...P6 – Influences effecting Tesco and Great Ormond Street Political Political Stability Political stability is how secure the countries government is. There are many different factors that come into this including financial state, predictability and reliability. If a country has not got a stable political system, it will be affected and this will show. Tesco will be able to determine how well they will do depending on how stable the political system is. They will see the country’s plans for the future and be able to forecast how well they will do. If the country makes changes, for example to minimum wage, this could affect Tesco. If the government put the minimum wage up this will affect how much money Tesco have to pay out for wages. Also if Tesco want to open a store in a country, they will look at the political stability of the country which will determine whether they open the store or not. Great Ormond Street is also affected by political stability. If the country has good stability, Great Ormond Street will be able to get funding for their charity and hospital. Also if the country is stable, people will have more money to donate to GOSH. If the country is unstable, it will affect the decisions that the charity makes. Government support Government support means the way the government helps out the community by giving their support in order to help others. Things such as funding come from the government to help businesses grow. Tesco isn’t really helped out by...
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...Unit 3 – Introduction to Marketing – Limitations and constraints on marketing activities. SALE OF GOODS ACT 1979 - The Sale of Goods Act 1979 (as amended) is crucial for consumers because it refers to laws which have extended the basic 1979 Act and using the phrase tells the trader that not only do you know basic consumer law, you know it has been amended too. The Sale of Goods Act lays down several conditions that all goods sold by a trader must meet. The goods must be: * as described * of satisfactory quality * fit for purpose As described refers to any advert or verbal description made by the trader. Satisfactory quality covers minor and cosmetic defects as well as substantial problems. It also means that products must last a reasonable time. But it doesn't give you any rights if a fault was obvious or pointed out to you at point of sale. Fit for purpose covers not only the obvious purpose of an item but any purpose you queried and were given assurances about by the trader. CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 - There are three main sections in the Consumer Protection from Unfair Trading Regulations. These are as follows: * The general ban on unfair commercial practices * Misleading and aggressive practices which are assessed in light of the effect they have, or are likely to have, on the average consumer * The Black List which contains the list of those practices which are unfair and thus banned Companies are not allowed to...
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...P2: describe the limitations and constraints of marketing Sales of goods act 1979 The sales of goods act 1979 states that goods sold by a company or business must be as described, of a satisfactory quality and fit for purpose. This means that goods that have been advertised must be exactly the same as the advertisement, not damaged or broken on sale and also completes the task it was made to do. For example if you were to advertise a computer it has to work properly and have everything as described in the advertisement. The merchandise will have a return policy to return any products to collect a refund or trade it for another and this would usually be around 30 days. Should company’s hire purchase equipment but find it is faulty this is not included in the sales of goods act 1979 but instead any hire purchase equipment falls under the supply of goods implied terms act 1973. Should the product you bought not fall under any of these factors then the company who sold it to you is in breach of the sales of goods act and you could claim under this act. For the NMM this could cause problems should the merchandise be broken or damaged because they bought it from the manufacturer which therefore is then held liable. If the NMM had a breach in the sales of goods act 1979 then this could have a big effect on their future business as people would be put off buying merchandise from them which would therefore lead to a decrease in profit from the products and potentially a big cost for...
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...efficiently. The availability of the internet in the UK is also really good and reliable and it is quite the norm in society. This is good because McDonald’s can then use this to advertise the business. In India the availability of transport is not as good as the roads are not properly maintained and some locations would be hard to reach. This means the logistics would not be as good and it would be difficult to get products from location to location. The internet is also not that good as it is a luxury and not the average person in India would have access to it. Legal consumer protection law In the UK McDonald’s have certain legal consumer protection laws for consumers that McDonald’s have to comply with for example The consumer protection Act 1987, the sale of...
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...G Gillette Merger. --- By Bhanu Shree Jain In inquiring into a Merger and Acquisition the Competition Commission has to see whether a Merger and Acquisition has caused or likely to cause an “appreciable adverse effect on competition” (AAEC) and there is a ‘rule of reason’ approach to the inquiry. The paper explores Section 5, 6, 20, 29, 30 & 31 of the Competition Act, 2002 which govern the same and the act provides a large number of factors which the Commission must take in to account in the inquiry. Most importantly, these include the market share of the enterprises, barriers to entry, level of concentration in the market, likelihood of increase in prices of profits margins, removal of an important competitor, and so on. If the Commission finds, which going by historical experiences could be in a small proposition of the cases, that the merger is likely to have AAEC, the commission may refuse approval or may approve it with certain modifications. In case of P&G Gillette merger, the authorities stipulated that certain part of the business must be divested. The process of inquiry set out in the act provides full opportune to the merging enterprises to defend the merger and also to consider any modifications proposed by the Commission. It also provides an open opportunity to opposing parties to present their position to the Commission. Section 5 sets up the threshold limit in India as well as at Global level, thus providing a safeguard from internal as well as external...
