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Lecture Business and society - Chapter 13: Consumer Stakeholders: Information Issues and Responses
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Lecture Business and society - Chapter 13: Consumer Stakeholders: Information Issues and Responses
Phong Lan
70
29
ppt
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Contents: The Consumer Movement, Product Information Issues, The Federal Trade Commission (FTC), Recent Consumer Legislation, Self-Regulation in Advertising, Moral Models and Consumer Stakeholders. | © 2015 Cengage Learning Chapter 13 Consumer Stakeholders: Information Issues and Responses © 2015 Cengage Learning Learning Outcomes Recite the consumer’s Magna Carta and explain its meaning. Chronicle the evolution of the consumer movement, highlighting Ralph Nader’s role. Identify the major abuses of advertising and discuss specific controversial advertising issues. Describe the role and functions of the FTC. Explain recent consumer-related legislation that has been passed. Discuss the strengths and weaknesses of regulation and self-regulation of advertising. © 2015 Cengage Learning Chapter Outline The Consumer Movement Product Information Issues The Federal Trade Commission (FTC) Recent Consumer Legislation Self-Regulation in Advertising Moral Models and Consumer Stakeholders Summary Key Terms © 2015 Cengage Learning Consumer Stakeholders: Information Issues & Responses © 2015 Cengage Learning As business seeks to come out of the worldwide recession, the pace | © 2015 Cengage Learning Chapter 13 Consumer Stakeholders: Information Issues and Responses © 2015 Cengage Learning Learning Outcomes Recite the consumer’s Magna Carta and explain its meaning. Chronicle the evolution of the consumer movement, highlighting Ralph Nader’s role. Identify the major abuses of advertising and discuss specific controversial advertising issues. Describe the role and functions of the FTC. Explain recent consumer-related legislation that has been passed. Discuss the strengths and weaknesses of regulation and self-regulation of advertising. © 2015 Cengage Learning Chapter Outline The Consumer Movement Product Information Issues The Federal Trade Commission (FTC) Recent Consumer Legislation Self-Regulation in Advertising Moral Models and Consumer Stakeholders Summary Key Terms © 2015 Cengage Learning Consumer Stakeholders: Information Issues & Responses © 2015 Cengage Learning As business seeks to come out of the worldwide recession, the pace of consumer spending has slackened. Consumers have become more cautious and selective. Businesses need to pay careful attention to customer stakeholders, and their fair treatment. Customer Relationship Management (CRM), the art of creating and retaining customers, is critical. “Satisfied customers tell three friends, but angry customers tell 3,000.” The great trust offensive seeks to win them back. The Consumer Movement The Consumer Movement - A social movement seeking to augment the rights and powers of buyers in relation to sellers. In addition to the rights enumerated in The Consumer’s Magna Carta (see next slide), consumers today want: Fair value for money spent A product that meets reasonable expectations One with full disclosure of its specs Truthfully advertised – and safe © 2015 Cengage Learning The Consumer’s Magna Carta © 2015 Cengage Learning Ralph Nader’s Consumerism Ralph Nader is considered the father of the modern consumer movement. The impact of his book, Unsafe
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