Exam 7: Decision Making and the Influence of Advertising

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Explain why consumers might use Rules of Thumb rather than conducting an extensive information search.

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The ability to trade means trading one good for another.

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Ads like ʺKeep America Beautifulʺ and ʺFriends donʹt let friends drive drunkʺ are examples of

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The Pareto principle is also known as the

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End messages in advertising are called

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Advertising that exaggerates the characteristics of a product is called__________.

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PSAʹs are messages to correct previously false claims about a product.

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List the four qualities effective advertising has.

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When advertising is transmitted unconsciously to consumers it is called

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According to the FTC, if an ad contains misrepresentations or omissions, it is

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When the FTC notifies an advertiser that its ads are deceptive and asks the adviser to stop running the ads, this first level of enforcement is called

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Counter-advertising is also known as

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Corrective advertising corrects previously false claims about a product.

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What are the FTCʹs three classifications for types of advertisements. Define each. Where (what kind of medium)are you likely to find each advertised?

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For advertising to be effective, it needs to keep up with trends in ethnic and racial preferences.

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Public service announcements are messages on behalf of a good cause.

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An average child views about how many TV commercials every day?

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Define technological obsolescence and one example.

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Describe the difficulties associated with making good decisions.

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Program long advertisements on TV are called

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