Republic of the Philippines

NUEVA ECIJA UNIVERSITY OF SCIENCE AND TECHNOLOGY

San Isidro Campus Annex, Tabon, San Isidro, Nueva Ecija
College of Management and Business Technology

CHAPTER 1:
LAWS, ETHICS, AND
SOCIAL RESPONSIBILITY
IN PRICING
Submitted by:
Leader:
Parungao, Fergus H.

Members:
Bernardo, Christian Z.
Boy, Arlene P.
Domingo, Darlyn V.
Francisco, Rhea M.
Jimenez, Ferdie G.
Navarro, Jennifer D.
BSBA 4A – Marketing Management

Submitted to:
Dr. Joannie A. Galano
Subject Instructor
 TABLE OF CONTENTS

INTRODUCTION 1
Laws and Regulations 1
Laws 1
Regulations 1
Ethics 2
Social Responsibilities 2
PRICE FIXING 3
Market Regulation 3
Horizontal Price Fixing 4
Bid Rigging 4
Per se Criterion 4
Rule of Reason Criterion 5
Plus Factor 5
Vertical Price Fixing 5
Public Utility Regulation 6
Natural Monopolies 6
Public Utilities 6
INAPPROPRIATE PRICE LEVELS 7
Price Fixing 7
Excessively High Price 7
Price Gouging 8
Excessively Low Price 8
Unwholesome Demand 8
Green Marketing 9
Predatory Pricing 9

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INAPPROPRIATE PRICE DIFFERENCE 10
Price Segmentation 10
Limitations on Consumer Price Segmentation 10
Price Segmentation as a Means of Restricting 11
INADEQUATE PRICE COMMUNICATION 12
Manipulation of Price Formats 12
Misleading Merchandising 13
Quantity Surcharges 14
Price Sensitivity 14
Using Fictitious Low Prices as Bait 14
Teaser Rates 14
PRIMACY OF ETHICS AND SOCIAL RESPONSIBILITY 15

REFERENCES 17

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 CHAPTER 1:
LAWS, ETHICS, AND SOCIAL RESPONSIBILITY IN PRICING

● The consideration of the implications of pricing decisions for the community and society
in which the firm operates must also inform price setting and the price-setting process.
● Managing the societal consequences of a pricing strategy necessitates the consideration
of a number of various types of assistance. 

Laws and Regulations

● These are in place to address the pricing effects that are most important to societal
functioning.
● These are laws enacted by the government that are enforced through fines and
imprisonment.

Laws
● These are rules enacted by the Philippine Congress (House of Representatives and
Senate) or state or municipal legislative bodies to control pricing methods.

Example 1.1
The legislative branch of the government enacted various
laws that concerns on consumers’ welfare and pricing such of
which are:
● Republic Act No. 7581 - The Price Act
● Republic Act No. 7394 - The Consumer Act of the
Philippines
● Republic Act No. 10667 - The Philippine Competition
Act (PCA)

Regulations
● These are more detailed guidelines established by government agencies such as the
Department of Trade and Industry and the Food and Drug Administration, which are
tasked with enforcing laws.

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Example 1.2

Suggested retail prices (SRPs) for essential necessities and core

commodities such as canned and other food goods, bottled water, dairy, and
common household or kitchen supplies are updated by the DTI.

Ethics
● These are rules and principles that govern fairness and whether something is regarded
right or wrong. People will be outraged and will avoid purchasing the item in issue, as
well as other things, as a result of this.
● This is said to be included when pricing methods have negative consequences that are
less important to society's functioning or that are difficult to regulate legally.
Example 1.3
Any firm must make a crucial decision when it comes to
pricing a product responsibly. Businesses that employ ethical pricing
tactics to sell their products and profit are significantly more
appreciated than those that harm and deceive competitors or even
customers. Companies must be able to recognize ethical difficulties
that obstruct fair pricing in order to practice ethical pricing.

