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Protecting your Money: Advertising

Protecting your Money: Advertising. Coach Markus. Recognize questionable advertising techniques. Identify ways consumers can protect themselves from fraud. Demonstrate effective strategies to deal with a consumer complaint.

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Protecting your Money: Advertising

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  1. Protecting your Money: Advertising Coach Markus

  2. Recognize questionable advertising techniques. • Identify ways consumers can protect themselves from fraud. • Demonstrate effective strategies to deal with a consumer complaint. • Identify ways consumers can protect themselves from identity theft. Objectives

  3. http://www.youtube.com/watch?v=BUf3KZa4qVw Watch the video and see which types of advertising you see created by the ads: • Sex appeal • Peer Approval • Hero Endorsement Part 1: Advertising to consumers

  4. Information: presentation of simple, direct information. We use our senses to obtain information. Information

  5. Status: associates product use with those who are successful, and who enjoy and understand the “fine things in life.” Status

  6. Peer Approval: associates use of friendship/acceptance. Peer Approval

  7. Hero endorsement: associates the use of a product by a well-known person. Hero Endorsement

  8. Sex Appeal: associates the use of products with increased sexual appeal. Sex Appeal

  9. Entertainment: associates product with leisure, fun, and feelings of enjoyment. Entertainment

  10. Intelligence: associates product with smart people who cannot be fooled by gimmicks. Intelligence

  11. Independence: Associates the product with people who can think and act for themselves. Independence

  12. Fraud: When an advertiser or seller intentionally deceives consumers by telling lies or half-truths about a product or service. Term to know: Fraud

  13. Unethical: dishonest and unprofessional Misleading: gives a false impression about a product or service without lying directly. Fraud is….

  14. Health Fraud: Promises of overnight medical cures and treatments. Products developed after “years of research” and “proven to provide immediate, positive results. Video: http://www.youtube.com/watch?v=sEHLs_ZXRZI Examples of misleading advertising

  15. Credit Repair: Offers, for a fee, to fix a bad credit record easily and quickly. Commercial: http://www.youtube.com/watch?v=uacOg_588Lk Examples of misleading advertising

  16. “Get rich quick” schemes: offers an opportunity to earn a lot of money in a short amount of time with very little effort. Commercial: http://www.youtube.com/watch?v=vXE0eYmosBU Examples of misleading advertising

  17. Product misinterpretation: Use a name similar to nationally recognized brand. Merchandise offered at below market value for a limited time only. Vague descriptions of product. Commercial: http://www.youtube.com/watch?v=U1G4hSpyWKc Examples of misleading advertising

  18. Scare Tactics: Feeds or plays on consumers fears. Commercial: http://www.youtube.com/watch?v=syjM1dPriBA Examples of misleading advertising

  19. Infomercial: A program-length commercial. Infomercial: http://www.youtube.com/watch?v=pyK-3Em8__c Examples of misleading advertising

  20. Is the product claiming to be “superior?” • Do you only get the special price if you “call now?” • Does the infomercial make you feel good while you watch it? Protect yourself

  21. DO: Be careful if you want to order the item • Use a credit card: The Fair Credit Billing Act will offer you some protection if you have problems with the bill or quality of the product. • Order or pay by mail: Your purchase will be covered under the Mail or Telephone order Rule. Protect yourself

  22. DO NOT: Give your bank account number over the phone. Remember….. • No one should have your bank account information, except: • Utility bills • Auto payments • School loans, etc. Protect yourself

  23. Does the ad appeal to your emotions? Try to look beyond the appeal and vanity and find out what the ad is really trying to say. • What are the special features of the product? • Do you need those features? • Is the ad misleading? Does it make unreasonable claims about the product or service? Basic rules for evaluating advertisements

  24. Search for deception in the ad. • Be aware of ads that are misleading. • Read the fine print, or listen carefully. As you read or listen to an ad….

  25. Complete and turn-in. Quiz: Protecting yourself from fraud

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