Chapter 13
Consumer Stakeholders: Information Issues
LEARNING OUTCOMES
After studying this chapter, you should be able to:
1. Describe the consumer movement and identify the consumer’s Magna Carta and explain its
meaning.
2. Identify product information issues that are affected by business’s social and ethical
3. Describe the role and functions of the Federal Trade Commission (FTC).
4. Explain recent consumer-related legislation that has been passed—Credit Card Act
(CARD) and the Consumer Financial Protection Bureau (CFPB)
TEACHING SUGGESTIONS
INTRODUCTION – The relationship between business and consumers is at the heart of
business’s role in society. Because the products and services that a business produces are the
primary reason for interaction between business and consumer, the ways in which that exchange
takes place is of central importance. In this chapter, the authors focus on the consumer
movement and product information issues, particularly advertising, warranties and labeling.
KEY TALKING POINTS – This chapter should be an easy one to discuss with students. Having
been immersed in a consumer society for all of their lives, and having been inundated with
advertising, they will be aware of many of the issues raised here. The authors describe four
types of advertising abuses: ambiguous advertising, concealed facts, exaggerated claims and
psychological appeals. One way to introduce this topic is to play commercials that illustrate a
particular advertising abuse and ask the students to identify the abusive tactic (applicable
accept the message so completely that they see little problems with it.
Neil Postman wrote an interesting book, Amusing Ourselves to Death (New York: Viking, 1985),
over two decades ago that still contains a strong message about the potential ills of subjecting
ourselves to extensive television viewing. Although his central concern is not television