Social Responsibilities
● These are the company's commitment to enact policies that benefit society the greatest. 
● This has an impact on the customer's overall perceptions of the vendor's items and
prices, as well as their trust in the seller.
● These entail prices or pricing strategies that have an impact on whether society is better
off or worse off.
Example 1.4
EpiPen, a life-saving injectable device, was reported to have
increased in price by 671 percent between 2007 and 2010. Following
the public outcry, Mylan, the EpiPen's manufacturer, announced that it
will develop a generic brand and make it available within the
following two weeks. This is a positive step forward, but it raises the
question of what a company's social responsibilities are when it
manufactures a life-saving drug.

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PRICE FIXING
● According to Latham (2016), price fixing is any agreement between business competitors
(“horizontal”) or between manufacturers, wholesalers, and retailers (“vertical”) to raise,
fix, or otherwise maintain prices. Many, though not all, price-fixing agreements are
illegal under antitrust or competition law. Illegal actions may be prosecuted by
government criminal or civil enforcement officials or by private parties who have
suffered economic damages as a result of the conduct. 
● Latham (2016) also stated that a pricing practice that interferes with the independence of
the price setting process among competitors. 
● It could be very profitable to sellers, it became apparent very soon after the widespread
growth of free-market economies that a society's government needs to play a strong role
in preventing companies from making arbitrary or collusive agreements on prices
(Latham, 2016).
         
Market Regulation
 Bailey (2018) stated that the primary function of market regulations is to ensure that
these markets   are   allowed   to flourish and grow within a framework that permits for
fair and open trade. In order for this to be possible, these regulations must be set out in
order to overcome or halt the appearance of potential barriers that might inhibit the
progression and growth of these markets.
 A regulated market   is one   whereby the   government   control some   or all   aspects of
the market, not necessarily allowing   it to be truly free where it would bein a   laissez-
faire system.

Example 2.1
Bakeries like Hizon's Cakes and Pastries in a particular community
sold bread at prices that are higher than needed to cover necessary costs
and earn an adequate profit. 
● In a free-market system, this situation would attract new bakeries
into the community who would sell bread four less and wood
thereby receiving the consumers' business. The offending high-
priced sellers would be forced to lower prices or withdraw from the
marketplace. 

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Horizontal Price Fixing
● It is an agreement between competing sellers to set a similar target price, implement the
same obligatory surcharges, and limit the supply of a product. 
● Nasrudin (2021) stated that horizontal price fixings try to align prices in order to benefit
both parties. It maintains high market profits while lowering competitive intensity. 

Example 2.2
Some retailers like Walmart have the ability to set prices at
a premium or within a certain price range. They will sanction
when a Shoes company does not comply with the agreement.
They can increase their profits by doing so.
It's also possible that the company will agree to set a price limit.
When all companies implement it, each company's selling price
stays in the same range.

Bid Rigging
⮚ It is a sort of collaboration in which bidders on a contract agree on who should win the
offer and then write their bids to coincide. 
⮚ Also, it's a type of market manipulation that can have antitrust implications.

Example 2.3
Three bus companies formed a joint venture to provide
transportation services under a single contract with the school
district. The joint venture did not involve any beneficial integration
of operations that would save money. The FTC (Federal Trade
Commission) found that the joint venture mainly operated to prevent
the bus companies from offering competing bids.

Per se Criterion
⮚ It considers a business practice that so clearly violates the intent of a law that no
conceivable circumstances could justify it.

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 ⮚ The validity of agreements (written or oral) between competitors is determined using this
sort of antitrust analysis. The per se rule presumes that certain types of agreements,
regardless of their business purpose or competitive benefits, violate antitrust laws. The
per se rule only applies if a contract fits into one of these categories. (Reuters, 2021)

Rule of Reason Criterion

⮚ Under Section 1 of the Sherman Act of 1890 in the United States, the ‘rule of reason'
allows a court to balance the pro- and anti-competitive effects of an agreement; if the
latter exceeds the former, the agreement is considered an unlawful trade restraint.

Plus Factor
⮚ It is a circumstance in which something other than the independent price decision is used
to determine the validity of parallel pricing.

Vertical Price Fixing

● These are the price agreements between companies on different rows, that is, those who
buy and sell from each other.

