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The Multi-Level Marketing Pandemic 多层次营销大流行
Pub Date : 2021-08-03 DOI: 10.2139/ssrn.3898823
Christopher G. Bradley, H. Oates
Among the many societal effects of the COVID-19 pandemic has been a sharp rise in the activities of multi-level marketing companies (MLMs). MLMs are business enterprises in which participants seek not only to sell products to friends, family, and social media contacts, but also to recruit them as MLM participants, with the promise of “building their own business from home.” False promises often pervade MLM sales pitches. Evidence shows that few participants see even a dollar of profit from their MLM work;the vast majority of recruits quickly abandon their MLM dreams and lose their investments. Yet the pitch has become all the more appealing in the course of the COVID-19 pandemic. Many people are desperate—unemployed and in need of immediate earnings and also in need of flexible, at-home work due to health concerns and family responsibilities. MLMs have been particularly appealing to the working mothers who, evidence shows, have borne the brunt of the impact of COVID-19 both on employment and on childcare and other household-related responsibilities.Regulators have long scrutinized and fought the worst abuses of MLMs. They have sought to find and shut down the unscrupulous MLMs that are in fact nothing more than fraudulent pyramid schemes, and also to curtail the misrepresentations and exaggerations that are all too often the stock-in-trade of participants in more legitimate MLMs. But regulators, including the Federal Trade Commission, face significant legal and practical limitations in their ability to promulgate and enforce MLM regulations. This Article examines how regulators have addressed MLM activity and proposes means of stemming the pandemic-driven expansion of unlawful MLM activities. It assesses efforts by regulators, by social media companies, and by self-regulatory organizations set up by MLMs themselves. Comprehensive, long-term success at curbing the abuses of MLMs will require more significant regulatory action that is currently permitted by law. But immediate steps outlined here can provide some much-needed relief for consumers harmed by the unlawful MLM activities that have been fostered by the COVID-19 pandemic.
2019冠状病毒病大流行的诸多社会影响之一是,多层次营销公司(MLMs)的活动急剧增加。传销是一种商业企业,参与者不仅寻求向朋友、家人和社交媒体联系人销售产品,而且还招募他们作为传销参与者,承诺“在家建立自己的业务”。虚假的承诺经常充斥在传销的推销中。有证据表明,很少有参与者从他们的传销工作中看到一美元的利润;绝大多数新兵很快放弃了他们的传销梦想,失去了他们的投资。然而,在2019冠状病毒病大流行期间,这种宣传变得更加有吸引力。许多人处于极度失业状态,需要立即获得收入,由于健康问题和家庭责任,也需要灵活的在家工作。传销对职业母亲特别有吸引力,有证据表明,她们在COVID-19对就业、儿童保育和其他家庭相关责任的影响中首当其冲。监管机构长期以来一直在审查和打击最严重的传销滥用行为。他们试图找到并关闭不道德的传销,这些传销实际上只不过是欺诈性的金字塔计划,同时也减少了更合法的传销参与者经常进行的虚假陈述和夸大。但包括联邦贸易委员会(Federal Trade Commission)在内的监管机构在颁布和执行传销法规方面,面临着重大的法律和实践限制。本文探讨了监管机构如何处理传销活动,并提出了阻止流行病驱动的非法传销活动扩大的方法。它评估了监管机构、社交媒体公司和传销自己设立的自我监管组织的努力。要想全面、长期地遏制传销滥用,就需要采取目前法律允许的更重大的监管行动。但这里概述的立即措施可以为受2019冠状病毒病大流行助长的非法传销活动伤害的消费者提供一些急需的救济。
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引用次数: 3
How Elon Musk's Twitter Activity Moves Cryptocurrency Markets 埃隆·马斯克的推特活动如何影响加密货币市场
Pub Date : 2021-02-03 DOI: 10.2139/ssrn.3778844
Lennart Ante
Elon Musk, the richest person in the world, is considered a technological visionary and has over 44.7 million Twitter followers. We analyze to what extent Musk’s Twitter activity affects short-term cryptocurrency returns and volume. Based on six recent cryptocurrency-related Twitter activities, we identify highly significant abnormal trading volume following each event. Furthermore, we discover significantly abnormal returns of up to 18.99% for Bitcoin and 17.31% for Dogecoin across different time frames. Nevertheless, not all tweets lead to significant abnormal returns. Our study shows the significant impact that social media activity of influential and well-known individuals can have on cryptocurrencies.
