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4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
4.1 Deceptive advertising techniques
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4.1 Deceptive advertising techniques

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  • 1. Personal Finance
  • 2. • After today, you will be able to: – Identify some types of deceptive advertising techniques that are used on consumers, – List the signs of fraud – Take the proper steps to report instances of fraud to the authorities.
  • 3. • Advertising that is likely to mislead consumers through false statements, omitted information, or other unfair means. • It is ILLEGAL! • It can be stopped by the Federal Trade Commission (FTC). • What are some examples that you can think of right off hand?
  • 4. • Bait & Switch: – A sales tactic in which a bargain-priced item is used to attract (bait) customers who are then encouraged to purchase a more expensive similar item.
  • 5. • Bait & Switch – Example – “Come in today and get a 2010 Chevrolet Corvette for the low monthly payment of $250.” – When you arrive to buy, they “can’t find” the car in the advertisement, and steer you to a higher priced alternative.
  • 6. • False Promise of a Free Gift – If a store promises a “free gift,” it must actually be free, with no strings attached. – If you must purchase something to receive the gift, they must use phrasing like “Free gift with purchase.” – Example: • “If you attend our sales demonstration, you will receive a free vacation.”
  • 7. • Deceptive Pricing – Advertising a “sale” price that is actually no better than the product’s normal price – If a business claims that it has lower prices than it’s competitor, it must show proof. – Example: A store advertises a sale on toothpaste, when in reality, it is the normal price. – Why would they do this?
  • 8. • Hidden Catches – Extra fees – Hidden restrictions – Surcharges – If there are any requirements to get a certain price, then that must be clearly disclosed. • Example: An airline offers a “Bargain Spring Break Airfare” package. After booking your tickets, you find out that you must pay a fee for seat selection, baggage, etc.
  • 9. • The deceitful conduct designed to manipulate another person for some gain. – Lying – Repeating something that you know is false – Concealing a fact that might save the other party from being cheated
  • 10. • Pyramid Schemes – A person is asked to pay for the ability to sell a particular item. – Mass-Marketing is legal, but must have a valid product to sell. – The difference is that in a Pyramid Scheme, you focus more on recruiting than selling.
  • 11. $ $ $ $ $ $ $ $ $ $ $ $ $
  • 12.  Chain Letters  “Send $5 to the person who sent this letter to you and send the letter to 5 other people or something bad will happen.”  Sweepstakes  Earn Money at Home  Online Auctions  Someone asking for personal info through email or text.
  • 13. • No address, or a temporary address • High Pressure Sales Tactics • Asking you to pay up front • If it sounds too good to be true, it probably is… – There is no such thing as a free lunch!
  • 14. • If you suspect fraudulent behavior: – Report to the Federal Trade Commission – Contact the Better Business Bureau • www.bbb.com
  • 15. • After today, you will be able to: – Identify some types of deceptive advertising techniques that are used on consumers, – List the signs of fraud – Take the proper steps to report instances of fraud to the authorities.
  • 16. • Visit http://tinyurl.com/fraudresearch • Research one of the types of fraud • Complete 4.1 Fraud Project

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