Example 2.4

The New Balance Company might attempt to require its dealers to

maintain the company's list prices on its shoes and to avoid offering
discounts to consumers. 

Those practices are designed to accomplish what is your first to as resale price maintenance.
⮚ The manufacturer reduces price competition and so preserves reseller margins by
mandating all resellers to maintain price.
⮚ This allows the producer to maintain its pricing to resellers while also securing the
company's revenues.
⮚ A supporter of resale-price-maintenance practices could argue that these practices
benefit society to consumers.

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 ⮚ These practices are lawful because, while they urge a reseller to maintain the
manufacturer's desired resale price, they do not bind the reseller to any kind of
agreement. 
⮚ Such practices can be combined with unilateral acts based on the colgate doctrine.

Colgate Doctrine
⮚ It is a private company's "long recognized right" to choose which other companies to
engage with.
⮚ This principle allows a manufacturer to advertise prices and then choose only to
engage with those resellers who the company believes will be able to keep these
prices.

Public Utility Regulation

Natural Monopolies
⮚ It is a monopoly that results in the development of natural market dynamics. It
frequently occurs in industries where capital costs predominate, resulting in large-scale
economies in terms of market size. Public utilities, such as water and electricity, are
examples of natural monopolies.

Example 2.5
A good example of this is in the business of electricity transmission
like Meralco where once a grid is set up to deliver electric power to all of the
homes in a community, putting in a second, redundant grid to compete makes
little sense.

Public Utilities
● A firm that provides goods and services to the general public.
● The term may also refer to the service or product itself.
● Common carriers as well as corporations that provide electric, gas, water, heat, and
television cable systems are examples of public utilities.

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INAPPROPRIATE PRICE LEVELS
Price Fixing  
⮚ It is a type of societally questionable pricing practice that concerns the price-setting
process, i.e. the negative societal consequences of the prices that end up actually being
set.
⮚ According to Latham (2016), it is an agreement to raise, fix or otherwise keep prices
between business competitors ("horizontal"), or between manufen, wholesalers, and
retailers ("vertical"). 

Excessively High Prices

● Various factors in the economic environment can cause prices to climb to levels that may
have societally undesirable consequences. 
● As stated by Gürkaynak et al. (2017), it occurs when a dominant company with
dominant market power charges prices that exceed the competitive level of pricing.

Example 3.1

After World War II, the increase in demand for housing in San
Francisco led to rent increases so severe that many longtime residents
were unable to afford their apartments.

Example 3.2
After the 1994 earthquake that devastated areas of
Southern California, it was reported that half-liter bottles of
drinking water were selling for as much as $8 per bottle. Floods,
hurricanes, or other natural disasters often create scarcities that
can put severe upward pressure on prices.

When prices are too high, the resulting public outcry may lead the government to take actions:
● One form of price controls is the introduction of legally mandated maximum prices in a
product category. 

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 ● Another form of governmental action is the enactment of laws against price gouging.
Such laws usually attempt to restrain sellers from taking advantage of natural disasters
such as earthquakes and hurricanes.

Price Gouging 
⮚ Morton (2021) stated that dealers and others take advantage of demand growth, often
after natural disasters or other state of emergency, by charging exorbitant prices on
necessities. 
⮚ It takes place when the price of a seller increases to a much higher level than is
considered reasonable or fair, for the goods, services or goods.

Example 3.3

For $10,000 a year GlaxoSmithKline and other pharmaceutical

companies sell needed to treat AIDS. The skimming-strategy is
called this making fewer buyers higher profit margins. The poor
have no consumer power, so they have been failed by the market,
says doctors without borders president. 

Excessively Low Prices 

● Not only are high prices able to adversely affect society; low prices also could be harmful
to society. 
● This could happen when a low price encourages the consumption of a product that is
considered undesirable. 

Unwholesome demand 
⮚ This is the term used to describe consumer interest in an undesirable product.
⮚ Monash University (2018), stated that the desire for goods, services, and activities that
are thought to be harmful to one's personal and social well-being. This includes a desire
for illegal drugs, excessive amounts of alcoholic beverages, and speeding.

