What does this week’s settlement between the Consumer Product Safety Commission and the founder of Buckyballs mean for your business? What does it mean for the industry overall? And most importantly, what does it have to do with YoYos?
Read MoreReputation. Whether you realize it or not, your reputation is built with every product manufactured, sales presentation given, telephone call answered, advertisement placed and article posted on social media. Everything you do―and, conversely, everything you don’t do―shapes your reputation and ultimately your brand equity. And there’s rarely a more important time to have a stellar brand reputation than in the event of a product recall.
Read MoreJason Vorhees. Freddy Krueger. Michael Myers. Three classic horror movie villains that can send shivers down the spine with the mere mention of their names. But nothing strikes fear in the heart of product managers everywhere more than one thing: Recall.
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Recently the CPSC took the first steps in more than a decade toward banning a type of product, but that is only one of many actions the commission has taken against businesses recently.
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The message is clear: Fortune 1000 companies are fully aware of the need to protect their brands, and as such, they expect their distributor partners to deliver safe and compliant products.
Read MoreJust for a moment, try to imagine that a promotional product you sold to your largest customer has suddenly become the subject of a government recall.
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Do you have a compliance program? Does anyone care if you do? Absolutely.
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It seems like every week I read an article lamenting the Consumer Product Safety Improvement Act (CPSIA) and the efforts underway in Congress to roll back some of the provisions of this law.
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