Premium Essay

Framing Effects

In: Business and Management

Submitted By drich3
Words 383
Pages 2
MKT 444 Class Notes – Week 4:

* Ethical Issues In Marketing Research * Ethical questions are philosophical questions * Marketing ethics: the application of morals to behavior related to the exchange environment * See the marketing ethics statements in BlackBoard * Conceptually, marketing ethics are just regular ethics applied in a marketing context. * Moral standards: principles that reflect beliefs about what is proper behavior and what is improper. Morality varies among people. * Cultural/religions aspect * Ethics and morality are not the same thing but related * Ethical dilemma: a situation in which one must choose from alternative courses of actions, each with different ethical implications. * Moral Stances * Absolutism * There is only one valid moral standard (and the person know which one it is) * Relativism * Rejects absolute principles in favor of situation-based evaluations, but within boundaries * Acknowledges that other views my be valid * Moral Behavior * Reflects the degree to which one bases ones decisions on moral standards. * Example: the golden rule (there are two with different inferences for behavior) * General Rights and Obligations of Concerned Parties * Everyone involved in marketing research can face an ethical dilemma * The people actually performing the research – the “doers” * The research client, sponsor, or the management team requesting the research – the “users” * The research participants * Society at large * Active Research * Auto-dialing of cell phones is illegal * Passive Research * Generally, researchers do not view unobtrusive observation of public behavior in places such as stores,...

Similar Documents

Premium Essay

Does Message Framing Matter?

...Does Message Framing Matter? Wednesday, October 17, 2012 The research study that I participated in, Does Message Framing Matter, was conducted to determine the effect of message framing on an individuals perception and response to the structure/communication of specific messages. I believe the researcher was trying to determine the overall influence of specific arrangement and communication of instructions had on each individual and how this arrangement would affect their decisions. Message framing can significantly influence the behaviours and ultimately the decisions of consumers. Understanding how consumers are influenced, both positively and negatively, can lead organizations and individuals to more effective communication. During the study the researcher informed the participants that we were to think of two specific events that made us feel “happy”. Then we were asked to chose one of these two events and write a short description of the event on the paper provided. At first everyone seemed quite confused as to why we were being asked to do this, but at the conclusion of the study it became clear to me. I believe the researcher wanted to determine how each individual would define a “happy” event, and to observe the effect of the communication of instructions had on each study participant. Next we were asked to review a document with a brief history and instructions for safety guidelines at an amusement park. It was explicitly stated that we were to review this......

Words: 389 - Pages: 2

Free Essay

Behavioural Finance Book Review

...BEHAVIORAL FIANCNE AND WEALTH MANAGEMENT AUTHOR : MICHAEL M. POMPiaN BEHAVIORAL FIANCNE AND WEALTH MANAGEMENT AUTHOR : MICHAEL M. POMPiaN BOOK REVIEW OF : BOOK REVIEW OF : PREPARED BY :  ASHISH SHARMA PREPARED BY :  ASHISH SHARMA 2014 2014 Behavioral Finance and Wealth Management Author Information “Michael M. Pompian, CFA, CFP, is a partner at Mercer Investment Consulting, a firm serving institutional and private wealth clients. Prior to joining Mercer, he was a wealth management advisor with Merrill Lynch and PNC Private Bank, and served on the investment staff of a family office. Pompian is a Chartered Financial Analyst (CFA), a Certified Financial Planner (CFP), and a Certified Trust Financial Advisor (CTFA). He is also a member of the CFA Institute (formerly AIMR) and the New York Society of Security Analysts (NYSSA). He holds a BS in management from the University of New Hampshire and an MBA in finance from Tulane University. Pompian is a regular speaker on the subject of behavioral finance and has published several articles on the subject. He is married with three sons and can be reached at “ Michael M. Pompian describes various biases which we can see in human beings , also tells about various experiments on human beings in his book “ BEHAVIOURAL FINANCE AND WEALTH MANAGEMENT “ and tells “HOW TO BUILD OPTIMAL PORTFOLIOS THAT ACCOUNTS FOR INVESTOR BIASES “ The book is......

Words: 4842 - Pages: 20

Free Essay

Impact of a Sponsorship Activity on the Brand Perceptions Within an International Context: the America’s Cup and Louis Vuitton Case.