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Example 3.4
Gun control advocates believe that the availability of “Saturday night
specials” small, inexpensive handguns increases the likelihood that guns
will be used in drunken brawls, domestic disputes, and other emotional
situations where guns would not have been used if they were more
expensive to obtain. 
 
● A most legal strategy for boosting costs on products whose package disposal
unnecessarily contributes to trash or landfills is to add a charge for this negative
environmental effect to the item's price and then refund the money to customers who
return the package for recycling.

Example 3.5
Eleven states currently have “bottle bills'' imposing package-
return deposits on bottles and/or aluminum cans, usually of P2.50.
Deposit refund schemes (DRS), which have long been used for glass
bottles, are now being used on plastic beverage bottles. 
● A deposit fee is charged at the time of purchase, and it is
refunded to the buyer when the bottle is returned using a
specially designed system Watkins (2019).

Green Marketing
⮚ It is a more market-based approach, this entails consumers paying a premium for
ecologically friendly products. 
⮚ According to Fernando (2018), green marketing is the practice of creating and
promoting products based on their actual or perceived environmental sustainability.

Predatory pricing
⮚ This is illegal under antitrust law because it makes markets more vulnerable to
monopolization Kelton (2020).
⮚ A competitor suspected of predatory pricing could face legal action under Sherman
Antitrust Act Section 2 (“Every person who shall monopolize, or seek to
monopolize... trade or commerce... will be judged guilty of a felony...”). 

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INAPPROPRIATE PRICE DIFFERENTIAL
● It is sometimes not the level of pricing that causes problems, but rather the price
differences between different purchasers.

Price segmentation
⮚ It is when a company sells an item at different prices to different buyers. Price
segmentation is a key approach for optimizing earnings when done correctly. On the
other hand, it can cause societal issues if done incorrectly. 
⮚ As stated by Nazari & Sheikholeslami (2021), price segmentation is a method in which
prices are allowed to fluctuate based on "fences" such as purchasing time, location, client
traits, product qualities, and so on.

Limitations on Consumer Price Segmentation

● When consumers perceive a price-segmentation practice to be unfair, the ensuing
consumer outrage is likely to affect the revenues of the offending sellers.
● When feelings of unfairness are repeated frequently, they can lead to a demoralizing
cynicism about the benefits of a free-market economy. 

Example 4.1 
The Coca-Cola
temperature and changes the cost of its cold drinks
correspondingly in 1999, according to reports. Despite the fact
that it was a novel idea for a price-segmentation fence, there
was a strong negative reaction. “What comes next?” one
observer wondered. A machine that x-rays people's pockets to
see how much money they have and then raises the price
accordingly?” Pepsi, Coke's competitor, quickly distanced itself
from the proposal. 

● The importance of perceived profits in fairness assessments can be viewed in the light of
the sense that this price-segmentation method is unjust. Because consumers are likely to
compare Coke's existing vending machine profits to their own, the company's receiving a
bigger profit in hotter weather without exerting any additional effort would appear
unjustified and unfair. It's vital to note, nevertheless, that the consumers' assessment of

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 the seller's "reference profit" is crucial. There are unlikely to be any substantial
objections if Coke proposed utilizing temperature-sensing vending machines to offer soft
drink discounts during cold weather. 

Price Segmentation as a Means of Restricting Competition

● When price segmentation is used to counter market competition, it can have negative
societal consequences. 

Example 4.2
Standard Oil, founded by John D. Rockefeller, was
one of the big nineteenth-century conglomerates that
prompted the Sherman Act and subsequent antitrust
legislation. The main variable expenses of the kerosene and
other oil-related goods sold by Standard Oil were
transportation of the oil after spending the fixed costs of
purchasing the oil wells and building the refining plants. By
securing lower freight pricing from the railways than his
competitors, Rockefeller was able to maintain his
transportation costs lower than his competitors. Because of
his cheap costs, Rockefeller was able to set low consumer
pricing, which gave him even more power to negotiate low
freight rates that his competitors couldn't match.

