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Price Control PoliciesOn Luxury Televisions in Bangladesh
Table of Contents1. Introduction...............................................................................................................2
1.1 Purpose of the study...............................................................................................4
1.2 Objectives of the Study...........................................................................................4
1.3 The scope of the Study...........................................................................................4
2. Methodology.............................................................................................................5
2.1 Research Approach................................................................................................5
2.2 Research Purpose..................................................................................................5
2.3 Research Type......................................................................................................6
2.4 Data Collection.......................................................................................................6
2.5 Sample...................................................................................................................7
2.5.1 Sample Size.....................................................................................................7
2.5.2 Sampling Technique........................................................................................7
2.6 Limitation................................................................................................................8
3. Background...............................................................................................................9
3.1 Price Control and its impact....................................................................................9
3.2 Different Kinds of television.................................................................................11
4. Current status of price control measures on the luxury television market...............15
4.1 Current pricing in the Luxury TV Market in Bangladesh....................................15
5. Findings and Recommendations.............................................................................19
5.1 Impact on economy...........................................................................................21
5.2 Effect on society...................................................................................................22
5.3 Recommendations................................................................................................22
6. Conclusions............................................................................................................23
7. Reference...............................................................................................................24
1
1. Introduction
The first televisions were brought to Bangladesh in 1964 by Nippon electronics. To start
with, East Pakistan, as Bangladesh was then known, had very poor
telecommunications. Between 1959 and 1963, the first 100 KW medium wave and short
wave transmitters were installed in Dhaka in order to improve communication between
the two wings of Pakistan separated from each other by over 1,200 miles. There were
relaying stations in Chittagong, Sylhet, Rangpur, Rajshahi and Khulna. Nippon
Electronics partnered with the government of Pakistan for the “East Pakistan TV
Project” and set up a workshop and office in Tejgaon, Dhaka around 1963. The imports
of the first television sets from Nippon Electronics Japan rolled into Bangladesh in 1964
almost 3 decades after it was introduced in Europe, USA and Russia.
By the end of the 1960s, there was a satellite station operating from Chittagong along
with two relay stations in Khulna and Rajshahi. By 1970, there were 35 hours of weekly
telecasts, mostly in Bengali but the number of television sets remained very sparse and
accessible to the upper class in Dhaka and few other metros. Following the liberation of
Bangladesh war the number of televisions in homes increased as the general level of
income rose. However, according to the bureau of statistics steepest the steepest hikes
in the number of televisions in Bangladesh came in 1981, 1990 and 1999. The three
phenomena which had contributed behind this increase were
1. The royal wedding of Charles, Prince of Wales, and Lady Diana Frances
Spencer which took place on Wednesday, 29 July 1981 at St Paul's Cathedral,
London the live telecast of which attracted an estimated TV audience of 750
million people around the world including Bangladesh. Many people from that
decade attribute this occasion as the reason why they bought their first television.
2. Cable TV was introduced in 1990 and as result of which for the first time people
had access to a wide range of international channels.
3. Private television ownership permitted in 1999.
2
The number of televisions in Bangladesh has increased from a few hundred in the
1970s to thousands in the 80s and 770,000 by 1999.
The advancements of technology has brought in evolved the kinds of television
available. Through the evolution from those big bulky CRTs of the past to the slim HD
Televisions of the present the audience has progressed from the fuzzy pictures to 3
dimensional high definition viewing today.
Figure 1 Braun HF 1, Germany, 1959 Figure 2 Panasonic HDTV, 2010
Television which was a luxury in the 70’s became a necessary feature for all homes by
the 1990s. The 21st century brought with it many different kinds of high quality viewing
experience with the higher price tag so that certain kinds of television became a luxury.
Bangladesh being a developing nation with a majority of its populations living in poverty
and very tight foreign currency reserves have pushed the government to discourage the
imports of luxury items. As it is a free and open market the way through which the
government has tried influence the demand is by raising prices through taxes and
hence lower the demand.
