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Study guide for midterm 1

by: kaswimmer

Study guide for midterm 1 CDAE 127

Marketplace > University of Vermont > Business > CDAE 127 > Study guide for midterm 1
GPA 3.3
Consumer Policy
Sun Tao

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For exam 1
Consumer Policy
Sun Tao
Study Guide
marketing policy consumer advertising
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This 0 page Study Guide was uploaded by kaswimmer on Monday March 21, 2016. The Study Guide belongs to CDAE 127 at University of Vermont taught by Sun Tao in Spring 2016. Since its upload, it has received 47 views. For similar materials see Consumer Policy in Business at University of Vermont.


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Date Created: 03/21/16
Study Guide Questions for Test 1 httnsduizletcom38702721cdae127midterm1 hcardsl httpsduizletcom72217145cdae127exam1 ashcardsl 1 What are three internal and external in uences in our consumer behavior model Internal Perception learning memory motives personality emotions attitudes External culture subculture demographics social status reference groups family marketing activities 2 What are three types of reference in uence Informational In uence Normative In uence aka utilitarian in uence Identi cation In uence aka value expressive 3 What is conspicuous consumption The rich spent conspicuously as a kind of personal advertisement to secure a place in the social hierarchy Everyone below stood watching and to the extent possible emulating those one notch higher 4 What are the factors that have led to conspicuous consumption as we experience today Decline of neighborhood network Rise of work community Rise of media community 5 What is imagined community An imagined community is different from an actual community because it is not and for practical reasons cannot be based on everyday facetoface interaction between its members For example Anderson believes that a nation is a socially constructed community imagined by the people who perceive themselves as part of that group 6 What is upward pull strategy 125 PPT Middle class 391 Aspirations Prefer Positioning TD belbngto Products Upperclass uppermiddle r 39 cansumedaby 39 39 symbolismfor class uppermiddle middleclass class products V 7 What is lifestyle marketing People may no longer have wanted to be just like all others in their socioeconomic class but their need to measure up within some idealized group survived What emerged as the new standards of comparison however were groups that had no direct counterparts in previous times Marketers call them clustersgroups of people who share values orientations and most important lifestyles 8 9 What is Marquette Decision and its impacts It allowed bankers to charge higher interest rates on consumers The general ruling stated that only the usury ceiling of the state in which the bank is located and not that of the state in which the consumer is located will restrict the interest rate banks can charge The banks were then free to move their credit card operations to states where there were no or limited usury laws What is the difference between neoclassical perspective and Veblenian perspective Neoclassical economists believe individuals are solely responsible for their credit card debt Unlike the neoclassical economics Veblen described economic behavior as both socially and individually determined Through quotconspicuous consumptionquot often came quotconspicuous wastequot 10 What are the governmental policies that have arguably led to less saving among 11 12 Americans since WWII quotsocial security act of 1935 persuaded people to consume economist believed by relieving them of anxieties about saving so much for old The growing faith in the consumer driven economy resulted in policy after policy that encouraged Americans not simply to abandon habits of saving but to live beyond their meansquot What is the relationship between Keyneisianism and US saving policy In the ensuing Great Depression the most forceful proponents of mass consumption were progressives associated with Keyneisianism This was to be precise Keyneisianism spoken with an American accent Keynes advocated countercyclical policies focused on government spending American Keyneisians on the other hand approached savings and spending with exceptional optimism What is the difference between Japan and US in government tax policies related to consumer saving and spending The postwar US case later struck many as the mirror image of highsaving Japan where the tax code exempted earnings on most savings accounts while granting no breaks to borrowers The Japanese policy is opposite to ours The government gives tax breaks to savers but not borrowers Note that the Japanese savings rates is in decline because of the aging population people live longer and have to use their savings to live l3 14 What is vertical McDonaldization What is its effects The best example of this is in the meatpacking industry where the demands of the fastfood industry are responsible at least in part for the deunionization of much of the industry the hiring of lowpaid