...Chemin de Bellevue - BP 80439 - 74944 Annecy-le-Vieux Cedex - France Francesco Casarin, University Ca’ Foscari of Venezia Paola Cerchiello, University of Pavia Gunnar Mau, University of Göttingen Carmen Rodrigues Santos, University of Leon Astrid Siebels, University of Hannover All members of the “International Network on Consumer Behaviour Studies” Impact of a sponsorship activity on the brand perceptions within an international context: the America’s Cup and Louis Vuitton case. Abstract On the basis of an extended review of literature dedicated to experimental studies of sponsorship effects on brand perceptions, this paper introduces a detailed framework of sponsorship persuasion process. Considering the central “transfer” between event and brand perceptions, the model also includes moderating effects (such as congruence) and focuses on specific components of functional, affective and symbolic customer value. In Spring 2007, a Web survey was conducted to evaluate the impact of Louis Vuitton’s sponsorship of America’s Cup. A total sample of 1,400 European respondents was developed thanks to the collaboration of eight Universities in France, Germany, Italy and Spain, working together within the “International Network on Consumer Behaviour Studies”. The model and hypotheses were tested with P.L.S. regression and textual data analysis. Very interesting results come out, demonstrating the importance of affective and symbolic......

Words: 9305 - Pages: 38

Free Essay

For Power

...especially powerful during times of war, when the nation’s passions are running high and the lives of our country’s young men and women are on the line. The justification to invade Iraq was based on flimsy intelligence provided by the Bush administration. Leading up to the invasion, news reporters working with this same flimsy information, presented the American people with the Bush administrations justifications for war. In this paper I will show how the way in which an argument is framed can sway public opinion. My topic will specifically examine how the justification for the Iraq war was framed by the Bush administration. In order to do so, I will explain how a majority of American people get their news. I will also cite examples where the framing was so effective that people would have trouble coming to terms with the fact that they were misled, even after being presented with factual evidence. Before we get into the specific questions about the war, we need to cover how and why we get information from the media. So how do Americans get their news information? According to a recent Gallup poll by Lydia Saad, 55% of American’s obtain their news from television news networks. The next closest challenger is the internet at 21%. Not even .5% of people claimed to obtain their news independently (Saad 2013). Why do American’s rely on the news media for their news? The answer is simple; most individual people cannot independently gather and verify news on...

Words: 1735 - Pages: 7

Free Essay

Reasearch Methods

...proposal I will show how: food advertisers exploit children in ways in which negatively effects their eating habits. I choose to do this topic because according to Centers for Disease Control and Prevention, obesity now affects 17% of all children and adolescents in the United States - triple the rate from just one generation ago. I feel like a big part of that 17% is influenced by food advertisers. When dealing with advertising one isn’t worried about how their advertisements may affect others, they are only worried about the best way to get the best profit and if exploiting children will help get them that profit, they are ok with that. I say food advertisers exploit children because the word exploit means, to make productive use of or to make use of meanly or unfairly for one's own advantage, according to the Merriam-Webster dictionary. Food advertisers unfairly make productive use to their own advantage. The theories I plan to use are framing and priming. Framing is related to the agenda-setting theory but expands the research by focusing on the core of the issues at hand rather than on a particular topic. The origin of framing theory is that the media pays attention to certain events and then places them within a field of meaning. Framing is an important topic because it can have a big influence on the audience it reaches. According to The Art of Framing Fairhurst & Sarr (1996) “framing consists of three elements: language, thought and forethought. Language helps us......

Words: 609 - Pages: 3

Premium Essay

Behavior Corporate Finance

...CORPORATE FINANCE HONOURS 2011-2012 Topic: Behavioural corporate finance Lecturer: Yue (Lucy) Liu E-mail: Outline Psychological phenomena Biases Heuristics Framing effects Impact on corporate finance Valuation Capital Budgeting Capital structure Dividend policy Mergers and acquisitions Yue (Lucy) Liu 2011/2012 Corporate Finance 2 Psychological phenomena Bias Excessive optimism Overconfidence Confirmation bias Illusion of control Heuristics Representativeness Availability Anchoring and adjustment Affect Heuristic Framing effects Loss aversion Aversion to a sure loss Yue (Lucy) Liu 2011/2012 Corporate Finance 3 Biases Bias A predisposition toward error. – Excessive optimism People overestimate how frequently they will experience favorable outcomes and underestimate how frequently they will experience unfavorable outcomes. – Overconfidence People make mistakes more frequently than they believe and view themselves as better than average. – Confirmation bias People attach too much importance to information that supports their views relative to information that runs counter to their views. – Illusion of control People overestimate the extent to which they can control events. Yue (Lucy) Liu 2011/2012 Corporate Finance 4 Heuristics Heuristic A rule of thumb used to make a decision. – Representativeness People make judgments based on stereotypic thinking, asking how......