Furthermore, offering special privileges to a limited group of customers has not been
declared unlawful in and of itself. Instead, the rule of reason criterion was used to determine if
the behavior in issue actually damaged competition and whether there were any extenuating
circumstances. 
These potentially justifying circumstances fall into the following two categories:
1. Cost-Justification Defense - It is permissible for a seller to pass on cost savings to
customers in the form of lower prices if a client truly costs less to service. Because
processing huge numbers of items frequently results in lower per-item costs, this defense
may allow volume discounts. The defendant, however, bears the burden of proving the
lower costs under this defense.
2. Meeting-Competition Defense - A supplier can justify charging a low price to one client
while charging a higher price to other customers by showing that the low price was
necessary to compete with the supplier for the customer's business.

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Example 4.3
The Borden Milk Company was not penalized for selling
milk to A&P supermarkets for particularly low prices because
A&P told Borden that its price range was "not even in the
ballpark" given the prices of the competing milk suppliers
who had contacted A&P. 

 Although the Robinson-Patman Act is well-suited to prohibiting grossly anticompetitive

practices, such as those of John D. Rockeffeler, it clearly still allows many opportunities
for price segmentation in business markets.

INADEQUATE PRICE COMMUNICATION

● An important aspect of protecting competitiveness on the market is ensuring that clients
get sufficient information on prices and products to allow them to make buying choices
that suit their needs.
● Many factors contribute to low price-level knowledge among customers, but sellers can
exacerbate these factors by engaging in pricing practices with a little more purpose than
making it difficult for customers to know what they are paying.

Manipulation of Price Formats

● Managing price format, the manner in which a price is expressed can be critical for
effective pricing. Campbell (2020) explained that an effective pricing strategy accurately
connects the value of your service with the willingness to pay of your target customer.
● As mentioned by Stiving (2021) the process of charging different prices for the same or
similar product or service is known as price segmentation. 
● When a seller's price-format practices appear to serve no purpose other than to obscure
what the customer must pay, these practices have been criticized as exploitative or
manipulative.
Example 5.1
Using ninety-nine and other just-below-price
endings to express prices can raise concerns about a
seller's honesty and integrity. A great example is
Robinson's Department Store that uses ninety-nine on their
products.

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 ● Customers prefer to round to the next lowest monetary unit due to what is known as the
left-digit effect. We perceive the left digit first and generate an instinctual opinion on
price before our logic can catch up.
●  Even if the price is roughly the same, a lower first number at the beginning of a price
(e.g., ₱199.99 vs. ₱200) has a significant psychological influence. Endings in 99 boost
sales of low-value items, with customers focused on the lower digit on the left (Kusher,
2018). 

Example 5.2
Many hotels, airlines, and phone service providers irritate customers by
loudly advertising competitive prices while remaining silent about
numerous fees and extra charges that frequently add 10% or more to the
cost of the service.

Misleading Merchandising
⮚ Some unethical price-communication tactics involve merchandising difficulties, such as
product display and packaging. 

Example 5.3
Puregold has discovered that many consumers believe that food
items featured in end-of-aisle or other displays are sold at reduced costs.
Sellers that display regularly priced products in this manner have been
accused of exploiting those customers.

● A widespread price-origin assumption is that consumers can achieve a reduced unit

pricing like a per-ounce or per-pound price on a product by choosing a larger package
size rather than a smaller one.
● In actuality, there are frequently quantity surcharges and that is greater unit pricing for
bigger package sizes than for smaller ones.

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 Quantity Surcharges
● According to Manning (2019), quantity surcharges occur when a shop stocks a product
in two sizes and offers a promotion on the smaller one, the larger size subsequently costs
more per unit than the smaller one. 

Price sensitivity
⮚ It exceeds the crucial values in price-decrease breakeven calculations tends to make price
cuts profitable and result in lower item prices. 
⮚ One of the reasons that lead to a lower appropriate price is excessive price sensitivity. On
the other hand, keeping the price low on such fast-moving commodities is necessary for
retaining a favorable retail price image.