3
1.1 Purpose of the study
This research aims to analyze the price control policies taken up by the government of
Bangladesh to control the demand and supply of luxury televisions in the market and its
impact in the economy and society.
1.2 Objectives of the Study
The overall objectives of this report are as follows:
To study the extent of price control measures taken up by the government in the
luxury television market.
To investigate the implications of the price control measures on the economy of
of Bangladesh.
To examine the impact of the price control measures in social context
1.3 The scope of the Study
The study focuses on the current status of price control measures that effect the luxury
television market in Bangladesh and its effect on prices and hence demand and supply
of luxury televisions. The study analyses the effect of such measures in the broader
context of economy and society.
Given severe resource and time constraints, it was not possible to examine the many
complex issues that would define the luxury television market. In particular, the study
did not explore the effect of free-market pricing on the interaction of non luxury and
luxury televisions or how this interaction would shift demand, prices, or revenues. It
was also necessary to make the assumption that consumption patterns would not
change in the absence of price controls.
4
2.MethodologyA research methodology defines what the activity of research is, how to proceed, how to
measure progress, and what constitutes success. The following section highlights the
alternative methods used to conduct this research at its various steps.
2.1 Research Approach
When conducting research there are two approaches to consider: Quantitative and
Qualitative. Quantitative research includes large randomized samples, more application
of statistical and numerical data and tools. Quantitative research is used to determine
the relationship between one thing and another in a population where as qualitative
research methods focus on providing a complete picture of the situation with the aim of
increasing the understanding of social processes and interrelation.
Given the above two approaches this analysis falls mainly in to the category of
Quantitative research as it aims to understand the relation between price control
measures, its effect on prices, demand and supply of luxury television. In part this
research is also qualitative as it attempts to understand the impact of such measures to
the economy and society.
2.2 Research Purpose
According to Yin (1994) and zikmund (2000) research can be used for three purposes.
These are exploratory, descriptive and causal.
Exploratory research focuses on finding out what is happening; to seek new insights
and to assess phenomenon in a new light (Saunders et al.2000) Descriptive research
aims to describe the characteristics of a population or phenomenon. It seeks to
determine the answers to who, what when, where and how questions (Zikmund, 2000)
Whereas causal research aims to explain the relationship between variables. (Saunders
et al.2000)
5
The research purpose in this study has been assessed as both causal and descriptive
in nature as it seeks to find the effect of price control measures on the price, demand
and supply of luxury televisions and how these measures are effecting the luxury
television market and the economy and society of Bangladesh.
2.3 Research Type
A research can be classified from the viewpoints of objective, function, types of data,
research place and from the viewpoint of nature.
From the view point of Objective: This is an applied research as it is set to
establish and verify the relationship between several macroeconomic factors and
their impact on the luxury television market.
From the viewpoint of research place: For making this research paper as
accurate as possible here both desk research and Field research are used, but
the proportion of desk research is higher because of the greater usage of
secondary data.
2.4 Data Collection
As mentioned both secondary and primary data were used to conduct this research.
Secondary data were obtained from the following sources:
Newspapers, periodicals and websites
Publications of Trade organizations
Publications of Government agencies.
Publications of Industry analysts
Publications of Financial analysts
6
Primary Data:
Primary data were obtained through face-to-face and telephone interviews with experts
and employees of different suppliers of luxury televisions using an open ended
questionnaire.
2.5 Sample
As this research centers on the luxury television market hence the primary respondents
or sample units for this research were the suppliers and resellers of luxury television.
2.5.1 Sample Size
The research was limited to 4 respondents out about 20 resellers and manufacturers.
2.5.2 Sampling Technique
As the time span for this research was very short convenience sampling technique was
used to get the final sample of 5 companies which were:
Transcom Electronics
Samsung
Konka
Walton
7
2.6 Limitation
The findings and analysis of this report has its limitations which are as follows:
Sample Size: We took 5 suppliers of luxury television out of 15 that currently
operate in Bangladesh. Including more suppliers of similar types would have
yielded more accurate results.
