Exam Flashcards
(122 cards)
1
Q
Word of Mouth
A
- main influence for 20-50% of all purchasing decisions and greatest for first time purchases/new products or when products are relatively expensive
- used to be one-to-one, but now mostly one-to-many
2
Q
high impact recommendation
A
e.g., a trusted friend
- up to 50 times more likely to trigger a purchase than is a low impact recommendation
3
Q
word of mouth vs. ads
A
WOM: focus on features
Ad: tries to build emotional connections and emphasise intangible brand qualities.
4
Q
viral ads - what gets shared?
A
- content that elicits an emotional reaction tends to be more widely shared
- stimulating positive emotions moreso than those eliciting negative emotions
- content that produces greater emotional arousal
- emotion like awe/wonder more likely to take off than content that makes people feel sad/angry
- anger-inducing content more likely to be shared than sadness-inducing content
5
Q
influencers (nano vs. mass)
A
- nano-influencers (~1000 followers) have higher engagement than mass influencers (>100,000 followers) on platforms like Instagram (not the case on TikTok and YouTube)
6
Q
engagement definition
A
share, like, or comment
- TikTok has a dwell time which drives the algorithm, even if not engaged with
7
Q
do people trust influencer marketing?
A
- 70% of teens trust influencers more than traditional celebrities
- 86% of women use social media for purchasing advice and over half make purchases due to influencer posts
8
Q
reviews - as component of WOM
A
- most consumers at least “sometimes” read reviews, and agree reviews are an essential resource for purchase decisions
- most popular places for shoppers to read reviews: Amazon, retailer websites, brand websites, and search engines
- over half of shoppers seek out 1 star reviews
9
Q
how good are people at detecting fake reviews?
A
- OK at detecting fakes in positive reviews, but terrible at detecting fakes in negative reviews
10
Q
STEPPS (stands for?) - Jonah Berger
A
S - social currency
T - triggers
E - emotion
P - public
P - practical value
S - stories
11
Q
Social Currency
A
- people care about how they look to others
- want to seem smart, cool, in-the-know.
- find the inner-remarkability and make people feel like insiders
inner-remarkability (will it blend ads)
insiders (Please Don’t Tell - speakeasy) - people like a secret
12
Q
Triggers
A
- top-of-mind means tip-of-tongue.
- consider the context and grow your habitat so that people are frequently triggered to think about your product or ideas
- link products e.g., milk and cookies for example.
13
Q
Emotion
A
- when we care, we share
- emotional content often goes viral
- focus on feelings rather than function. high arousal emotions
14
Q
Public
A
- the more public something is, the more likely people will imitate it
- design products and initiatives that advertise themselves (e.g., Red bottom shoes) and create some visible behavioural residue e.g. Movember
15
Q
Practical Value
A
- news you can use
- useful things get shared. highlight incredible value and package knowledge and expertise so that people can easily pass it on.
16
Q
Stories
A
- information travels under what seems like the idle chatter. stories are vessels
- a narrative or story that people want to tell (Jared from Subway) which carries your idea along for the ride
17
Q
Benefits of the Jester archetype in advertising
A
- can inject some laughter and positivity into the world
- humour can grab attention and give brands an “in” to deliver message
18
Q
Risks of the Jester archetype in advertising
A
- risk of going too far - sometimes boundaries can be pushed and people can be offended
- risk of not going far enough - ads are just “meh”
- people have very different definitions of what is funny
- sometimes message can get lost in the humour (even when humour level right)
19
Q
humour checklist (Warren and McGraw)
A
- is the humour attempt funny? (does humour rely on previous knowledge)
- is the underlying violation too threatening?
- does the humorous violation prompt avoidance (e.g., disgust, embarrassment - people may distance from brand as result)?
- who are the consumers and what is the context for the humour attempt?
- does the message actually get through?
20
Q
humour in behaviour change ads
A
- can lessen the perceived importance of the issue and can lessen likelihood of action
- advertising research can sometimes measure how much people “like” the ad instead of intended behaviour change
21
Q
awards vs. effectiveness
A
- focus must be on changing behaviour, not winning awards
e.g., Dumb Ways To Die Metro Trains Victoria campaign - reported selective stats - actually increase in level crossing near misses
- therefore, not effective
22
Q
humorous appeals
A
humour is a psychological state characterised by a positive emotion of amusement, an appraisal that something is funny, and a tendency to laugh.
