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Previous research demonstrates that rhetorical figures differentially affect the extent of ad processing. Specifically, tropes (a type of figure) deviate more from expected language use than schemes, with the greater deviation yielding more extensive ad processing. We extend previous research in two ways by focusing on the incongruity differences that exist between schemes and tropes. Study 1 uses syndicated data (Starch readership scores) to test how figures combine to affect the extent of processing. Results show that when figures leverage unique mechanisms (i.e., schemes and tropes), their combination yields incremental processing gains. Alternatively, when figures leverage redundant mechanisms (e.g., multiple tropes), their combination yields no incremental processing. Study 2 is an experiment that tests how figures separate in affecting the focus of ad processing. Results show that schemes generate a generalized focus on the entire ad, including both ad-stylistic and message-related aspects, while tropes generate a more selective focus on message-related aspects.

This study builds on past research involving the economics of advertising information (Nelson 1970, 1974) to examine the interplay between advertisers’ provision and consumers’ readership of information. The authors focus on the prepurchase verifiability of advertising claims in three product categories: search products, experience shopping products, and experience convenience products. They use a broader measure of the information content of advertising than in past research, together with Starch readership scores for a sample of ads from nine U.S. magazines. The results show that the relationship between information provision and readership is positive for search products, negative for convenience products, and nonsignificant for shopping products. Average information levels are significantly higher in ads for shopping products than for convenience and search products. These findings suggest that advertisers may be underinforming consumers when promoting search products.

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PurposeFinance theory proposes that consumers require information about the risk‐return trade‐off credibility information to relieve principal‐agent conflict concerns, and transaction cost information – for investment decisions. This paper aims to investigate whether or not such information is present in advertisements for one investment vehicle – mutual funds.Design/methodology/approachAll advertisements in Barron's and Money over two years were content‐analysed to determine the degree to which mutual fund advertising practice adheres to theories regarding information necessary for optimal investment decisions. Use of techniques known to influence advertisement noting (i.e. advertisement size and colour) and copy readership (i.e. visual size, text length, unique selling proposition/brand‐differentiating message, celebrity endorsements, direct or indirect comparisons with competitors, and emotional appeals) was also investigated. Finally, because mutual funds are a financial service, the presence of convenience information (e.g. investment minima, access to agents or account information, and liquidity) was studied.FindingsMutual fund advertisements are not providing the information necessary for optimal investment decisions. Mutual funds use techniques known to increase the likelihood that their advertisements are noticed, but they also use techniques known to decrease the readership of their advertisements. Also, they rarely included convenience information.Research limitations/implicationsMutual fund advertisements attempt the activation of the advertised brand‐quality and the long copy‐quality heuristic. However, future research must determine whether or not consumers are applying these two heuristics on seeing mutual fund advertisements.Originality/valueMutual fund advertising is not serving consumers. Regulators should require all mutual fund advertisements to include an easy‐to‐read table summarizing necessary investment information to assist consumer decision making.

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Purpose -The purpose of this article is to develop a theoretical explanation -financial numeracyfor consumer proficiency with financial services. With sufficient financial numeracy, consumers benefit fully from financial services and make competent choices in regard to financial management. Design/methodology/approach -The article builds theory by combining consumer cognitive capacity and customer knowledge theories with findings from prior studies of consumer difficulties with financial services to introduce a comprehensive model of the antecedents and consequences of financial numeracy with testable propositions for many psychographic and cultural influences and moderators. Findings -Financial numeracy demands that consumers possess sufficient financial information processing capacity and ability as well as sufficient prior knowledge of financial concepts. Although partly a function of individual cognitive ability, it can be enhanced through appropriate experience with financial instruments and familiarity through personal financial materials when consumers are motivated to process them. Financial numeracy directly affects financial management outcomes related to borrowing, saving, and taxes. It indirectly affects higher-order financial consequences, such as a consumer's credit score, interest rates charged on subsequent loans, net worth, likelihood of bankruptcy, and size of inheritance. Originality/value -Consumers around the world are increasingly experiencing difficulties with financial services. To advance research in financial services marketing beyond documenting troublesome financial behaviours of consumers, this conceptual model provides insights to help increase consumer proficiency in comprehending and managing financial services based on knowledge about consumer information processing, learning, memory and the cultural and psychographic influences on these internal processes.

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