Behavioral Economics

Which of the following is an example of companies using FOMO as a digital marketing tactic?

• 1. Offering a one-click buy button

• Using a countdown sales timer

• Using a countdown sales timer

• 1. Emailing you a birthday coupon

In March 2019, Instagram announced a brand new feature! What is it?

• 1. You can now pay to keep your stories posted for a week

• 1. You can now pay to become blue check verified

• 1. You can now pay to remove all sponsored posts from your feed

• 1. You can now pay for purchases within the app

What does FOMO stand for?

• 1. Fear of More Obligations

• 1. Fear of Missed Opportunities

• 1. Finding Our Magic Opportunity

• 1. Fear of Missing Out

What's one reason Instagram decided to let companies sell products to users within the app?

• 1. Instagram wants big brands using the app, not individuals

• 1. Instagram was bought by Facebook & this was part of the deal

• 1. Instagram charges companies a selling fee

• 1. Instagram is rebranding as a shopping platform

Research shows that ____ of people make purchases because of FOMO.

• 1. 25%

• 45%

• 60%

• 1. 90%

According to a 2018 Survey, what percentage of U.S. teens say they are Instagram users?

• 1. 89

• 1. 72

• 1. 65

• 48

People under the age of 30 make up _____ of all those who experience FOMO.

• 1. 15% 

• 1. 31% 

• 49%

• 56%

 What is the average amount of money an American teenager spends on food and clothes each year?

• $5,000

• 1. $4,100

• 1. $2,600

• 1. $1,200

Which brands below are now able to sell items directly from within the instagram app?

• Toms and Supreme

• 1. Kylie Cosmetics and Adidas

• 1. Gucci and Balenciaga

• 1. Ray-Ban and Tommy Hilfiger

What are the top two causes of most people's FOMO?

• food and jewelry

• 1. events/parties and travel

• 1. events/parties and travel

• 1. shoes and clothes