workers often illegal immigrants and the speeding up of the production line to reduce costs and increase pro ts the enormous success of McDonalds has caused other chains to adopt the business model that McDonalds follows2 in order to match demandsquot What is the key point of the book quotNo Logoquot Our society US has gone from an economy focused on production to one focused on branding 15 Her key point is that we primarily the United States have gone from an economy dominated by production to one that is dominated by branding Corporations have discovered that the key to success is the creation and dissemination of a brand and notthe manufacture of a product In Naomi Klein s view what is the solution to the problem of brand marketing The broadest implication clear in such a heading is that Klein thinks we should eliminate logos or at least stop buying products which sport logos 16 17 What is the difference between the standardization and adaptation approaches Young adults were the focus of much of PMS market research The ndings of converging lifestyles attitudes and values among young adults led to the development of standardized global marketing campaigns Adaption An opposing strategy is to develop adapted promotions where companies develop ads and promotional strategies to meet conditions particular to local markets using demographics What was the approach used by Phillip Morris And how was it used Standardized Approach by PM This convergence of values and lifestyles led to the development of standardized promotions plans for Marlboro the development of a single global brand identity for Marlboro a single worldwide creative brief and a central advertising pool that allowed regional variations in individual executions Philip Morris39s research highlights the trend of increasingly quotwesternquot values among young adults in Asia in a series of studies conducted on young adult males in Japanquot 18 19 20 21 What are the four dimensions of Schwartz value system i Openness to change ii Selftranscendence iii Conservation iv Selfenhancement Explain why the male loser type can nd resonance with or speak to the target consumers in alcohol ads It is because they speak to basic insecurities that are grounded in a combination of historic shifts What is intertextuality Omnipresent advertising images in recent years have continued to obliterate the already blurry distinction between advertising texts and other media texts What leads to the problem recognition for consumers A segment Of a larger culture whose member39s share distinguishing values and patterns of behavior 22 23 24 25 26 What is semiotics How was it used to analyze beer commercials the symbiotic relationship between beer sports and hegemonic masculinity has reached such heights that Lawrence A Wenner and Steven Jackson 2009 described it as quota holy trinityquot According to the reading how were men depicted differently in beer commercials before and after 2010 slide 12 on 210 The loser instead of appearing endearing or laughable is illustrated as a delusional dope pitiful stupid and downright disgusting No longer lovable despite his flaws the male loser becomes in 2010 a frighteningly pathetic victim of collective delusions What is the purpose of segmentation Semiotics approaches focus on understanding signs which are in most simple terms objects or images imbued with social meaning Semiotic analysis allows us to pay attention to the ways in which layers of meaning become mapped and remapped onto the mundane and as such we see ourselves as archeologists of meaning peeling back the layers of signs What is Semiotics Signifier Expressive elements Color Words Images Tactile Scent Signi ed Rcfcrcnt meaning enoted object or idea Communicative codes Cultural symbols Ideologies chSaussure Grounded in a Cultural System A sign ennsisls or the Signi er the material abject and the Signi ed which is its meaning Ej 39ll htse are nnly divided l39nrr analytical purpmsm in pramlit e a sign is a ways thingsplusumnaning Williamson 1975 P l a C t I C a How was the message RJR conveyed in its Winston campaigns different from that in its Camel campaign This information was translated into targeted marketing campaigns for the Winston and Camel brands Marketing targeted toward Hispanics appealed to values and sponsored activities that could be perceived as legitimating How did RJR and PM collect information for their direct marketing databases Direct mail marketing utilising industry databases began in the 19705 and grew from the need for a promotional strategy to deal with declining smoking rates growing numbers of products and a cluttered media landscape Both RJ Reynolds and Philip Morris started with existing commercial consumer mailing lists but subsequently decided to build their own databases of smokers names addresses brand preferences purchase patterns interests and activities 27 What are the factors driving direct mail development and growth for RJR and PM was limitations on other advertising and promotion One of the earliest 1980 documents promoting direct mail at RJR noted that it was a private means of communicating which unlike