Question
Develop an idea that solves a problem with a business concept.
Sample paper
FALSE ADVERTISING AND SOLUTION
L’Oreal is a renowned cosmetic company in the United States that has been in the market for a long time providing consumers with quality products. However, the company was charged of deceiving consumers through false advertising. The company claimed that its products, L’Oreal Paris Youth Code and Lancôme Génifique skincare products were providing anti-aging benefits to their users. According to their advertising campaign which was carried out in print media, television, radio, social media and the internet, the products were targeting the user’s genes (Ftc.gov, 2014).
The Federal Trade Commission (FTC) charged L’Oreal for making unsubstantiated and false claims as a way to sway to buy these products. According to L’Oreal, the products were clinically tested and proven to boost the activity of a user’s genes and stimulate the production of youth proteins. These proteins would make the skin to look younger in a week and the results would be visible in a specific proportion of users. However, the company was unable to support the claims.
The company has sold the Génifique skincare products since February 2009 and each container costs $132. In addition, the company has been selling the youth code since 2010 and a container costs $25. Customers from all over the country could get these products from the department stores, beauty specialty stores and retail stores. This shows that millions of consumers have been deceived into buying these products.
Related: Wage Issues under Collective Bargaining
An administrative settlement by FTC prohibited the company from claiming that the two skincare products boosts gene activities to produce proteins that make the skin look younger. In addition, the company should not make claims that the products respond faster to aggressors such as fatigue, stress or aging unless they can substantiate these claims by providing clinical or scientific evidence. Generally, the company should not make claims about these two products that contradict the results of any study or test.
Considering that people like taking care of their skins and look younger, engaging in false advertising in order increase sales in unethical. In order to develop good and reliable product, the following steps should be considered;
Concept-this clarifies the type of product to develop by setting basic directions and boundaries. The problem solved by the product and financial goals are stated. While developing anti-aging skincare products, the solution that the product provides should be stated as it is and not exaggerated (Adams, 2016).
Ideation– this is a brainstorming stage to find the ways in which the product solves the identified problem. An evaluation of the ideas is done and the best ones are chosen for further investigation.
Design-the best method is executed at this stage. Here all the details concerning the product are discussed and the product is made.
Testing– this step is supposed to verify if the original goals of the products are met and if there is additional refinement required. This is the most crucial process in the product development process. Skincare products for example, should be tested to ensure that they are safe for use and have no side effects.
Release– after testing and confirming that the product provides a solution to the problem and the solution is in line with the company’s goals, it can start the New Product Identification (NPI) process. At this stage, the company is ready to distribute it to stores for sales.
References
Adams, D. (2016). Five Phases of the New Product Development Process. [online] Smallbusiness.chron.com. Available at: http://smallbusiness.chron.com/five-phases-new-product-development-process-16006.html [Accessed 8 Nov. 2016].
Ftc.gov, (2014). L’Oréal Settles FTC Charges Alleging Deceptive Advertising for Anti-Aging Cosmetics | Federal Trade Commission. [online] Ftc.gov. Available at: https://www.ftc.gov/news-events/press-releases/2014/06/loreal-settles-ftc-charges-alleging-deceptive-advertising-anti [Accessed 8 Nov.
