Misleading Advertisements as a part of unprofessional trade practices–A critical appraisal of regulatory mechanism and Business Ethics

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Dr. D.M. Jadhav, Shubhra Johri, Dr. Vaibhav Sonule

Abstract

Industrialization and market competition has led to increased use of technology including advertising as a means of holding market by using strategic skills. Electronic as well as the print media is being used by the manufacturers for advertising their products. Given the enormous impact of advertisements and brand endorsements on sales volume, television advertisements have gained huge importance. While on one hand advertisements can increase brand recall of the products and hence promote its market coverage and also help consumers in their buying decisions but on the other hand it can even misguide the consumers if parity is not maintained. Undoubtedly businesses run on margins and promoting product in the market to maintain the margins is permissible as part of right to trade and occupation but at the same time one has to take into consideration the basic values and ethics of business profession and trade. This paper is an attempt to analyze misleading advertisements, their impact and critically appraise the various regulatory mechanisms to deal with deceptive advertising.

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