埃隆·马斯克是世界上最富有的人,他被认为是一位技术梦想家,在推特上拥有超过4470万粉丝。我们分析了马斯克的Twitter活动在多大程度上影响了短期加密货币的回报和交易量。根据最近六个与加密货币相关的Twitter活动,我们确定了每个事件之后高度显著的异常交易量。此外,我们发现在不同的时间框架内,比特币和狗狗币的异常回报率分别高达18.99%和17.31%。然而,并不是所有的推文都会带来显著的异常回报。我们的研究表明,有影响力和知名人士的社交媒体活动可能对加密货币产生重大影响。
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引用次数: 79
Revitalizing Cultural Characteristics in Advertising in Nigeria Within a Sketch of Systemic Paradigm 从系统范式看尼日利亚广告文化特色的复兴
Pub Date : 2020-09-21 DOI: 10.22395/angr.v19n37a2
T. Dalamu, G. Ogunlusi
This study investigated cultural pieces of advertising to indicate the ways that publicists deploy socio-cultural resources as normative channels of persuading readers to consumption. To achieve that goal, ten advertisements of financial, food, and telecommunications industries, harvested from The Punch newspaper, the Internet and erected advertising frameworks, functioned as data of analysis. After stratifying the advertisements into appropriate organizations, the terminology of ‘Below the clause’, functioned as the processing instrument. This allowed the application of graphic illustrations to account for the frequency of communicative components. The analysis revealed the employment of nominal groups (the lessons; this Eid) as playing dominant roles in the constructs, verbal groups (taste; celebrate) and prepositional phrases (from all of us at Fidelity Bank®; of commerce), also operated as stimulating structures. Although negligible, minor clause (Happy Workers’ Day; Eid Mubarak) are relevant grammatical elements of inducement. Besides anchorage and relaying functions interlocking the texts, one observed ambiguity (your work; Bae) in the Union Bank® and Wema Bank® advertisements. Connotations facilitated the communication of Mama don land and the big bottle of Coca-Cola®; the spirit of our nation and green-white-green dresses; your work and Maman Aisha; and the sacrifice of Christ with the crown of thorns. Contexts such as Yorùbá traditions, family affairs, religious nuances, savings, and historical notions are propagated cultural endowments that influenced the advertisements’ meaning potential. As a result, the analysts might suggest that advertisers ought to consistently decorate their campaigns with cultural fortunes. Such behavior has the capacity to educate and influence readers to consumption in their various regional domains.
本研究调查了广告的文化片段,以表明公关人员如何利用社会文化资源作为说服读者消费的规范渠道。为了实现这一目标,从The Punch报纸、互联网和竖立的广告框架中收集了10个金融、食品、电信行业的广告,作为分析数据。在将广告分类为适当的组织后,“条款以下”的术语起了处理工具的作用。这使得图形插图的应用能够解释交流成分的频率。分析揭示了名义群体的运用(经验教训;这个开斋节)在构念中起主导作用,语言群体(味觉;庆祝)和介词短语(来自我们富达银行®的所有人;商业),也作为刺激结构运作。虽然微不足道,次要条款(劳动节快乐;开斋节)是诱导的相关语法元素。除了锚定和传递功能,一个观察到的歧义(你的作品;Bae)在联合银行®和威马银行®广告。内涵促进了Mama don land与大瓶可口可乐®的沟通;我们民族的精神和绿-白-绿的连衣裙;你的工作和妈妈阿伊莎;基督的牺牲戴着荆棘冠冕。诸如Yorùbá传统、家庭事务、宗教细微差别、储蓄和历史观念等背景都是传播的文化禀赋,影响了广告的意义潜力。因此,分析人士可能会建议,广告商应该始终如一地用文化财富来装饰他们的广告活动。这种行为有能力教育和影响读者在他们的各个区域领域的消费。
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引用次数: 2
Taking a Dive Into Google’s Chrome Cookie Ban 谷歌Chrome浏览器的Cookie禁令
Pub Date : 2020-02-19 DOI: 10.2139/ssrn.3541170
D. Geradin, Dimitrios Katsifis
14 January 2020: After months of speculation, Google finally announced its plan to phase out third-party cookies on Chrome within the next two years. As Chrome boasts a worldwide market share in excess of 64%, the news sent shockwaves in the online advertising industry, whose foundations are largely built on web cookies. Concerns have been expressed that the banning of third-party cookies from Chrome could further strengthen Google and Facebook because of their large addressable first-party audience at scale. As to Google’s proposed “Privacy Sandbox” initiative, which it claims will “fundamentally enhance privacy on the web”, no one really knows how it will be implemented in practice and the industry seems to be confused. This uncertainty could hurt investment in an area that has already lost its attractiveness to investors. Against this background, this short paper examines Chrome’s policy change and its wider implications on the online advertising industry. Yet in order to appreciate the importance of the announced change we need first to get back to the basics and understand what cookies are and how they are used in online advertising. This is all the more the case considering that, while many people talk about “cookies”, few seem to have a solid understanding of what they are, how they are created, and for which purpose.
