Marketing Vocab
What is "false advertising"?
Ad's with misleading information that effect the consumers buying decision.
DOL
OSHA
Enforce safe and healthy work environments with audits and regulations. In charge of the safety at work.
FTC
Federal Trade Commission
FTC
This is the main government agency that protects the public from unfair marketing and unfair business practices.
What is a MONOPOLY?
When there is only one supplier of a good or service
OSHA
Occupational Health and Safety Administration
FLSA
Enforce minimum wage, overtime pay and youth work regulations.
FCC
Federal Communications Commission
CPSC
This agency ensures products are safe and won't cause illness or injury
What is Price Fixing?
Competition get together and set the same price for their goods so consumers don't have a choice but to pay.
FLSA
Fair Labor Standards Act
ADA
Prohibits businesses from discriminating against people due to disabilities- Everything must be handicapped accessible.
CPSC
Consumer Product Safety Commission
COPPA
restricts information businesses can collect from children online.
Why are MONOPOLIES bad?
If one supplier controls a product or service they can then control the price which can be bad for consumers.
ADA
Americans with Disabilities Act
EEOC
Equal Employment opportunity commission enforces that there is NO DISCRIMINATION based on race, gender, sexual orientation, religion etc.
COPPA
Children's Online Privacy Protection Act
FPLA
The fair packaging and labeling act requires specific things on all labels. (nutrition facts, quantity)
Give an example of a "bait and switch"
A bait and switch is when you are offered and lured into the store with one product and then sold a different higher priced item.
EEOC
Equal Employment Opportunity Commission.
DOL
Department of Labor oversees all labor laws
FPLA
Fair Packaging and Labeling Act
FCC
The Federal Communications Commission monitors and regulates TV and radio marketing