Words: 875 - Pages: 4

Free Essay

Parker Gibson Negotiation

...the advice of Wheeler (pg 145-146), I wanted this negotiation to be friendly and easy to both sides. I wanted to create an atmosphere where Mr. Parker and I were working on the same side towards a common goal: the transfer of ownership of the parcel of land. If we were both comfortable and agreeable with each other, he would be more receptive to the offers I made. In order to achieve this, I used words such as “we/us” and compared Parker’s other offer to an opposing team. Fortunately, Mr. Parker responded to my openness with friendliness of his own. The entire negotiation stayed on this positive note and Mr. Parker conceded at very fast rates going from $50K to $30K to $25K whereas I increased gradually from $15K to $20K to $25K. The effects of anchoring and resisting I was scared of making the first offer, and rightly so. After the class discussion, it was obvious there was a slight correlation between the initial offer and the final negotiated price. The extreme final prices came mostly from prices that started too high or too low. Mr. Parker initially wrote $60K on a piece of paper, crossed that number out, and then verbally made the first offer of $50K. Even knowing Kahnman’s theory of anchoring (pg 126-127), my gut instinct was to say something within the $25K-$30K range just to match Mr. Parker’s offer, especially after his physiological ploy of “lowering his price” without any insistence from me. I felt that $50k was almost reasonable even...

Words: 738 - Pages: 3

Premium Essay

Critical Thinking-Simulation

...Thinking Critically Simulation Review Names Mgt/350 Due Date Professor Problem Formulation and Identification When making decisions toward a problem, a manager is responsible for coming up with a solution or solutions to solve the problem. There may be the same situation that may occur in but not every individual will choose the same solution to solve the problem. Based on the Thinking Critically Simulation an individual is to assume a role of a manager and find ways to come up with solutions to solve the problem. The four people on Team X took the simulation will result in four different ways of using the tools and techniques to solve the problems. For Team X to complete the simulation members had to record their information on three documents that would help them come up with a valid solution to solve the problems that was mention in the simulation. Allowing each individual to discuss what she thought of the simulation, discusses how the tools and techniques used and how changing an individual’s way of thinking will prove that not everyone think alike and that there is not right solution. The simulation is designed to test Team X’s problem formulation and decision implementation skills. Terria’s impression of the simulation was that it allowed an individual to see what problems managers have when trying to manage a business and how they will come up with a decision. She believed that this allowed the individual to be......

Words: 1504 - Pages: 7

Premium Essay

Another Form of Narrative

...Secret in Their Eyes (2009), directed by Juan José Campanella. Without a good mise-en- scène, it would be more difficult for the film to narrate the story and highlight the theme; this is because mise-en- scène plays an important role in the development of narrative, upgrading of dramatic effects, and the presentation of theme. By unfolding the contents of narration, the setting, one of the components of mise-en- scène, helps the viewers’ understanding of the narrative. The old-school objects and items, such as the characters’ costumes, the vehicles, and the black-and-white photos, in The Secret in Their Eyes, told the audience that the story was taking place in an earlier time. According to David Bordwell, a famous film theorist, and his wife Kristin Thompson, the combination of setting and costumes would “reinforce narrative and thematic patterns”. One of the important settings in the movie was the soccer stadium, where Benjamin and Pablo captured Gomez. The size of the crowd and the stadium allowed Campanella to show the viewers how challenging it was to spot and capture Gomez. In addition, the loudness of the noise at the stadium was effective for intensifying the dramatic effect during the chase scene, or in this case, the climax. Lighting is also crucial in this particular film simply because it affects the clarity of each shot; it controls how things are shown to the audience. Bordwell and Thompson assert that not only does lighting allow the viewers to see......

Words: 928 - Pages: 4

Premium Essay

School Shootings The multimedia franchise is marketed mainly to youths aged 9-18 years old, and is under public scrutiny because of its violent content, thus further exemplify the ability of media violence to attract attention for both economical and social capital (Clavijo-Kish, 2013). As aforementioned, the Columbine High School massacre has also managed to acquire that same degree of, if not more, attention and have become a genre of media events. Oxford Dictionary defined media event as a ‘staged event to draw publicity’ (Oxford DIctionary, n.d.). Although school shooting is not fictionalised nor staged, school shooting may be structured accordingly to fit it’s purposes whether for financial or socio-political gain. This process is called ‘media framing’, the manner in which media industries ‘actively process events that happened, through the use of selection, emphasis, exclusion and elaboration, to represent reality and current issues’ (Ruddock, 2013, p.104; Muschert, 2006, p.354)....

Words: 1392 - Pages: 6

Free Essay

Agenda Setting Theory Personal Application

...over hear a group of people talking about some eventful news that has taken place over the last couple weeks following the recent presidential election. The group seems to have strong views towards the particular subject so this draws you in to the conversation. After being briefed on what the topic of discussion is you also begin to voice your opinion on the subject because you also feel as if it is an important topic. You later find out that this was headline news in the newspaper and will continue coverage throughout the week on the particular story. This emphasized importance of the story can be explained by what is known as agenda-setting theory a theory created by Maxwell McCombs and Donald Shaw. Much of our media has had the same effect on our society. A particular story receives large amounts of coverage or is simply elaborated to a point where the importance of the story seems increased compared to others. This in turn shapes the public’s opinion and reflects what is presented by the news providing “not what to think…but what to think about”(Cohen 1963 as cited in M. Dainton and E. Zelley). This paper will give the basic overview; listing assumptions and concepts, of the theory along with recent additions. It will also provide personal and actual examples of where the theory has applied. Agenda-Setting theory, in its original state, contains two main assumptions and a concept that explain how exactly the media gatekeepers decides on what the important news is.......