Time and resource constraints: The time and resource constraints did not
allow for in-depth information and survey on larger sample population.
Non Co-operation by the respondents: The time of surveying was in the
afternoon which was a peak working hour for employees hence some of them
were reluctant to cooperate as they were busy.
8
3.Background
3.1 Price Control and its impact
Price controls are governmental restrictions on the prices that can be charged for
goods and services in a market. The intent behind implementing such controls can stem
from the desire to maintain affordability of staple foods and goods, to prevent price
gouging during shortages, and to slow inflation, or, alternatively, to insure a minimum
income for providers of certain goods. There are two primary forms of price control,
a price ceiling, the maximum price that can be charged, and a price floor, the minimum
price that can be charged.
Historically, price controls have often been imposed as part of a larger incomes
policy package also employing wage controls and other regulatory elements.
Although price controls are often used by governments, economists usually agree that
price controls don't accomplish what they are intended to do and are generally to be
avoided.
A price ceiling is a government-imposed limit on the price charged for a product.
Governments intend price ceilings to protect consumers from conditions that
could make necessary commodities unattainable. It is also called an implicit tax
on producers and an implicit subsidy to producers that causes a welfare loss
identical to the loss from taxation. (Vanbard, 2004)
A price floor is a government- or group-imposed limit on how low a price can be
charged for a product. It is a tax on consumers and a subsidy for producers that
transfers consumer surplus to producers. (Vanbard, 2004)
3.1.1 Price Control and taxation
As established in the previous section, Price controls are implicit forms of taxation
Legislators have three needs in mind as they prepare tax laws- -the need to raise
revenue, the need to be fair to taxpayers, and the need to influence taxpayers' behavior.
9
Below are three excise taxes that have affected the economy and consumers'
behaviors. In trying to influence buyer behavior taxation acts same as price control
techniques.
A sin tax is used to discourage the use of products and services that could pose a risk
to someone's health, such as alcohol and cigarettes.
The gasoline excise tax is a user tax on gasoline purchases. People who use gasoline
pay taxes on it. These revenues maintain and build roads and highways and regulate
underground pollution related to gas storage. Urban area mass transportation is
developed and maintained by gas tax revenue.
Luxury taxes are taxes on expensive, nonessential items, such as luxury cars. Revenue
from luxury taxes is redistributed through government programs that benefit all citizens.
The taxes on luxury television in Bangladesh attempts to discourage their imports to
conserve foreign currency, raise government revenue and redistribute wealth.
3.1.2 Price control: The criticisms
One of the key reasons why it is important to keep inflation in check is that it inevitably
leads to price controls--a cure that is often worse than the disease. Venezuela is only
the latest in a long line of countries that have tried and failed to cure inflation with such
methods.
The primary criticism leveled against price controls is that by keeping prices artificially
low, demand is increased to the point where supply cannot keep up, leading to
shortages in the price-controlled product.
For example, Lactantius wrote that Diocletian
"by various taxes he had made all things exceedingly expensive, attempted by a
law to limit their prices. Then much blood [of merchants] was shed for trifles, men
were afraid to offer anything for sale, and the scarcity became more excessive
and grievous than ever. Until, in the end, the [price limit] law, after having proved
10
destructive to many people, was from mere necessity abolished." (Lactantius, ca
300)
As with Diocletian's Edict on Maximum Prices, shortages lead to black markets where
prices for the same good exceed those of an uncontrolled market. (Wessels,
2000) Furthermore, once controls are removed, prices will immediately increase, which
can temporarily shock the economic system. price controls always break down after a
short time because there are too many prices that, by their nature, cannot be controlled
for any length of time. The prices of farm commodities will vary with the weather; those
for energy and raw materials will necessarily move with international prices. We can't
control the prices foreigners charge for things we import and it would be stupid for us to
give foreigners a gift by artificially holding down the prices of things we export. This
inevitably requires adjustments in prices for manufactured goods as the cost of inputs
rise.
