There are several federal laws that affect marketing regarding the competitive environment, pricing practices, and false advertising. Name and briefly describe three of these federal laws.
What will be an ideal response?
Exhibit 4.4 describes the primary U.S. laws that affect marketing, and students can discuss any three of them. The Sherman Act (1890) outlaws trusts, conspiracies, restraint of trade, and monopolies. The Clayton Act (1914) outlaws price discrimination and tying contracts. The Federal Trade Commission Act (1914) created the FTC to deal with antitrust matters and outlaws unfair methods of competition. The Lanham Act of 1946 is the United States' primary trademark legislation. The Celler-Kefauver Antimerger Act prevents corporate acquisitions that reduce competition. The Hart-Scott-Rodino Act requires large companies to notify the government of their intent to merge. The Robinson-Patman Act (1936) prohibits charging different prices to different competing buyers and requires sellers to make services/allowances available to all purchasers on a proportionately equal basis. Also, the Clayton Act outlaws discrimination in prices to different buyers. The Wheeler-Lea Amendment to the FTC Act (1938) broadens FTC powers and outlaws false and deceptive advertising.
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A) customers B) competitors C) other forces in the marketplace D) all of the above
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A. Taxes Payable B. Bonds Payable C. Retained Earnings D. Common Stock