Get-rich-quick Schemes

Get-rich-quick schemes are known as too good to be true, so why do people continue to participate in these businesses?In this episode, Jessica is joined by Associate Professor Isaac Cheah and Associate Professor Billy Sung from the Curtin School of Marketing. They describe how get-rich-quick schemes work and why people continue to fall for them. They also explore whether social media will help or hinder these schemes in the future. What are get-rich-quick schemes?  [01:00]Reasons why people get involved in get-rich-quick schemes [03:14]Why health and wellness products lend themselves to pyramid and multi-level marketing schemes [07:43]Schemes using social media to target the vulnerable [12:37]Psychological tactics and effects of get-rich-quick schemes [15:47]Social media platforms banning pyramid and multilevel marketing scheme content [18:50]Learn moreThe Conversation: Multi-level marketing has been likened to a legal pyramid scheme – the backlash against it isgrowingThe Western Independent: Get rich or get scammedThe Guardian: ‘They have you in a cultish grip’ — the women losing thousands to online beauty schemesConnect with our guestsAssociate Professor Isaac CheahAssociate Professor Cheah is from the School of Management and Marketing at Curtin University. He is the Editor for the Journal of Global Scholars of Marketing Science, and the Associate Editor for the International Journal of Advertising. His research focuses on the study of consumer behaviour, marketing communications, advertising appeals and market research.Associate Professor Cheah's staff profileAssociate Professor Billy SungAssociate Professor Sung is from the School of Management and Marketing at Curtin University. He is the Research Lead of Curtin’s Consumer Research Lab, where his research focuses on the study of emotion and the application of psychophysiological methodology in multiple disciplines including marketing, consumer psychology, health, and robotics.Associate Professor Sung's staff profileQuestions or suggestions for future topicsEmail thefutureof@curtin.edu.auSocialshttps://twitter.com/curtinunihttps://www.facebook.com/curtinuniversityhttps://www.instagram.com/curtinuniversity/https://www.youtube.com/user/CurtinUniversityhttps://www.linkedin.com/school/curtinuniversity/TranscriptYou can read the full transcript for the episode at https://thefutureof.simplecast.com/episodes/get-rich-quick-schemes/transcript. Curtin University supports academic freedom of speech. The views expressed in The Future Of podcast may not reflect those of Curtin University.Music: OKAY by 13ounce Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Music promoted by Audio Library.