Being humorous garners attention, increases ad liking, and enhances recall
drives sharing behaviour
23
Q
how does humour inhibit problem solving
A
humorous content unrelated to a brand’s central message can be distracting and inhibit comprehension, and failed humour attempts can hurt evaluations of the brand
makes negative situations less distressing
24
Q
results from McGraw et al. 2015 study
A
respondents who viewed humorous PSA’s judged the depicted issue as less important to solve than respondents who viewed a non-humorous PSA
also revealed lower interest than viewers of non-humorous PSA
- humour inhibits problem recognition and problem solving
25
benign violations in humour perception
- humour results from consumers simultaneously holding two specific appraisals - there is a violation, and the violation is benign
26
violation severity in ads
violation severity is the degree to which a violation threatens one's wellbeing, identity, or normative belief structure
provided they seem benign, both mild and severe violations can evoke perceived humour
trend moving towards using attention-getting ads that feature relatively severe violations involving violence and aggression - may have less favourable effect on brand attitudes.
27
exclusive and inclusive violations in ads
exclusive violation: to specific person or group
inclusive violation: threaten universal norms/people in general.
- inclusive violation improved brand attitudes, and exclusive violations did not.
28
checklist for humour appeals - Warren & McGraw - is the humour attempt funny?
- ads need to portray something that threatens target audiences wellbeing, identity, or normative belief structure in a benign way
- requires deep understanding of desires, cultural beliefs, and identity
- rigorous market testing
29
checklist for humour appeals - Warren & McGraw - is the underlying violation too threatening?
- brands benefit by using less threatening benign violations
30
checklist for humour appeals - Warren & McGraw - does the humorous violation exclusively threaten a particular person/group
- inclusive violations are a safer way to create humour
31
checklist for humour appeals - Warren & McGraw - will the humorous violation prompt avoidance?
- logic violations less risky than purity violations - as these prompt avoidance
32
checklist for humour appeals - Warren & McGraw - who are the consumers and what is the context for the humour appeal?
- contextual factors
- attempting humour has a more positive effect on brand attitudes when target consumers are less involved with the message, have lower need for cognition, and a more favourable prior attitude towards the brand.
33
tight cultures
many strong social norms and low tolerance of deviant behaviour
e.g., autocratic governments that suppress dissent, restricted media, less access to communication technologies, higher monitoring and harsher penalties from law enforcement, often more religious, boycotts/protests less common, restricted range of appropriate behaviours
e.g., Pakistan, Malaysia, India, Singapore
34
loose cultures
weak social norms and high tolerance of deviant behaviour
e.g., Ukraine, Netherlands, Brazil, Australia
35
propositional claims of medical advertising (DTCA)
- the actual message
- heavily regulated, must detail potential side effects
36
nonpropositional claims of medical advertising (DTCA)
not heavily regulated, but are influential:
- framing: re-framing product can dramatically shift preferences in favour of it
- mere exposure: familiarity that comes with repeated viewing of a product also increases liking
- evaluative conditioning: pairing a novel product (e.g., new medicine) with stimuli that we already liked (e.g., attractive people, sunsets)
37
prescription drug advertising in Australia
- ads can run but can't mention medication by name
- push brand association without explicitly saying
- pharmaceutical company reps talk directly with GPs/specialists e.g., lunches, conferences in exotic locations
38
effect of DTCA
- when people mentioned specific drug ad, doctors took patients more seriously, and more likely to prescribe an antidepressant
- might cause patients to believe that drugs work better than they actually do
- might cause patients to want advertised drugs over any other, however effective
39
objectification
involves treating a person as an object, in the sense of a mere instrument for someone else's purposes, and consequently reducing this individual to the status of a mere instrument
- transform from being a somebody into a mere body
- no longer a person with feelings, desires, agency, instead they exist for someone else's purposes. used and consumed by others
40
7 ways to be objectified
1. instrumentality
2. denial of autonomy
3. inertness
4. fungibility
5. ownership
6. violability
7. denial of subjectivity
41
types of objectification - instrumentality
- treating an individual as a tool to be used
42
types of objectification - denial of autonomy
the individual is viewed as lacking in independence and self-direction
43
types of objectification - inertness
viewing an individual as lacking in agency and/or activity. they're simply viewed as passive or submissive
44
types of objectification - fungibility
- the notion that the individual is interchangeable or replaceable with others
