Final answer:
The advertising tactic described in the question is known as bait and switch, a strategy that lures customers with a low-priced item and then encourages them to buy a higher-priced one. Unlike bandwagon, which plays on the desire to fit in, bait and switch manipulates customer intent with a switch in offer. Consumers should be cautious and vigilant with such advertising strategies, embodying the principle of 'let the buyer beware'.
Step-by-step explanation:
When people are lured in by an advertisement for a low-priced product but are then persuaded to purchase a higher-priced item, this tactic is known as bait and switch.
This strategy exploits human psychology by drawing consumers with the promise of one deal and then redirecting them to a more expensive option after they have shown interest. This is considered a deceptive marketing practice and is regulated by the Federal Trade Commission (FTC) to ensure that advertisement claims are truthful and non-deceptive.
The use of bandwagon is another common advertising tactic, where marketers encourage the sense that "everyone is doing it" to motivate individuals to not be left out. While bandwagon appeals to the human desire for belonging, bait and switch manipulates initial customer interest and intent. Both tactics are used to influence consumer behavior, but only bait and switch involves a deceptive practice of offering one thing and then pushing another, more expensive product.
It's important for consumers to be aware of these tactics and approach advertisements with caution and skepticism. Caveat emptor or "let the buyer beware" certainly applies when considering these advertising strategies, suggesting that it is the responsibility of the consumer to be informed and vigilant about potential deception.