Using Fictitious Low Prices as Bait

● In order to catch consumer attention, vendors may offer prices that appear to be very low
but are not as attractive as they look to be, and may even be fictitious.
● Some sellers offer enticing pricing discounts, but contain severe restrictions in fine print
that buyers commonly overlook.

Example 5.4
A very low advertised rate for a home mortgage might
involve large upfront interest payments, have a variable
interest rate, or even turn out to be a short-term balloon loan.
A related misleading use of price as bait is a consumer credit
provider advertising, first month free, when what is meant is
the payment for the first month is added to the amount
borrowed on which interest is charged.

Teaser rates
● Kagan (2021) explained that teaser rates refer to a credit product's introductory rate,
which is usually levied at the beginning of the term. Borrowers may be charged an
introductory rate of 0% on credit cards.
● They are adjustable-rate mortgages ARMs are well-known for having a low initial interest
rate which helps to entice buyers (Kagan, 2021).

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 ● These may help to make ARMs more appealing to consumers than regular mortgages
(Kagan, 2021).

Example 5.5
Would it be clear from the incomplete pricing
information to Mastercard that their interest rate could more
than double if customers make a late payment? Some
merchants put a very low price on an item to attract
customers to their store or office, then pretend that the
advertised product is sold out and try to persuade the
customer to purchase a more expensive item.

Example 5.6

It is prohibited for a merchant to fail to claim a discount to

any consumers. This technique is known as bait and switch.
Businesses do this all the time, especially on “Black Friday” and
during the rest of the holiday shopping season.

● As stated by Hayes (2021), to conduct bait and switch the seller develops an enticing but
ingenuine offer to sell a product or service that the seller doesn't decide to sell in the first
place. 
● The bait is the original marketed deal. So instead of buying what they originally
promoted, they convert their customers on to something which is usually more expensive
or has some other advantage for the advertiser.
● Generally, the switch is when a consumer will pay a higher price for a commodity than
they for the advertised product, which results in larger profits for the vendor. Bait and
switch is also unlawful under the Consumer Fraud and Deceptive Business Practices Act.

PRIMACY OF ETHICS AND SOCIAL RESPONSIBILITY

From this discussion of four types of societally questionable pricing practices
(1) Price fixing, 
(2) Inappropriate price levels;

15
(3) Inappropriate price differentials, and 
(4) Inadequate price communication it can be seen that some pricing techniques often considered
unethical and/or socially irresponsible are not illegal. 
● Despite this, it is important that sellers take concerted steps to avoid such practices. The
guiding principle of the marketing concept focuses the seller toward using every feasible
means to satisfy customer needs. 
● Because customer needs include the feeling of being treated fairly, sellers would be wise
to avoid even the appearance of manipulative or deceptive pricing. 

Example 6.1
If a retailer's quantity surcharges insult customers,
the surcharges should be reassessed, even if they are the
outcome of the retailer's normal and acceptable price-setting
procedure. Despite the low-price sensitivity of that item,
lowering the price of a brand's larger packaging size could
be seen as an investment in creating a positive long-term
relationship with customers.
It is important to note that, even when legal, pricing methods that are regarded unethical
can have major negative effects for the vendor.
● Consumer rage over being treated unfairly has been observed to lead to actions much
beyond those predicted to result from simple dissatisfaction with a company's product or
service.
● Angry customers are likely to cause a consumer to abandon a company's product, or all
of the company's products and also more inclined to transmit unfavorable information
to other customers, to create or contribute to "hate websites," and to register complaints
with consumer protection organizations and other outside organizations.
● It's also worth noting that, when it comes to price setters' legal, ethical, and social
responsibility, it's the ethical and social responsibility guidelines that are, in a sense,
primary. 
● Ethics and social responsibility pricing requirements have been formalized into
government laws and regulations to the extent that it is practical.
● This codification is a continuous process. As a result of engaging in pricing practices
that violate ethical standards and social responsibility requirements, the practice may be
further restricted in the future by the application of government rules and regulations.

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