Do you know about the Federal Trade Commission? The mission of the Federal Trade Commission (FTC) is: (1) to prevent business practices that are anticompetitive or deceptive or unfair to consumers; (2) to enhance informed consumer choice and public understanding of the competitive process; and (3) to accomplish this without unduly burdening legitimate business activity.
The FTC has three bureaus: Consumer Protection, Competition, and Economics. However, we focus mainly on the FTC’s Bureau of Consumer Protection for this discussion question (https://www.ftc.gov/about-ftc/bureaus-offices/bureau-consumer-protection).
Click the this link and review the last two months of press releases from the FTC page (e.g., news, blog posts, reports, etc.). Based on these releases, please identify the major marketing ethical issues of concern at this time.
Discussion Question #2 :250 words and one source
Please watch the YouTube video titled "An Introduction to Theodore Levitt's Marketing Myopia" before responding to this question:
https://www.youtube.com/watch?v=63AR9D54HKM
Theodore Levitt left a stamp on marketing strategy when he coined term “marketing myopia” in his article published by Harvard Business Review in 1960. More than half of a century later, the important message still resonates in today’s marketplace. Give at least one specific example of a company that fell into a myopic trap. Explain why and how this happened and elaborate on what marketing activities the company should have implemented and controlled.
Sample Solution