45
types of objectification - ownership
individual treated as a commodity that can be bought or sold
46
types of objectification - violability
viewing an individual as permissible to harm and abuse
47
types of objectification - denial of subjectivity
viewing a person as lacking feelings and experiences
48
objectification theory (Fredrickson & Roberts 1997)
interpersonal sexual objectification + sexualised media depictions --> self-objectification
self-objectification --> poorer mental health + impaired cognitive states and performance
49
objectification theory - interpersonal sexual objectification
- catcalling, leering, ogling, unwanted sexual attention
50
objectification theory - sexual media depictions
- figures suggest we are exposed to somewhere between 300 - 500 ads per day
- objectification rife in these ads - often use of women has very little to do with the product being sold (it is not objectification if selling underwear/swimwear, but also depends on portrayal of ad too)
51
does sex sell? Bongiorno, Bain & Haslam (2013)
- Aussie men viewed PETA ads (sexualised vs non-sexualised ad)
- male participants exposed to sexualised ads demonstrated reduced support for PETA
- mediation analyses: women attributed fewer uniquely human attributes if sexualised
52
italian study on objectification
- italian men and women rated product attractiveness and purchase intentions after seeing sexualised vs neutral ads
- women had lower product attractiveness and lower purchase intentions in sexualised vs neutral ad (men no difference)
- men scoring higher on hostile sexism showed higher purchase intentions in sexualised vs neutral ad.
53
objectification theory - self-objectification
the more participants view their body as objects
- greater reported body shame
- higher tendency to monitor/restrict food intake
- higher tendency for depression
- poorer math performance
- poorer motor performance
54
Saguy et al study on women's interaction with men video call
- women who thought they were interacting with a male in body (video camera included body) or face (video camera focused from neck up) condition spent less time talking than participants in other groups (e.g., women w only audio; and male participants)
55
objectification theory - what about men?
- primarily affects women at age of reproductive potential
- men get objectified too - but more "power" retained
- women score higher in self-objectification than men
- negative consequences for women more pronounced
56
objectification theory - what about young girls?
- increasing evidence girls may experience objectification well before onset of puberty
- girls exposed to abundance of sexualised clothes, toys, other products that encourage sexualisation practices
- young girls scored similarly to adult women on self-objectification
57
hegemonic masculinity
- process for males to legitimise their superior position, diminish threats to male-dominant culture, and justify females' subordinate position.
58
advertising industry
- society - businesses populated by same members of the society on the receiving end of advertising containing gender stereotypes
- advertising content - gender stereotypes etc..
- advertising workplace culture - businesses subject to gender biases likely to commission and produce ads reflect biases
59
impact of advertising
- consistent agreement about the power of advertising, that better representation of all genders makes better ads, and the potential impact on body image and mental health
- less agreement about the potential contribution to violence against women (via objectification/gender stereotypes)
60
Han & Shavitt 1994 - persuasion and culture study
study 2
- for shared products, cultural differences emerged (with US preferring individualistic ads and Korea preferring collectivist ads)
- for personal products - both favoured individualistic appeals
61
evaluative conditioning
how positive attitudes can be induced in a manner similar to classical conditioning. pairing stimuli already liked (e.g., attractive person), with other stimuli for which individual holds a neutral attitude (e.g., brand/product). repeated pairing can result in the individual's liking for the image to eventually transfer to the product.
- operative in DTCA
- goal is persuasion
62
objections to not using evaluative conditioning
- might correct for unduly neg beliefs about advertised medicines: but need reliable belief-forming mechanisms
- neg content in DTCA diminished evaluative conditioning: e.g., side effects mentioned. yet, worry for autonomous choice persists
- evaluative conditioning is used in nonpharmaceutical advertising: yet these products likely pose less of a threat to autonomy
- physician as gatekeeper: yet people may request advertised drug, imperfect gatekeepers
- longevity of evaluative conditioning: relatively resistant to extinction
63
how to build resistance to evaluative conditioning
persuasion knowledge priming - arming viewers with knowledge of the conditioning technique: may be effective in resisting attitudinal change in the setting of a single unconditioned stimulus.
- yet, often multiple unconditioned stimuli are at play in typical ads, so may be ineffective
64
how to online advertisers know so much about us?
