Chapter 6 Marketing and Consumerism

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