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...------------------------------------------------- Price Signalling and Competition – Research Essay An evaluation of the law should be conducted in light of a specific objective. This way, one can make a valid determination regarding the effectiveness of the laws in question and their operation with respect to their intended purpose. The objective of the Competition and Consumer Act 2010 (Cth) (CCA) is to enhance the welfare of Australians by promoting competition and fair-trading, and to provide protection to Australian consumers. The relevant laws in place should therefore reflect the aims of this objective. It has been proposed that government action to prohibit anti-competitive price signalling and information exchange between competitors advances the objective of the CCA by strengthening its safe guards against anti-competitive conduct, recognising that competitive markets enhance the welfare of Australians. Several commentators from the business and legal community however challenged this suggestion. They argue that amendments to this end would be futile as such conduct is already regulated by the existing provisions in the CCA. Others have even argued that such regulation has the potential to impede to legitimate and pro-competitive commercial behaviour. Nonetheless, the Australian Consumer and Competition Commission (ACCC) has maintained its position in support of laws that specifically target anti-competitive communication between competitors. Recent public...
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...enforcement authorities under the completion act 2010. Look at the weaknesses strengths of the competition law enforcement authorities and make suggestions. HISTORY Before the introduction of the new Competition Act, the Kenyan investment market was unfavorable for competition, as new investors needed financial and political muscle to gain commercial mileage hence companies had to align themselves with political strong men or merge with them, against perceived competitors inorder to carve themselves a niche. This was especially the case for new businesses wishing to operate in sectors with large consumer bases such as telecommunications, information systems, financial services and energy. The objective of the Act is to modernize competition regulation inorder to support the local market economy and consequently deepen consumers’ benefits. The Competition Authority is mandated to promote and safeguard competition in the national economy and to protect consumers from unfair market conduct. The Act applies to all persons including the Government, State Corporation and devolved government in so far as they engage in trade. The mandate is comprehensive and clear as Section 9 defines the tasks as follows: To promote and enforce compliance with the Act; To receive and investigate complaints from legal or natural persons and consumer bodies; To promote public knowledge, awareness and understanding of the obligations, rights and remedies under the Act and the duties, functions and activities...
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...THE COMPETITION ACT, 2002 No. 12 OF 2003 as amended by The Competition (Amendment) Act, 2007 2007 THE COMPETITION ACT, 2002 1 No. 12 OF 2003 [13th January, 2003.] An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:— CHAPTER I PRELIMINARY Short title, extent and commencement 1. (1) This Act may be called the Competition Act, 2002. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. Definitions 2. In this Act, unless the context otherwise requires,— (a) "acquisition" means, directly or indirectly, acquiring or agreeing to acquire— (i) (ii) 1 shares, voting rights or assets of any enterprise; or control over management or control over assets...
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...of this exploratory and conceptual study is to assess the performance of agencies in charge of consumer rights protection based on their statutory functions. The study finds that, for the most part, the agencies are below par in performance with very poor level of awareness among Nigerian consumers who are reluctant to enforce their rights. This reluctance is largely due to poor level of education among Nigerian consumers, unnecessarily rigid judicial system that protects the manufacturers and marketers, coupled with the non-committed attitude of the government towards protecting consumer rights. The government should ensure immediate establishment of Consumer Protection Council committees in all states of the federation as provided by the Act, enforce the use of warranties, and direct other agencies to vigorously create awareness and bring defaulting...
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... Focus of the Presentation Bring to light anti-competitive practices prevalent in the pharmaceutical industry and healthcare sector. Indicate the approach proposed to be taken for executing the study and analyzing the data collected in pursuance thereof. Broad Scheme of Presentation Indian Pharmaceutical Industry a Snapshot Access to Medicines Situation in India Objectives of the Study Anti-competitive Practices Competition Act 2002 Regulation of Combinations Anti-competitive Agreements Abuse of Dominance Proposed Chapterisation Proposed Methodology 1. 2. 3. Indian Pharmaceutical Industry a Snapshot Net Worth 8 Billion Dollars Growth Rate of 8-9% PA. 4th in the World in terms of Volume of Drug Output Exports to nearly 212 countries @ USD 4795.33 million (2005-06) Has an important role to play in promoting public health and Right to Health. Highly technology and knowledge intensive. Indian Pharmaceutical Industry a Snapshot Industry growth highly dependent on the regulatory environment . Owes its current growth and success to the Patents Act of 1970 which abolished product patents in the pharmaceutical sector. The same helped Reduce the manufacturing costs in terms of license fee Reduce the costs involved in R&D Diffusion of technology and knowledge through reverse engineering 1. 2. 3. Indian Pharmaceutical Industry a Snapshot There is no...
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...REPUBLIC ACT NO. 10667 * Philippine Competition Act * Established to look into anti-competitive agreements and abuses of dominant position as well as review mergers and acquisitions. * A national competition policy that seeks to promote free and fair competition in trade, industry and all commercial economic activities. * The Philippine Competition Commission. * United States’ Antitrust Laws PROHIBITED ACTS * Anti-Competitive Agreements Agreements between or among competitors where they limit their price of goods to be sold. Another thing is where they fix the price at an auction including bid manipulation and other forms of bidding * Abuse of Dominant Position Constricts the competition between existing entities with their use of power or dominance over the first-hand players in the industry such that they lessen or lower their prices in order to gain more (predatory acts) * Anti-Competitive Mergers and Acquisitions These are movements or acts referring to the tactics usually practiced by big players in the market to extensively prevent, restrict or lessen and manipulate competition. PENALTIES * Chapter IV of the Republic Act under the 1987 Philippine Constitution Administrative fines for the violation of Sections 14 and 15 under Chapter III and also Sections 17 and 20 under Chapter IV of the Act. * Section 29(b) Failure to Comply With an Order of the Commission: An entity which fails or refuses to comply with a ruling, order...