Nevertheless, politicians have tried to control commodity prices even if it was ultimately
futile. Long after the price controls imposed by Richard Nixon were largely scrapped,
those on oil and natural gas were maintained. An increasingly complicated and
convoluted system evolved to prevent Americans from paying the world price for energy
that was at the root of many of our energy problems during the Carter administration.
Not surprisingly, they vanished once Ronald Reagan finally decontrolled all energy
prices, one of his first acts as president in January 1981. (Bartlett, 2010)
3.2 Different Kinds of television
The TV is an essential item in the living room of most homes. Besides their original
purpose, which was to watch television, TVs have also become the medium for
purchased and rented movies, commercial industrial displays and games. There are a
few basic types of TVs: direct view TVs, rear projection TVs and high-definition (HD)
TVs. Included in the last two are plasma and liquid crystal display (LCD) models. These
different kinds of television differ from each other in the following areas:
11
Technology used
Picture quality
Viewing angle
Contrast ratio and black level
Projection abilities
Each of these has their own set of features. From tubes to plasma, there are more
models on store shelves than covers of magazines. Before exploring analog versus
digital, SDTV, HDTV, and EDTV, let us take a look at the types of televisions in today’s
consumer market.
3.2.1 Direct View (CRT) TVs
Direct view or CRT TVs are the old stand-by, tube-type sets we've all come to know
and love. Because these sets use cathode-ray tubes to "paint" the image on the screen
direct-view TVs have a bright, clear picture that can be viewed from any angle in the
room. All science aside, CRTs come in all shapes and sizes up to about 40-inches.
They feature a good picture from all angles, the best black level, and are significantly
lower in price than other TVs. Despite their bulky and heavy build, tube televisions are
long-lasting and acclaimed for retaining a good picture throughout its lifespan, which
can be decades. These Tvs fall well within the purchasing capacity of the middle income
groups of Bangladesh and are very economical and hence are not included in the scope
of this study
3.2.2 Flat Panel
Flat panel TVs are all the rage now, with their slim profiles and large screen size. There are two
types to choose from: plasma and LCD. While these TVs can't be beaten in terms of cool
points, there are some things to consider. These units are pricier then their CRT counterparts
and hence deemed as prestige goods in the Bangladeshi context and hence all TVs falling in to
this category are the subject of this study.
12
Plasma TVsPlasma TVs are not TVs in the traditional sense. They are more like monitors and need
an external TV tuner to display broadcast signals. Plasma TVs work by illuminating
thousands of tiny fluorescent lights to create an image. Plasma displays are digital and
have higher resolutions than CRTs. When shopping for plasma TVs, it's important to
note that not all plasma displays can produce the full resolution of HDTV. Some Plasma
TVs are considered EDTVs (enhanced-definition TVs), with a resolution of 852x480. On
the higher end, there are full-blown high-definition plasma TVs capable of a dazzling
1,920x1,080 resolution.(Types of Television sets, 2010)
Liquid Crystal Display (LCD)
LCDS work like the screen on your laptop. LCD televisions are
by far the most common type of television sold in 2009. LCD
televisions have a wide range of sizes from 15 to 55 inches.
With lower costs and a wide array of sizes, LCDs have
replaced CRT televisions as the standard home television.
LCD televisions do not have the same color and black level
performance of plasma and CRT sets; however, their low
power consumption, cost and glare-free visibility have given
them an edge over the other sets. Like plasma televisions, LCD televisions are
generally only 4 to 5 inches thick. (Types of Television sets, 2010)
The LCD technology has further evolved in to the following ways:
LED-backlit LCD display
An LED-backlit LCD display is a flat panel display that uses LED backlighting instead
of the cold cathode (CCFL) backlighting used in most other LCDs. The use of LED
backlighting allows for a thinner panel, lower power consumption, better heat
dissipation, a brighter display, and better contrast levels.[1] LED backlit LCD TVs use the
same TFT LCD technologies as CCFL backlit LCD TVs. Picture quality is primarily
based on TFT LCD technology independent of backlight type. While not an LED display,
13
a television using this display is called an “LED TV” by some manufacturers and
suppliers.
