Af ree market system is based on private property and private enterprises. Thus, in the system, private enterprises are free to pursue their own best interests and they can act in a manner that will maximise their profits. They are free to pursue thei...
Af ree market system is based on private property and private enterprises. Thus, in the system, private enterprises are free to pursue their own best interests and they can act in a manner that will maximise their profits. They are free to pursue their profit maximization, however, there is a limitation on management and marketing, which is based on their social responsibility to keep free market system, or free and open compentition system.
To ensure to free and open competition system, Government established the fair trade system in 1980. Under the system, such things as unfair methods of competition, division of market, interfering with a competitor’s supply of goods, price fixing, selling below cost, deceptive or unethical promotion, false or exaggerated advertising of goods or deceiving a customer with regard to the quality or quantity of a goods is considered to be illegal. All such regulations call a new concept to revise the marketing concept which is in a stage of selling concept in our market.
The new concept means the societal marketing concept. According to this study, the societal marketing concept should be settled in our business society in the soonest possible time, while it is not yet settled effectively even six years after the system established. I hope, the proper authorities should operate the fair trade system more effectively.