i.e. what impact the given legal construct has on the position of consumer in modern marketing concepts. Therefore, the perception and assessment of selected components influencing the consumer rights awareness in the Slovak Republic (on the grounds of a research with the participation of a representative sample size of 1,820 respondents) are dealt with in the paper. The article provides a confrontation of the views of final consumers as the key actors in modern marketing management and the application of modern consumer protection law.