The company has been affected in a good way because this act allows the company to have the right to sell their products and services. Which allows the business to keep running and trading. * Consumer protection from unfair trading. This law is in place to prevent traders are honest and fair when offering their products and services for sale. Examples of how business have been affected by consumer protection from unfair trading- 1.
Why are ethical behaviour and government regulations important to marketing? Ethical behaviour is used within many businesses to ensure the business provides accurate information to customers as well as other businesses to engage in fair competition. It is important for a business to have ethical behaviour in relation to the marketing side of the business so that goods produced, promoted then sold do not provide misleading information. If identified by consumers, it can have a major impact on all functions of the business as it has the potential to ruin the business’s reputation placing the business at a declining stage of the business’s life cycle. In a similar manner government regulations are also important and must be overviewed by all functions of a
Identify the main reasons for reviewing working methods, products and / or services in a business environment. The main reason why a business should review working methods, products and / or services are to ensure that they are keeping in line with other businesses. An example of not keeping up with the times is HMV. Change can cause added pressures to the business. However there are changes that would have a small affect on the business.
This would be important for accounts receivable - money that is owed by a customer for products/services. Representing a company in small claims court requires one to be familiar with the law and how it relates to accounting practices. In the Mack v. Edenwold Fertilizer Services Ltd. case, if Mack had a knowledgeable accountant that was familiar with the law, he may have been advised not to sue as the illegality of the situation would have resulted in a loss. In turn, this advise would have saved Mack both time and
The Sale of Goods Act, 1979: This law helps customers to rectify the good or service if it goes wrong. This act state that the good or service to be sold should fit its description, fit for its purpose, and be of satisfactory quality. Seller has to ensure the goods match up with its description in the contract. If the goods are described inaccurately, the customer can claim the seller for a breach of the contract. The goods as well should be of satisfactory quality.
* Trust will be a strong value that will be unacceptable if not used. A well rounded company is embodied by well built standards and procedures. With a strong base of standards our company discourages undesirable conduct. Placing a code of conduct into our company allows a business to improve their ethical standards by screening for unethical employees. A code of conduct is a one of the major key factors in keeping a business in good ethical standing.
Unit 1 - Marketing: A01 Task 1 - Marketing objectives Marketing objectives are important to all business in order to be successful. Business must know what the consumers need and they must ensure that the goods and services support the customer's needs. To attract customers to the business, quality products must be created and customers must be satisfied with the result. Marketing also if marketing is carried out successfully it will increase the profit of the business and make them more likely to become successful. There are marketing objectives in businesses that must be fulfilled in order to be successful: Discovering the needs of consumers to make sure that a quality product is produced means that the business must first find out what
A business that wants to be profitable will follow a standard code of conduct for how is treats others and rectifies any wrong doing. Many believe that a business should not exist only to make a profit but that a business has a social responsibility to society. Social responsibility is a business’ obligation to maximize its positive impact and minimize its negative impact on society (Ferrell, Hirt, & Ferrell, 2009, 38). A profitable and sustaining business relationship can not be built without a solid foundation of trust, ethical behavior and social responsibility, and
Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations. Businesses have an obligation to establish and maintain an impartial balance between money and company ethics. This can be a challenging situation for business people to make decisions on the pros and cons of
The marketers responsible for the company messages must be knowledgeable about their responsibilities and treat consumers with the respect they deserve. When companies violate trust with consumers through the use of misleading or deceptive statements, not only do they lose face in the eyes