Terms of Social Media Influences

These flashcards include key terms and definitions related to consumer economics and marketing techniques discussed in the lecture.

Aspirational buying

When consumers are encouraged to live like those they admire, even if they can’t afford it.

Bandwagon appeal

The psychological nudge to do—or consume—something because others are doing it, also known as FOMO (fear of missing out).

Bundling

The practice of offering multiple, usually related, goods and services at a lower price than if purchased separately.

Dog whistle

An indirect or implied message meant to communicate with a particular group while appearing general.

Eye candy

Visual images that are superficially attractive but unrelated to the subject at hand.

False statistics

Graphs or statistics that sound precise but are often misleading or suspect.

Feedback loop

A phenomenon where media reporting on a trend inspires consumers to follow that same trend.

Flattery

A sales technique using compliments to induce consumers to feel good about a product.

Freemium

Offering a base-level product for free while providing paid upgrades and enhancements.

Hasty generalization

Drawing a conclusion from insufficient evidence, often an overgeneralization of a group's characteristics.

Hedging

Subtly limiting or equivocating a claim to reduce guarantees made in the claim.

Hyperbole

Exaggerated claims used in promotion that may not reflect factual statements.

Juxtaposition

Placing items side by side to invite comparison and encourage consumer decisions.

Nostalgia

Invoking simpler times to create a desire for a product, regardless of the actual memories.

Panache

Having a stylish manner often indicating superior socio-economic status.

Poisoning the well

Introducing negative facts or perceptions that disadvantage the opposing side immediately.

Plain folks

Using relatable spokespersons to represent a product, often being compensated.

Stacking

Skewing experiments or data presentation to promote a product or service effectively.

Testimonial

Using endorsements from individuals, often falsely portrayed as experts, to advocate a product.

Truthiness

Appealing to intuition or gut feelings rather than actual data, highlighting confirmation bias.