Bains Sukhraj News Article Assignment 2 PDF

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Busi1110 S14 Jeannette Paschen July 5, 2019 News Article Assignment #2

Academic Integrity Statement “I confirm that this work is entirely my own, has been prepared by me, and adheres to the Academic Integrity Policy of KPU”.

In the CBC news article, The Canadian Press (2019) reports that Ticketmaster will be paying $4.5M for misleading consumers on prices. The fact of the matter is Ticketmaster was investigated by The Competition Bureau and they concluded, consumers were misled while purchasing tickets for events through the online Ticketmaster website. The Competition Bureau fined Ticketmaster LLC, TNow Entertainment Group Inc. and Ticketmaster Canada LP $4M in penalty and $500,000 for the Bureau’s investigation of the matter. The reason for all of this is because Ticketmaster’s prices, that were advertised online on their website did not reflect the true cost to the customer. Multiple fees, which were mandatory were added to the prices which added 20 to 60 percent to the original cost. All ticket vendors have been given a fair warning on the matter and that they should all improve their marketing practices, so they do not end up in the same situation as Ticketmaster. Basic ethics and social responsibility play a huge role in this situation with Ticketmaster, reason being Ticketmaster should not be treating their customers in such a bad manner. Ticketmaster was not honest, they did not compete fairly and they put the company’s interest above the customer, who are the whole reason they stay in business. Many companies have started to put the company before the consumer in order to increase their revenue. Even though to us consumers, we know it is the wrong decision, company’s do not see it that way because all they care about is increasing their revenue and making more money. In our text book, ethics is defined as “being honest, doing no harm to others, competing fairly, and declining to put your own interests above those of your company, its owners, and its workers (BCCampus, 2018, p.65). Ticketmaster was the total opposite in this situation as I have outlined above.

If I were the CEO of Ticketmaster, my first thing on my to-do list would be to issue an apology to the public and own up to the mistake. From what I have researched Ticketmaster have yet to issue an apology. Ticketmaster is one of the biggest ticket vendors in the world and the fact they got caught up in such a situation ruins their reputation. This may create issues in the future where people may not want to buy tickets from them because they feel they are getting ripped off or maybe some people may not want to collaborate with Ticketmaster which may create more business for other ticket vendors. I believe the bureau did a great job of putting out a warning for

all ticket vendors, this create precedent and shows that misleading consumer will not be taken lightly by any means.

Work Cited

Works Cited: The Canadian Press. (2019, Jun 27): Ticketmaster to pay $4.5M for misleading consumers on prices, CBC, Retrieved from https://www.cbc.ca/news/business/ticketmastermisleading-price-investigation-1.5192724 Business Faculty from Ontario Colleges and eCampusOntario Program Managers. (2018). Fundamentals of Business: Canadian Edition [E-Reader Version]. Retrieved from https://ecampusontario.pressbooks.pub/businessfuncdn...