Words: 1556 - Pages: 7

Premium Essay

War of Words

...Running Head: Linguistics and The War on Terrorism Constructing Reality Through Linguistics: The Political Implications of The War on Terrorism The catastrophic events that occurred on September 11th, 2001 had a multitude of immediate ill-effects, including the death of 2996 people, the loss of 105 billion dollars, as well as the launch of the War on Terrorism through the four coordinated suicide attacks targeting New York and Washington (Averill, 2001). Although not as obvious, the less tangible effects of 9/11 are apparent in our every day lives through instances of increased national security, Islamic phobias, as well as the decade-long War in Iraq, costing the United States over three trillion dollars thus far (Trotta, 2011). Language has played a critical role in creating these shifts within our culture and is the major tool in justifying actions, persuading citizens and constructing realities about terrorism and war. These linguistic tools, such as framing, recontextualization, and jargon work together to cloud the perception of these political issues. As Hasan (1996) states, “We not only use language to shape reality, but we use it also to defend that reality, against anyone whose alternative values might threaten ours.” Framing is a process used by news media outlets and their respective endorsers to manipulate and select the facts presented about a particular event. Specific tones are used, catchphrases are repeated, and headlines are used to highlight a......

Words: 1413 - Pages: 6

Premium Essay

Critical Thinking Applications Paper

... What is Critical Thinking? According to critical thinking is defined as “the mental process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information to reach an answer or conclusion” (2010). Critical thinking in the ideal form is based on broad intelligent values that surpass situational division. By this I am meaning to make use of good critical thinking, one must use accuracy, precision, consistency, relevance to the situation, good reasoning, facts, and clarifying the situation (National Council for Excellence in Critical Thinking, 2009). University of Phoenix has nine decision making- steps, divided into three categories. The first category, framing the problem includes the first three steps. Step one is to identify the problem. A person has to know what the problem is to fix it. Second step is to define criteria, goals, and objectives. To define the criteria, one must set up rules to evaluate and test the problem. Goals to be defined so that the person or...

Words: 905 - Pages: 4

Premium Essay

Critical Thinking and Decision-Making

...the critical thinking process, as it determines the effectiveness of the end result. This paper will discuss a career development issue using The University of Phoenix (UOP) decision-making model as a guide. This model is divided by three phases: (a) framing the problem, (b) making the decision, and (c) evaluating the decision. Critical Thinking “Critical thinking is that mode of thinking - about any subject, content, or problem - in which the thinker improves the quality of his or her thinking by skillfully taking charge of the structures inherent in thinking and imposing intellectual standards upon them” (Paul & Elder, 2001). To think critically, one must identify, analyze, dissect, evaluate, reconstruct information to make sound decisions and achieve the best results. In addition, decision-makers must also outline potential risks, losses and alternatives to improve the process or resolve any foreseeable issues. Lastly, they also test, implement and monitor the finalized decision. Often times, decision makers deem this phase as an insignificant factor of no consequence. However, this step determines the success of the entire critical thinking process. Framing the Problem According the UOP decision-making model, framing the problem is the first phase in the process. This phase consists of (a) identifying the problem, (b) defining criteria, goals and...

Words: 720 - Pages: 3

Free Essay


...Chapter 9 Behavioral Finance and Technical Analysis The effiecient market hypothesis makes two important predictions. First, it implies that security prices properly reflect whatever information is available to investors. Second, active traders will find it difficult to outperform passive strategies such as holding market indexes. A relatively new school of thought dubbed behavioral finance argues that sprawling literature on trading strategies has missed a larger and more important point by overlooking the first implication of efficient markets-the correctness of security prices. Behavioral finance are models that emphasize potential implications of psychological factors affecting investor behavior. Its premise is that conventional financial theory ignores how real people make decisions and that people make a difference. A growing number of economists have come to interpret the anomalies literature as consistent with several “irrationalities” that seem to characterize individuals making complicated decisions. 2 Broad Categories: 1. Investors do not always process information correctly and therefore infer incorrect probability distributions about furture rates of return. 2. Even given a probability distribution of returns, they often make inconsistent or systematically suboptimal decisions. Information Processing Errors in information processing can lead investors to misestimate the true probabilities of possible events or associated rates of return. Forecasting......

Words: 654 - Pages: 3