Skip to main content

MRTP ACT, 1969

The Directive Principles of our constitution suggest that ownership and control of material resources should be widely distributed and there should be no concentration of wealth and means of production. With this in mind, the competition law of India, namely the Monopolistic and Restrictive Trade Practice Act, 1969, was enacted.
In many countries and in particular developing countries like India, a large number of consumers are illiterate and ill-informed and possess limited purchasing power in an environment, where there is shortage of goods.  Very often, one witnesses the spectacle of a large number of non-essential, sub-standard, adulterated, unsafe and less useful products being pushed through by unscrupulous traders by means of Unfair Trade Practices and deceptive methods.  Subtle deception, half truths and misleading omissions inundate the advertisement media and instead of the consumer being provided with correct, meaningful and useful information on the products, they often get exposed to fictitious information which tends to their making wrong buying decisions.  Transparent information is missing and needs to be a goal to be chased.
The regulatory provisions in the MRTP Act apply to almost every area of business – production, distribution, pricing, investment, purchasing, packaging, advertising, sales promotion, mergers, amalgamations and takeover of undertakings (provisions relating to mergers, amalgamations and take-over’s were deleted in the MRTP Act by the 1991 amendments to it). They seek to provide protection and support to consuming public by reducing if not eliminating from the market Monopolistic, Restrictive and Unfair Trade Practices.  One of the main goals of the MRTP Act is to encourage fair play and fair deal in the market besides promoting healthy competition. 
Objectives
The principal objectives sought to be achieved through the MRTP Act are:
·         prevention of concentration of economic power to the common detriment;
·         control of monopolies;
·         prohibition of Monopolistic Trade Practices (MTP);
·         prohibition of Restrictive Trade Practices (RTP);
·         prohibition of Unfair Trade Practices (UTP).



Popular posts from this blog

Overview of Social Media Marketing

Social media marketing refers to the process of gaining traffic or attention through social media sites. Social media itself is a catch-all term for sites that may provide radically different social actions.

Use social media marketing to listen, analyze, publish, and engage across networks. Align your marketing, customer service, and sales efforts on social — strengthening customer relationships.


Listen and analyze. Hear conversations from over 650 million different sources with social listening tools. Discover what consumers are saying about your brand, your products, and your competitors. Discover trending topics and influential conversations — then use that information to inform your marketing decisions.
Plan and publish. Plan, execute, and track social media marketing campaigns. Customize and craft your content from multiple sources, while protecting your brand with configurable approval rules and a full audit trail. Manage social strategy, tailor campaigns, and drive social awareness…

Future Of Digital Marketing

The Origin of Digital-Marketing: The term 'digital marketing' was first used in the 1990s. In the 2000s and the 2010s, digital marketing became more sophisticated as an effective way to create a relationship with the consumer that has depth and
relevance. 
While the term 'digital marketing' may not have been used until the 1990s, digital marketing itself has roots to the mid-1980s when the Soft Ad Group, now ChannelNet developed advertising campaigns for several major automobile companies, wherein people would send in reader reply cards found in magazines and receive in return floppy disks that contained multimedia content promoting various cars and offering free test drives.
The rapid evolution of digital media has created new opportunities and avenues for advertising and marketing. Fueled by the proliferation of devices to access digital media, this has led to the exponential growth of digital advertising.
In 2012 and 2013 statistics showed digital marketing remained a gro…

Why Digital Marketing and Web 2.0 Important To Business?

DIGITAL MARKETING

Digital marketing technology helps you understand and reach your audience most effectively so you can generate the most revenue.  For advertising campaigns, ad serving technology makes it possible to serve the right ad at the right time to right person.  That means your advertising is being as productive as possible. When technology is working for you, you’ll understand your audience at a whole new level, and it will show up on your bottom-line.


NEED FOR THE STUDY The pace of change in today’s business environment is faster than ever. New markets, technologies, and opportunities are arising on a daily basis. Current ways of doing business need to be adapted or they will become outdated. Organizations and enterprises have to become agents of evolution to be successful; as victims of evolution they risk failure. With so many dynamics operating in the global economy, Digital Marketing is now more than ever an effective tool to make a company stand out from the pack.

The pe…