2020年1月14日:经过数月的猜测,谷歌终于宣布计划在未来两年内逐步淘汰Chrome上的第三方cookie。由于Chrome拥有超过64%的全球市场份额,这一消息给在线广告行业带来了冲击波,而在线广告行业的基础主要建立在网络cookie上。有人担心,禁止从Chrome中使用第三方cookie可能会进一步增强谷歌和Facebook的实力,因为它们有大量可寻址的第一方受众。至于谷歌提出的“隐私沙盒”倡议,它声称将“从根本上增强网络上的隐私”,没有人真正知道它将如何在实践中实施,业界似乎很困惑。这种不确定性可能会损害对投资者已经失去吸引力的地区的投资。在此背景下,这篇短文将探讨Chrome的政策变化及其对在线广告行业的广泛影响。然而,为了理解这项宣布的改变的重要性,我们首先需要回到最基本的问题上来,了解什么是cookie,以及它们是如何在在线广告中使用的。当许多人谈论“饼干”时,似乎很少有人真正了解它们是什么,它们是如何被创造出来的,以及它们的目的是什么,这种情况就更加明显了。
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引用次数: 4
Umbrella Branding in Pharmaceutical Markets 医药市场的保护伞品牌
Pub Date : 2017-09-20 DOI: 10.2139/ssrn.3040045
Moritz Suppliet
Umbrella branding is a marketing practice whereby multi-product firms leverage their reputation across different product categories. The paper investigates how advertising in the market for non-prescription drugs affects the decision to buy prescription drugs from the same firm. To estimate the effects of umbrella branding, I exploit the fact that consumer-directed advertising of prescription drugs is prohibited in Germany and identify advertising spillovers with an instrumental variable that builds on exogenous seasonality in the non-prescription drug industry. Umbrella branding results in market expansion, particularly for generic firms, and can have a positive effect on consumer welfare in under-treated therapeutic areas.
雨伞品牌是一种营销实践,即多产品公司在不同产品类别中利用自己的声誉。本文研究了非处方药市场上的广告如何影响人们从同一家公司购买处方药的决定。为了估计保护伞品牌的影响,我利用了这样一个事实,即处方药的消费者导向广告在德国是被禁止的,并通过一个工具变量来确定广告溢出效应,该变量建立在非处方药行业的外生季节性基础上。保护伞品牌导致市场扩张,特别是对仿制药公司,并可以对治疗不足的治疗领域的消费者福利产生积极影响。
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引用次数: 2
A 'Faustian Pact'?: Native Advertising and the Future of the Press “浮士德契约”?原生广告和媒体的未来
Pub Date : 2015-02-27 DOI: 10.2139/SSRN.2579341
L. Levi
As technology undermines the economic model supporting the traditional press, news organizations are succumbing to the siren call of “native advertising” – a new marketing technique for unobtrusively integrating paid advertising into editorial content. Brands are increasingly turning to native ads to preempt consumers’ well-documented ad avoidance. Although the native advertising model debuted on digital native news sites, it is now ubiquitous in elite legacy media as well. Everyone knew “native” had “arrived for good” when the venerable New York Times not only introduced its online “Paid Post,” but incorporated sponsored content in its print editions, and even hired an in-house branded content production team to conceive and execute the embedded ads on behalf of advertisers. Because such integrated advertising must inevitably flirt with disguise and deception, administrative and scholarly attention has principally addressed it through a consumer protection lens. Yet this conventional frame ignores the more insidious hazards of this transformational development. Apart from confusing at least some consumers, the turn to native ads will profoundly hobble the press in the exercise of its democratic role and will invite recalibration of its privileged constitutional status. These effects are particularly troubling in an age when increases in global state power and new forms of censorship most call for a powerful, independent and fearless press. Still, since native advertising is here to stay, admittedly imperfect responses must be explored. In that spirit, this Article proposes three solutions: 1) designing sponsorship disclosure at the per-ad level in close alignment with results of rigorous empirical research regarding consumers’ cognitive and perceptual responses to labeling; 2) adopting an additional new approach to corporate-level disclosure – highlighting advertiser identity and spending – in order to aid public oversight over the editorial independence of news organizations; and 3) addressing structural impediments to collective action by news organizations in order to promote collective strategies for effective self-regulation in the deployment of native advertising.