- first-party cookies - remember you on the internet
- third-party cookies - customise ads on Google/Facebook
- tracking - activity on the web - personalised ads
65
legal boundaries of targeted ads
- federal legislation governing collection, use, and disclosure of personal info
- regulation of sending commercial electronic messages (option to unsubscribe)
- regulation of interception and use of telecommunications (data collected via cookies etc)
- industry codes and guidelines
- cookies must be 'informed'
66
pros of targeted ads
- more relevant
- agreed to it by "accept all cookies"
67
cons of targeted ads
- ads will be intrusive
- using search history to serve ads violates privacy (even just perceptions of privacy)
- no one knows what they are agreeing to when they "accept all cookies"
68
factors contributing to whether targeted adds are ok
- presumed method (cookies, reading emails, listening to conversations)
- presumed intent (helpful vs. selling)
- presumed variables (search behaviour vs. mental health condition)
69
Planet Money podcast "How to Meddle In An Election" - David Goldstein experiment
- legally tries to do for the left what Cambridge Analytica (illegally - a 'personality quiz' app that was used to access their Facebook and their contacts and used for political advertising) did for the right
- in Alabama Senate election - 3 control districts, 3 test districts
- sent out ads to test districts, different ad depending on political orientation (democrats - ad to encourage voter turnout; republican - aim encouraged not to vote)
- results: democrats had higher voter turnout than control groups, mod. and conservative republican had lower voter turnout.
70
Facebook ad algorithms
- advertisers can choose who their ad targets, but FB can also use (highly secret) algorithm to display ads on certain users' feeds
- even with no targeting selected by advertisers, fb delivered ads via gender and racial stereotypes.
- FB algorithm making decision on targeting, not basing it on views, engagement or pre-set targeting
71
quality of targeted ads
- targeted ads tend to be more expensive and lower quality versions of a produce - that if you did an organic search you would find a better produce that got served to you in a targeted ad.
72
addiction to screens - why?
- intermittent positive reinforcement: gamble everytime you post something - will it get liked/retweeted, intermittent rewards
- drive for social approval (likes/retweets, followers)
- Data from TikTok: based on dwell time (dwell time could predict new perfectly whether females had an eating disorder)
73
3 ways to manage creativity/innovation
- The Explorer: being the person who directs exploration, focuses on right questions to ask, not right solutions.
- The Gardener: nurture culture and nurture environment and circumstances - lay out the creative stage
- The Player Coach: people who had own experiences in innovation are able to provide for a team that might be younger, more naive
74
design thinking
- user-centric, solution-based approach to problem solving
- focus people you're creating for and their human needs
- what's desirable (for users), feasible (given resources), viable (part of sustainable business model)
75
wicked problems
- problems that are ill-defined or unknown and require outside-the-box iterative thinking
76
stages of design thinking (Stanford's 5 stage model)
1. empathise: talk to and observe users
2. define: bring together findings to define user's need/problem
3. ideate: generate as many ideas as you can for how to tackle problem
4. prototype: build real demos of your top solutions, see what works and what doesn't
5. test: return to users to see if solution meets their needs and addresses problem
(6. implement)
- iterative and flexible stages
77
ideation stage (diverge and converge)
- explore all possible solutions - total creative freedom
- investigate these ideas and converge on the best ones to move forward with
- in divergent stage - only consider desirability
- convergent - bring in feasibility and viability
78
tips for effective brainstorming
- judgement-free
- quantity
- out-of-the-box ideas
- build on each other's ideas
- one convo at a time
- go for IRL (whiteboard) over digital
- be visual
- set time limit
79
ideation methods - magic circle
- write down all constraints in solving problem on sheet of paper
- physically set it aside
- brainstorm outrageous ideas
- come back to list of constraints and use it to eliminate ideas or refine them
80
ideation methods - worst possible idea
- come up with as many bad solutions as you can (impractical, mismatched, illegal solutions)
- list of attributes of the bad ideas, figuring out what makes them bad
- turn these bad ideas into good ones - look for the opposite of those attributes, or for aspects that might inspire a good idea. try mixing and matching different bad ideas.