print media had low visibility allowing for 39aggressive promotion opportunities without fear of PRlegislativeretailer whiplash 1 What is the FCC rule on regulating commercial time targeted at children The amount of time allocated to advertisements in children39s programs is regulated by the Federal Communications Commission FCC The implementation of the Children39s Television Act CTA by the FCC now limits advertisements on children39s commercial television stations to 105 minutes an hour on weekends and 12 minutes an hour on weekdays though these limits are frequently violated 2 What is Piaget s theory of cognitive development 3 What is Quebec study Research shows that families in Quebec where advertising to children under age 13 is banned purchase fast food less often than do similar families in Ontario where there is no such ban and that Frenchspeaking families purchase less children s cereal than do Englishspeaking families who watch television programming originated primarily outside of Quebec 4 What is hedonic hunger 31 What is hegemony in mediated communication Examples Hegemony in mediated communication is a process by which one set of meanings is produced regularly and is accepted as credible to the point that it is taken for granted Lewis 1997 Example In order to maintain pro t the wedding industry perpetuates the values beliefs and practices that generate those pro ts a continuing system of patriarchal and consumerist values and beliefs Lewis 1997 32 What is faceism index and how to measure it Facial prominence was measured by the faceism index which is the ratio between two variables a the numerator is the distance from the top of the head to the lower point of the chin and b the denominator is the distance between the top of the head and the lowest part of the body that is depicted What were the major ndings from the reading The rst four studies provide evidence of lower facial prominence in depictions of Blacks than in depictions of Whites Support for this effect was found in American periodicals American paintings and American stamps American paintings and stamps yielded the effect only for portrayals by White artists An investigation of European periodicals showed that the race difference in faceism is not purely an American phenomenon Four European publications depicted Blacks with lower facial prominence than Whites Furthermore the phenomenon is not limited to two races American paintings depicted American Indians with lower facial prominence than both Whites and Blacks Nevertheless faceism of women was signi cantly lower than faceism of men even when differences in status were held constant 33 What is the difference between DTC ads and traditional ads DTC ads differ from traditional ads because they contain two parts an FDA required portion containing risk information and a promotional portion containing the persuasive message 34 What is the 1997 FDA deregulation on DTC ads and what is its effect It allowed pharma companies to essentially recreate a pill they already marketed and relabel it to make it more desirable 35 What are the three categories of claims used on food and dietary supplement labels Nutrient content claims structurefunction claims health claims 36 What is qualified health claim Explain the three avenues to escape space time and subject Space gt The attractions of mobility then become so much more than simple movement through space rather they have grown to encompass the interconnected possibilities of leaving this space and its attendant laws and restrictions behind altogether or at the very least transforming it into something completely different Time gt Indeed the fact that slow motion appears with far greater frequency than fast in these ads serves as an index to the much greater resonance of a dreamlike escape from conventional temporally as compared to representations of speed slowing things down has become in many respects far more appealing than speeding them up Subject gt The desire to escape from one39s identity as a laboring subject is signaled in an ad for Ford Escape in which some of the letters spelling various job descriptions are removed to form leisure pursuits Explain the three avenues of utopian nature childhood and body ature gt Spirited away from its everyday environment the car39s mobility is recon gured as opening passageways into epic landscapes that are almost completely alien to those in which we live Nature becomes the perfect signi er for an otherness that only the automobile can activate Childhood gt In terms of depicting an escape into the past few images are as powerful as those of children or more speci cally stylized depictions of childhood In the rst place childhood is often idealized as a period without the temporal pressures and constraints that dominate adult life Children play rather than work their thought and activity is therefore ostensibly freer and more selfdirected Body gt At one level this dynamic draws on the fantasy that has always accompanied the use of machines that technology can magnify and accentuate human capacities and powers


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