MKT 350 Lecture Notes - Lecture 5: Federal Communications Commission, Price Discrimination, Consumer Protection
Document Summary
The legal environment includes anti-monopoly laws, consumer protection, The sherman anti-trust act was passed to break up monopolies and ensure competition. The robinson patman act involved price discrimination and required like quality/like quantity goods to be sold at the same price for all customers. The magnuson and moss act involved making warranties accessible for customers. Regulatory agencies include the food and drug administration, which monitors packaged foods, food labels, and other foods and pharmacy drugs sold to consumers. The fda provides rigorous testing for new drugs and pharmaceutical products. The ftc is the federal trade commission, which prevents deceptive practices such as advertising and finance options in order to protect consumers. The fcc is the federal communications commission, which watches broadcasts and determines what is acceptable for what is advertised. States and towns have their own regulations regarding advertising, permits, etc.
