I am currently going into marketing, and product liability is a very important componet of marketing. Product
Question:
I am currently going into marketing, and product liability is a very important componet of marketing. Product liability is when a product is deemed ineffective due to the product not preforming as well as it is suppose to or as advertised. This is very important for a marketing team because a falsey advertised product is deemed ineffective which can lead to many problems within a company and even possible lawsuits. A company called "Minus Cal" fell victim to product liability through false advertisement and ended up going bankrupt. Why? "Minus Cal" claimed to help you lose weight, but when the CEO got in a heated buisness pitch to inquire some investors The CEO of "Minus Cal" said he never said "Minus Cal" would help you lose weight even though his advertisement said "Lose weight faster". That is one example of product liability, but in order to be a good honest marketer you need to understand the workings of product liability in and out.
My first subtopic is breach of waranty. Breach of waranty means that the waranty contract signed and offered by the company is valid and unexpired but the company does not fulfill the waranty even after the purchased product has become defective within the waranty window. My second subtopic is design/manufacturing defects, which is when the design or manufacturing of the product is dangerous or inefective, therefore the purchased product has become inefective. My third subtopic is marketing defects, a marketing defect (also known as false advertisment) is when a product misleads the consumer by lying about what the product is capable of. Marketing defect is also when inadequate warning lables on the product do not warn the consumer about the dangers of said product.
Wri-te a comment that includes:
- Suggest a related subtopic for your classmate to possibly include in his/her report
- Explain what you would hope to learn from reading your classmate's report
Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian