EBK CONTEMPORARY MARKETING
18th Edition
ISBN: 9780357158951
Author: Kurtz
Publisher: VST
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Chapter 14.6, Problem 1LO
Summary Introduction
To discuss: The legal constraints on pricing.
Business uses varies strategies to set the amount or value of funds that are required to buy a product is termed as price.
Expert Solution & Answer
Explanation of Solution
Legal constraints:
The decisions of pricing have more constraints imposed by state, federal and local government.
The most important legal constraints on pricing are as follows:
Robinson-Patman act: This law prohibits the
It prevent from selling low price than the normal price to drive the competitive marketers out of the business.
Unfair trade laws: It makes the sellers to maintain a minimum price for similar stock. This act was enacted to prevent the small shops.
Federal trade commission: This act is formed to prevent the unfair trade practices, anticompetitive, and deceptive marketing.
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