Question
Discuss the regulation of pricing under the Consumer Protection Act, 2019
Answer :
Word Count : 542
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Pricing is an important element of the marketing mix because it directly affects consumers, business profitability and market competition. However, pricing practices can sometimes become unfair, misleading or exploitative. The Consumer Protection Act, 2019 provides a legal framework to protect consumers against such practices and promotes fairness and transparency in the marketplace. From the perspective of principles of marketing, the Act seeks to ensure that prices communicated to consumers are genuine, transparent and not used as a means of unfair exploitation. The Consumer Protection Act, 2019 defines an unfair trade practice broadly to include misleading or deceptive practices adopted for promoting the sale, use or supply of goods and services. Pricing-related practices can therefore attract regulatory action when they involve false or misleading representations regarding
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