Chapter 6 Marketing and Consumerism – Flashcards
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Bait and Switch
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Advertising a lower priced item to lure customers in to offer them a more expensive item.
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Brand Loyalty
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Buying decisions based on preferences to always purchase a certain type of product from a particular brand.
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Contentment
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The state of being satisfied with what you have.
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FTC/Federal Trade Commission
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The main federal agency designed to enforce consumer protection laws.
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Fraudulent
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Intentionally false or deceptive practices.
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Impulse Purchase
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An unplanned, spur of the moment, purchase generally sparked by advertising and emotion.
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Incentives
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Something that motivates or encourages someone to do something; coupons or special offers from a company to entice you to buy something
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Marketing
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Everything a company does to get consumers to buy their product.
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Photoshopping
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Digitally changing/enhancing a photograph to make it look better than the actual item
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Product Placement
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The paid display of specific products (food, drinks, clothing, and identifiable brands) in movies, television, and media for advertisement.
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Repetition
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One of the most powerful marketing tactics used by companies to get you to remember their ad, slogan, or jingle.
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BOGO
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Buy One, Get One FREE
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Coupon
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A voucher entitling the holder to a discount for a particular product.
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Rebate
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A partial refund
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Black Friday
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The day after Thanksgiving, regarded as the first day of the traditional Christmas shopping season, on which retailers offer special reduced prices.
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Referral Incentives
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Example: Tell three friends and get yours free!