81
Planet Money "Advertising and Race" podcast key takeaways
- ''black people are not dark skinned white people" - Tom Burnell
- Black Marlboro man requires different setting to white Marlboro man
- way African Americans interacted w McDonalds different to white people (place working people/children went)
- Tom Burnell encourages black community as viable consumers
- market segmentation - dividing market into smaller groups to increase sales
82
Ad research process
1. insight development
2. concept direction
3. concept evaluation
AD MADE
4. off-line edit
ON AIR
5. tracking
83
insight development stage of ad research
- attitudes
- beliefs
- behaviours
- issues of concern
- e.g., motorcycle riders think denim is as good as leather - this is dangerous
84
concept direction stage of ad research
- personal relevance
- importance
- e.g., are motorcycle riders keen to learn about saving their skin
85
concept evaluation - ad research
- personal relevance
- call to action
- impact
- e.g., an idea - show a guy getting his led scraped after an accident - are you interested
- most common practice is just focus on this point prior to ad being made (not great)
86
off-line edit - ad research
- sanity check - any obvious errors
- e.g., final ad - does it look realistic, is everyone saying the right things?
87
tracking - ad research
- recall, recognition, message take-out, impact
- e.g., do you recall seeing any motorcycle related ads recently? did it get you to do anything differently?
88
primary goals of concept evaluation
- does it engage? (that's me, i feel like that, want to watch that)
- what is the message? (to do/thing/like/buy something)
- impact/reaction? (information, emotion, shock, laughter, action)
89
what are focus groups?
- gatherings of about 8 people specifically recruited to discuss an issue
- 60-90 mins
- commonly used in market research industry and specifically for ad research
- worthwhile when used for exploratory purposes, often incorrectly used for evaluative purposes
90
constraints of focus groups
- discussions evolve creative ideas and generate hypotheses, not intended to be a precise and definitive index of what happens in marketplace
- results should be interpreted with that constraint in mind
91
what to look for in focus groups
- non verbal reactions (body language, body positioning, recoils, engaged)
- "I" words (personal impact statements)
- "action" words ("doing" words; talk about attitudes and behaviours)
- apathetic (body language; third person/uninvolved language)
- don't stifle their feedback (keep them on track, but don't shut down feedback)
92
benefits of focus groups
- can get you immersed in a population/consumer group other ways may not
- hear how they talk about issues
- shows how they respond to ads/communications
- explore issues, language etc.
93
cons of focus groups
- cannot give reliable/robust read on how group thinks/acts/behaves
- cannot be used as a generalisable research method for evaluative questions
- cannot avoid basic psychological biases of individuals/groups (group effects - social desirability/peer pressure/group-think; individual effects - confirmation bias, anchoring/adjustment, over-confidence)
- group seen as one, not individuals
94
how to write a good survey
- use simple words
- simple syntax
- avoid words w ambiguous meanings
- strive for wording that is specific and concrete
- make response options exhaustive and mutually exclusive
- avoid leading or loaded questions that push respondents towards an answer
- ask one thing at a time
- avoid single or double negations
95
what are surveys good for in ad research
NOT: "which one do you prefer?" - comparative mode leads to hyper-rational thinking
GOOD FOR
- background research to inform ad development
- reactions to ad concepts
- comparison of ad reactions/intentions via a split sample
96
Facebook/social media experiments
- can request A/B testing of ad placements
- measuring actual behaviour instead of stated behaviour OR good A/B testing of intended behaviour
- allows for control conditions and random assignment
- can tell you what ad is performing better with each ad group
97
A/B testing in survey design
- Group A sees Ad 1 - then answers feedback/perceptions/intentions
- Group B sees Ad 2 - " "
- measuring intentions BUT can compare the groups rather than showing everyone both ads and asking "which do you think is more effective?"
98
Is any publicity good publicity - Jonah Berger study
- negative book reviews in NY Times actually increased sales by around 40% for relatively unknown authors (decreased sales for well known authors by about 15%)
- for unknown authors, neg book reviews gave them exposure and awareness (over time awareness stuck and association with negative review faded)
99
negative publicity - Peloton
- Christmas ad widely mocked and criticised - Peloton shares dropped 15% - criticism of ad intensified
- Ryan Reynold's gin company responded with same actress
- Pandemic - sales went up.
- more about salience and distinctiveness over differentiation (publicity important, even if bad)
100
negative publicity - Corona
- bad research suggesting 16% Americans confused about whether Corona beer has anything to do with Coronavirus
- bad research as many participants confused about questions - leading questions, didn't account for consumption prior to pandemic
101
distinctiveness
your brand assets are recognised as your brand and not other brands e.g., Woolworths - green, fresh food...
