The Dangers of False Advertising
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Written by: MarketingOutsourced
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Date: Sun, 4 Dec 2011 |
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Westpac has had to change their advertising tack after claiming their financial services are "stress free".
"When the corporate regulator saw that Westpac Banking Group had described products such as margin loans, exchange traded funds and self-funding instalments as “stress-free”, it saw red and the bank had to back down" - M. Heffernan, SmartCompany
In order to stand out in a busy market place brands, products and services must define and promote their unique selling point - what sets them apart from their competition. However all claims, particularly those made through advertising, must be sustainable. If a business can't deliver what it promises it can cost them dearly in both dollars and publicity.
"Famous litigant Homer Simpson sued the seafood restaurant, which had promised “all you can eat”, for kicking him out after serving him dozens of plates of food. Okay, that was a cartoon, but the lesson still stands." - M. Heffernan, SmartCompany
According to SmartCompany here are some claims to be careful with:
- Stress-free // “Stress-free” suggests the simplification of complex things. What might be simple for an industry insider is not necessarily simple for the average Joe, and the expression may discourage consumers from doing proper due diligence.
- Green // There’s a name for this: green-washing. If you’re going to spout the environmental credentials of your product, make sure you can back it up.
- Unlimited // A reasonable person would take that expression at face value, and internet service provider TPG is one group to have landed in hot water for advertising that its “unlimited cap saver” plan included unlimited calls and text for $59.99 per month, when in fact there are multiple exclusions to the plan.
- Guaranteed // If you say guaranteed, be prepared to show evidence and follow up on consumer complaints.
- Cheapest // Prices change so often, so it’s a promise that might be both difficult and expensive to meet.
Earlier this year footwear giant Reebok were forced to repay $25 million to its customers after making false advertising claims about the effectiveness of their toning shoes.
Finding the right advertising agency will not only increase your profits but help guard your business against communication missteps such as these.
Outsource My Marketing is a full service marketing agency that specialises in Strategy, Creative, Production and Marketing Management.
If you would like help with your marketing in Melbourne, Sydney, Brisbane, Adelaide, Perth, Darwin or Hobart then contact Jeremy Hope today on 1300 131 377 Mobile 0418 564 685
jeremy@outsourcemm.com.au
Source: The Dangers of False Advertising
Source: The Dangers of False Advertising
http://www.financebusinessarticles.com
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Westpac has had to change their advertising tack after claiming their financial services are "stress free". "When the corporate regulator saw that Westpac Banking Group had described products such as margin loans, exchange traded funds and self-funding instalments as “stress-free”, it saw red and the bank had to back down" - M. Heffernan, SmartCompany
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