HDTV
HDTV is a marked step up from the picture quality of a
standard digital television. Using cutting edge technology it
presents images that are startlingly real, and also claims to be
able to use a wider range of colours than its old counterparts.
At present, even the most developed HD television can only
show something like 25% of the colours that the human eye can see – although Laser
television could change that for those with the cash to spend on it. HD also has the
advantage of being cheaper, and you can watch it from just about anywhere in the room
without the need for annoying extras like glasses.
A final plus point for HDTV is that there are hundreds of channels and dozens of
broadcasters who are offering programs in HD, so you can pretty much watch anything
you want in the highest of high definition. (Zwellig, 2010)
3D TV
3DTV is a revolution in the viewer experience, although it doesn’t offer images that are
genuinely 3D, it gives the appearance of 3 dimensions. At the moment there is an
argument raging as to whether it’s a fad or whether it’s here to stay, and the mixed
response of broadcasters hasn’t offered any clear solutions: on the one hand you
have Sky, which has offered a dedicated 3D channel, on the other hand you have –
well, just about everyone else. That’s not to say that there isn’t material out there; some
manufacturers are offering their own channels and there are loads of films available,
you just have to look a little harder for it. (Zwellig, 2010)
14
4.Current status of price control measures on the luxury television market
The luxury television market is a largely deregulated market and as such the
government cannot intervene directly to control prices. Hence the government has
attempted to control the price and hence demand and supply indirectly through higher
taxation.
Tax on televisions depends on the following things
• CBU- if it arrives completely made then highest tax rate is charged.
• SKD- semi knocked down- slightly lower tax (the panel and body arrives
separately- this is the most common one practiced by brand TV sellers like Sony,
Samsung, Philips.
• CKD- completely knocked down-no one has started bringing all parts separately
and manufacturing LCD’s yet- this has the lowest tax rate. Though Rangs is
attempting to do this by 2014.
The rate of taxation on the types of units and the changes in tax rates from 2009-
2011 is as follows:
Table 1. Tax rates on Plasma and LCD televisions from 2009-2011 (NBR, 2011)
2009 2010 2011CBU SKD CKD CBU SKD CKD CBU SKD CKD
18 - 21 inch 7,000 5600 3500 8,000 6400 4000 10,000 8000 5000
22 - 29 inch 10,000 8000 5000 12,000 9600 6000 15,000 12000 7500
30 - 42 inch 12,000 9600 6000 15,000 12000 7500 20,000 16000 10000
43- 52 inch 45,000 36000 22500 50,000 40000 25000 75,000 60000 37500
53 and above 70,000 56000 35000 80,000 64000 40000 100,00
0
80000 50000
4.1 Current pricing in the Luxury TV Market in Bangladesh
The current competing brands in the luxury TV market in Bangladesh are as follows
Global – Philips, Sony, Samsung, LG, Panasonic, Toshiba, Sharp Chinese – TCL, Konka, Haier, Dawoo, Local – Singer, Walton, My One, Mercel, Electra, Transtec, Rangs,
15
Experts say that the market size for the year 2012 in approximately 22,000 units assuming a growth rate Est. 30% per Year
The pricing of the different branded luxury televisions as of 31 Dec 2011 is as follows:
16
Price of Chinese and local brands.