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...Law relating to unfair trade practices Definition: An unfair trade practice means a trade practice, which, for the purpose of promoting any sale, use or supply of any goods or services, adopts unfair method, or unfair or deceptive practice. Unfair practices may be categorised as under: 1. FALSE REPRESENTATION The practice of making any oral or written statement or representation which: * Falsely suggests that the goods are of a particular standard quality, quantity, grade, composition, style or model; * Falsely suggests that the services are of a particular standard, quantity or grade; * Falsely suggests any re-built, second-hand renovated, reconditioned or old goods as new goods; * Represents that the goods or services have sponsorship, approval, performance, characteristics, accessories, uses or benefits which they do not have; * Represents that the seller or the supplier has a sponsorship or approval or affiliation which he does not have; * Makes a false or misleading representation concerning the need for, or the usefulness of, any goods or services; * Gives any warranty or guarantee of the performance, efficacy or length of life of the goods, that is not based on an adequate or proper test; * Makes to the public a representation in the form that purports to be- * *# a warranty or guarantee of the goods or services, a promise to replace, maintain or repair the goods until it has achieved a specified result, if such...
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...and constraints The Sale of Goods Act Under the Sale of Goods Act 1979 goods must be as described, of satisfactory quality and fit for purpose. Fit for purpose means both their everyday purpose, and also any specific purpose that you agreed with the seller (for example, if you specifically asked for a printer that would be compatible with your computer) Goods sold must also match any sample you were shown in-store, or any description in a brochure Consumer protection from unfair trading There are three main sections in the Consumer Protection from Unfair Trading Regulations. These are as follows: • The general ban on unfair commercial practices • Misleading and aggressive practices which are assessed in light of the effect they have, or are likely to have, on the average consumer • The Black List which contains the list of those practices which are unfair and thus banned Apple must advertise the product properly so that customers can understand the product and its features. Consumer Credit Act The Consumer Credit Act 1974 regulates consumer credit and covers the following areas: • content and form of credit agreements • method of calculating annual percentage rate (APR) • procedures relating to events of default, termination or early settlement • credit Advertising • section 75 which gives you extra protection on items costing over £100 and up to £30,000 paid by credit card Data protection act The Data Protection Act 1998 gives you the right to know what...
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...Internet Fraud: An Overview of Classifications, Government Actions, and Consumer Protection December 14, 2006 Internet Fraud: An Overview of Classifications, Governmental Actions, and Consumer Protection Internet fraud is an increasing threat to our technological society, which thrives on the advances and benefits of the Internet and e-commerce. With the increased growth and dependence of the Internet, creative individuals have found ways of conveying fraudulent schemes as legitimate goods and services. Not only does Internet fraud cause harm to individuals and institutions, but it also damages the consumer confidence of valid Internet businesses and e-commerce. There are many forms of Internet fraud which Internet patrons need to be aware of and cognizant of. This paper will explore major classifications of Internet fraud, provide information on how to deal with Internet fraud, relay actions taken by the government to thwart Internet fraud and prosecution thereof, and also take a detailed look into one type of Internet fraud especially, identity theft. According to the Department of Justice (http://www.usdoj.gov/criminal/fraud/text/Internet.htm), Internet fraud is any type of criminal scheme that uses one or more components of the Internet to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions or to transmit the proceeds of fraud to financial institutions. Major types include; online action and retail scams, business opportunities...
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...position is set out in OFT140A - 'Consumer credit - regulated and exempt agreements' (November 2010), which is available on the OFT website at: www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft140a.pdf. Office of Fair Trading November 2010 © Crown copyright 2008 This publication (excluding the OFT logo) may be reproduced free of charge in any format or medium provided that it is reproduced accurately and not used in a misleading context. The material must be acknowledged as crown copyright and the title of the publication specified. CONTENTS Chapter 1 Introduction 2 Regulated agreements 3 Exempt agreements Page 1 2 6 1 1.1 INTRODUCTION This guidance note provides a brief overview of regulated and exempt agreements under the Consumer Credit Act 1974 (the Act). The Act was amended by the Consumer Credit Act 2006 both to bring certain previously exempt agreements into the category of regulated agreements, by removing the upper financial limit beyond which an agreement was not subject to regulation, and to provide for new exemptions, with effect from 6 April 2008. A further exemption, relating to buy-to-let agreements, came into effect from 31 October 2008. The guidance sets out what makes an agreement regulated under the Act and the different categories of agreement. It also briefly summarises the principal exemptions, with cross-references to the relevant legislation. It is not however intended to be definitive. Firms are advised to read this...
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