随着科技削弱了支撑传统媒体的经济模式,新闻机构正屈从于“原生广告”的诱惑——一种将付费广告悄悄地整合到编辑内容中的新营销技术。品牌越来越多地转向原生广告,以抢占消费者对广告的回避。虽然原生广告模式首次出现在数字原生新闻网站上,但它现在在精英传统媒体中也无处不在。当备受尊敬的《纽约时报》不仅推出了在线“付费邮政”,还在其印刷版中加入了赞助内容,甚至聘请了一个内部品牌内容制作团队来代表广告商构思和执行嵌入式广告时,每个人都知道“本土”已经“永远到来”了。由于这种综合广告不可避免地带有伪装和欺骗的意味,行政和学术的关注主要是通过消费者保护的视角来解决这个问题。然而,这一传统框架忽略了这种转型发展中更为潜在的危险。除了让至少一些消费者感到困惑之外,转向本地广告将严重阻碍媒体行使其民主角色,并将促使其重新调整其特权宪法地位。这些影响尤其令人不安,因为在这个时代,全球国家权力的增加和新的审查形式最需要一个强大、独立和无畏的媒体。不过,既然原生广告已经存在,我们必须探索不完美的应对措施。本着这种精神,本文提出了三个解决方案:1)根据消费者对标签的认知和感知反应的严格实证研究结果,在每个广告层面设计赞助披露;2)在公司层面采取额外的新披露方法——突出广告商的身份和支出——以帮助公众监督新闻机构的编辑独立性;3)解决新闻机构集体行动的结构性障碍,以促进在部署本地广告时有效自我监管的集体战略。
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引用次数: 24
FTC V. Garvey: A New Trend or an Aberration? FTC诉加维:新趋势还是反常?
Pub Date : 2009-08-28 DOI: 10.2139/SSRN.3028192
P. Walker
Over the past several decades, society has become increasingly infatuated with celebrity endorsements. The success of an endorsement depends upon many factors, including the type of product and the celebrity promoting it. The Federal Trade Commission (FTC) has specific guidelines and rules that address false and misleading advertising, including misuse of endorsements. This paper examines the legal impact of FTC v. Garvey under FTC Endorsement Guidelines for advertising and infomercials. FTC v. Garvey suggests that the FTC may vigorously pursue celebrity endorsers when products they endorse fail to produce their advertised results.
在过去的几十年里,社会越来越迷恋名人代言。代言的成功取决于许多因素,包括产品的类型和推广它的名人。美国联邦贸易委员会(FTC)有专门的指导方针和规则来处理虚假和误导性广告,包括滥用背书。本文考察了FTC诉Garvey案在FTC广告和电视广告认可准则下的法律影响。联邦贸易委员会诉加维案表明,当名人代言的产品未能产生广告效果时,联邦贸易委员会可能会大力追究名人代言。
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引用次数: 0
Towards Plain Packaging: New Zealand's Way Forward in the Regulation of Tobacco Products 走向普通包装:新西兰在烟草制品监管方面的前进之路
Pub Date : 1900-01-01 DOI: 10.2139/SSRN.2739489
Elena V. McLean
The New Zealand Government has indicated its intention to legislate for the plain packaging of tobacco products. This paper considers what path New Zealand should take in implementing its own plain packaging regime. Consideration of New Zealand’s particular interests is necessary in determining what constitutes the most appropriate approach to plain packaging for New Zealand. Whether these interests would be best represented through a policy of alignment with Australia or by implementing an alternative approach to plain packaging should inform the way in which the New Zealand Government proceeds with plain packaging. This paper considers alignment with Australia to be the most effective way to address the public health concerns presented by tobacco products and recommends that plain packaging is implemented in alignment with Australia’s plain packaging regime. However, this paper also recognises that a policy of alignment gives rise to certain risks and seeks to demonstrate that there are ways in which these risks may be reduced. New Zealand should consider the implementation of certain measures to reduce the risk of investment arbitration as well as the possibility of variations on the basic position of alignment in order to reduce the risk of WTO claims against plain packaging.
新西兰政府已表示打算为烟草产品的无装饰包装立法。本文考虑了新西兰在实施自己的普通包装制度时应该采取的路径。在确定什么是对新西兰来说最适当的无装饰包装办法时,必须考虑到新西兰的特殊利益。这些利益是否能通过与澳大利亚保持一致的政策或通过实施一种替代无装饰包装的办法得到最好的体现,应该为新西兰政府处理无装饰包装的方式提供信息。本文认为与澳大利亚保持一致是解决烟草制品带来的公共卫生问题的最有效方法,并建议与澳大利亚的平装制度保持一致实施平装。然而,本文也认识到,统一政策会产生一定的风险,并试图证明有一些方法可以减少这些风险。新西兰应考虑执行某些措施,以减少投资仲裁的风险,以及调整基本立场的可能性,以便减少世贸组织对普通包装提出索赔的风险。
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引用次数: 0
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Advertising & Marketing Law eJournal
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