22 H
D
32 H
D
40 LED
42 FHD
46 LCD
40 3
D
46 3
D
55 3
D
59 3
D
0
100000
200000
300000
400000
500000
600000
700000
800000
20102011
Figure: Graph of change in price of different sizes of LCD TV (Samsung) from 2010-11
17
Figure: Graph of change in price of different sizes of LCD TV (Konka) from 2010-11
22 H
D
32 H
D
40 LED
42 FHD
46 LCD
40 3
D
46 3
D
55 3
D
59 3
D
0
100000
200000
300000
400000
500000
600000
700000
800000
20102011
Figure: Graph of change in price of different sizes of LCD TV (Transtec) from 2010-11
22 H
D
32 H
D
40 LED
42 FHD
46 LCD
40 3
D
46 3
D
55 3
D
59 3
D
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
20112010
Demand for luxury televisions
The demand for luxury televisions is said to be moderately elastic which is shown by a proportionate increase in sales when prices are dropped during sale and special occasions.
18
5.Findings and RecommendationsAs a result of this research the following results have come to light.
The total tax have increased over the last 3 years. Tax rates on all kinds of units rose
about 15% between 2009-2010 and 25% between 2010-2011 as illustrated below:
CBU SKD CKD CBU SKD CKD CBU SKD CKD2009 2010 2011
010,00020,00030,00040,00050,00060,00070,00080,00090,000
100,000
18 - 21 inch22 - 29 inch30 - 42 inch43- 52 inch53 and above
As a result of this change in tax an usual phenomenon should have been the
consequent rise in prices as the study revealed prices of all sizes of LCD televisions fell
in the last 3 years. The powerful brands have decreased prices by at least 10%. The
highest decrease in prices were made to Sony Products which reduced prices by at
least 12-18% on all its products. The Chinese brands followed suit by decreasing price
by 20 to 25% Konka being one of the leaders in price reduction.
The local brands reduced prices by 10-15% in the same period.
The Change in price levels among the Big Brands, Chinese and local Brands are
illustrated below:
19
Big Brands Chinese Brands
Local Brands0
20
40
60
80
100
200920102011
Even though Taxes have increased companies were forced to reduce prices for the following reasons:
World recession: The recession that has hit the world since 2006 is still curtailing consumption as a result companies are forced to reduce prices to reduce inventory.
Saturated Market: The Bangladeshi LCD market is saturated with many brands with low differentiation as a result Price wars between the companies are pushing down the margins and considering the current scenario this trend will continue.
Loopholes in Customs regulations: Consumers are buying LCD-LED from Bangkok or Singapore at a very low price as no tax is charged and bringing them over as luggage. They are not getting any after sales service but they are happy with the bargain price they are getting.
Local Brands: Local brands have certain advantages and tax benefits as a result of which they are attracting more buyers by charging lower prices. This has caused the Chinese and big brands to reduce prices to remain in competition.
Following the law of Demand:
All other things remaining constant, if prices fall the quantity demanded will rise.
20
2009 2010 20110
5000
10000
15000
20000
25000
Total sales (approx)
Total sales (approx)
So the imposition of taxes have failed to increase prices and hence curtail demand.
5.1 Impact on economy
The high taxation has made the business for big brands tough as result the market is
flooded with cheaper and often lower quality brands.
The determining of market prices through the dynamic interaction of supply and
demand is the basic building block of economics. Consumer preferences for a product
determine how much of it they will buy at any given price. Consumers will purchase
more of a product as its price declines, all else being equal. Firms, in turn, decide
how much they are willing to supply at different prices. In general, if consumers appear
willing to pay higher prices for a product, then more manufacturers will try to produce
the product, will increase their production capacity, and will conduct research to
improve the product. Thus, higher expected prices lead to an increased supply of
goods. This dynamic interaction produces an equilibrium market price; when buyers
and sellers transact freely, the price that results causes the quantity demanded by
consumers to exactly equal the supply produced by sellers.
But when government adopts a price control, it defines the market price of a product
and forces all, or a large percentage, of transactions to take place at that price instead
21
of the equilibrium price set through the interaction between supply and demand. Since
supply and demand shift constantly in response to tastes and costs, but the
government price will change only after a lengthy political process, the government
price will effectively never be an equilibrium price. This means that the government
price will be either too high or too low. When the price is too high, there is an
excessive amount of the product for sale compared to what people want. This will
ultimately lead to increased inventory forcing companies to reduce prices which would
stimulate sales.