102
differentiation
you try to position yourself as different to your competitors e.g., Coles - arty presentation
103
results of study comparing Woolworths and Coles ad
- distinctiveness seems to be more important in brand identification
104
Tide Case study
Tide-ify
- Superbowl ad - associate cleanliness with Tide (not anxiety around dirtiness)
- creates social currency in households
- creative execution important in gaining market share
shows danger to brand awareness if they just stick with inertia of advertising category. Tide changed the advertising formula for washing detergent and reaped the rewards.
105
3 fundamental considerations for attitude measurement
- the attitude object: specific people, groups, actions...
- attitude properties: simplify complexity, attitude strength, affect, cognition
- target population and measurement context
106
construct validity
ability to generalise from the specific operationalisations in studies to broader abstract concepts they are intended to represent.
107
internal validity
extent to which researchers can be confident of a cause-and-effect relationship. high internal validity = greater certainty of cause-and-effect
108
external and ecological validity
researchers' ability to generalise from the specific components of one particular experiment to other people, settings, treatments, and outcomes.
- in advertising research, many participants from western, democratic and industrialised countries, with high education, relatively rich
109
quasi-experimental designs
lack control/comparison groups or random assignments to groups (or both). threats to internal validity
- e.g., one-shot (treatment to single group + observation); one group pretest-posttest; static group (two different groups compared - may be systematic difference in group membership)
110
common issues with advertising experiments
- student samples (not representative)
- unknown/made-up brands (previous knowledge/attitudes do not impact - but not applicable to real world brands)
- majority rely on single exposure to ad (multiple exposures may be different than the initial exposure)
111
ad agency structure
- account manager
- creative director (+ copywriter, art director)
- strategy planner
- media planner
112
strategy
overarching plan or approach that will be used to achieve the advertising campaign objectives - long term approach/goals. e.g., differentiation, emotional appeal, positioning/niche approach. 'what' and 'why'
113
tactics
specific methods used to execute the strategy - short term approach/goals. 'how' e.g., using TikTok
114
demographics
quantifiable/statistical data about a population or group. e.g., age, gender, education level, income, marital status, location.
can be used in target market profiling/segmentation
115
psychographics
psychological/behavioural characteristics of a group e.g., personality, values, attitudes, lifestyle, motivations.
much harder to quantify and measure, but can help with the direction of the ad campaign.
used in segmentation analysis, but hard to put into action (easier now with social media though)
116
how are people happiest when spending money
- people think they would be more happy spending money on themselves, but people happiest just spending on other people (regardless of value)
117
how to maximise happiness when purchasing
1. buy experiences: also makes for great memories (therefore, can sell things not typically associated with "experience" - leverage happiness of experience in the ad)
2. make it a treat: more special/boosts happiness if done sometimes
3. buy time: outsource things like house/car cleaning, groceries delivered
4. buy now, consume later
5. give: spend on others, give to charity, help those who need.
118
how to sell Australia - the tourism funnel
awareness --> consideration --> intention --> desire
- need to boost intention from consideration.
- often need to play to specifics of target group e.g., US tourists (use celebrities they know, stereotypes...); UK tourists (other celebrities, focus on similarities e.g., cricket, beer)
119
Hidden Brain "Radio Replay: The Mind of the Village" podcast key takeaways
- individual mind sits in society
- some forms of prejudice so hidden people don't even know they hold them (identified via the Implicit Association Test) - people sort white with good and black with bad easier/quicker than the opposite.
- implicit biases predict more automatic processes
120
Freakonomics "Can Our Surroundings Make Us Smarter?" podcast key takeaways
- 7 key design parameters in pupils academic progress
- light, temp, air quality (naturalness important)
- stimulation - colour, complexity (Goldilocks level)
- individualisation - ownership (ability to customise classroom) and flexibility (opportunity for rearrangement)
- cognitive drift
121
The Happiness Lab "Demonic Possessions" podcast key takeaways
- sometimes pursuit of product brings more happiness than the product itself (caused by dopamine)
- culture has become obsessed with its possessions
- after initial buzz of buying wears off, can make us feel sadder than before (can make our other possessions feel worse)
- hedonic adaptation - we get used to stuff quicker than we think (new things)
- experiential purchases make us happy - money spent on doing (travel, dining out, sporting events) - seem fleeting which is a benefit (we cannot habituate to them)
- these experiential purchases also promote social interaction
122
Choiceology "How to Spend It" podcast key takeaways
- prioritising quality time over money and material wealth has more lasting positive effects than purchasing