This is what has happened in the luxury television market in Bangladesh. The
government had increased prices to increase their revenue and discourage imports.
While in these objectives they have been successful the market has suffered because
of price wars and unhealthy practices taken up by the companies.
The customers who gamble by getting LCDs at a cheaper price from Bangkok or
Singapore evade taxes by bringing them as luggage. This has a 3 fold effect
The government suffers with loss of taxes.
The local resellers lose in terms of lost sales.
The customers suffer as they do not receive after sales service incase anything
goes wrong with their TVs.
5.2 Effect on society
The implicit price control attempts of the government have not worked following the normal patterns in the LCD hence its effect on society remains minimal.
The consumers are effected indirectly as they become victims of fraud and lower quality products as some companies have undertaken unethical practices i.e falsify country of origin, substandard parts amongst others, to survive in the stiff competition.
5.3 Recommendations
The following recommendations can be suggested to reduce the problems identified:
Tighter legislation and more vigilant Airport customs authorities to prevent the legal ‘smuggling’ of LCD televisions.
Reduce pressure on multinational big brands as they ensure that the consumers are getting value for their money.
22
Encourage efficiency and quality amongst local manufacturers to ensure that they compete not only in terms of price but in terms of quality as well.
Tighter regulatory bodies to investigate and prevent unethical practices. Let the market forces decide the price and demand and supply factors.
6.ConclusionsThe imposition of price controls on a well functioning, competitive market harms society
by reducing the amount of trade in the economy and creating incentives to waste
resources. Many researchers have found that price controls reduce entry and
investment in the long run. The controls can also reduce quality, create black markets,
and stimulate costly rationing.
The picture is illustrated in the Luxury Television market in Bangladesh which highlights
that implicit price control measures of taxation do not work in markets with many
competing suppliers. It only encourages price wars and aggressive competition which
often lead to unethical practices.
If the government only focuses on its short run motivations of higher tax revenues it may
be creating a black hole for the consumers of Bangladesh who miss out on high quality
viewing experience and entertainment as well as become victims of fraud and fake
products.
23
7.Reference
1.
Types of Television sets. (2010). Retrieved from ehow.com.
2. Bartlett, B. (2010, January 14). Venezuela inflation: Price controls opinions. Retrieved March 23, 2011, from www.forbes.com: http://www.forbes.com/2010/01/14/venezuela-inflation-price-controls-opinions-columnists-bruce-bartlett.html
3. Lactantius, L. C. (ca 300). On the Deaths of the Persecutors. Calvin College: (Christian Classics Ethereal Library ed.).
4. NBR. (2011). Tax Rates on Electronics. Retrieved from National bureau of Revenue: www.nbr.gov.bd
5. Vanbard, M. J. (2004). Taxation by another name. Rio Hondo: Rio Hondo University .
6. (2000). Economics. In W. J. Wessels. Chicago Press.
7. Zwellig, J. (2010, April 30). HD vs. 3D. . Retrieved from http://www.tvtechnology.com/Default.aspx?tabid=204&EntryId=591
8. Galbraith, John K., A Theory of Price Control,. Cambridge, Mass.:Harvard University Press, 1952.
24
9. “The Welfare Costs of Price Controls for Cars and Color Televisions in Poland: Contrasting Estimates of Rent-Seeking from Recent Experience,” by David Tarr. World Bank Economic Review, Vol. 8, No. 3 (1994).
10. Morton, Fiona M . S c o t t , "The Problems of Price Control" . Regulations: (An Yale University publication) Spring 2011 edition
Bangladesh Market Information was obtained from the following sources:
1. Naushad Al Rashid, Product Officer, Transcom Electronics,
2. Riaz ul Hasan, Sr. Marketing officer, Samsung
3. Iftekhar Ali, Brand Manager Konka
5. Jamshad S Kabir Marketing Officer, Walton
25