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Although this study provides insights on the effects of economic situations on

advertising, it has some limitations that future research could consider. First, it should be taken into account that while a content analysis can provide a significant amount of descriptive information, primary research involving surveys and interviews to agencies and professionals would better help understand the strategies implemented to overcome the economic situation.

Thus, future research should adopt various qualitative methods, such as interviews, to extend our understanding of luxury advertising in Argentina.

Second, although this study may provide a depiction of changes in the luxury brands advertising, future research with additional product categories will be of paramount contribution to these findings about whether, and to what extent, the imports and currency restrictions in Argentina have affected the messages placed in the media. For instance, a more representative sample could be achieved by looking at wines and spirits, perfumes, or cars, among others.

Third, it should also be considered that only magazine advertisements were used for this study. Thus, future research should conduct analyses over various types of media to explore a higher reliability across other media outlets. Particularly, including social networking sites, television and Internet pages, which tailor promotional messages to local markets, would significantly extend our findings.

This research provides important findings for theory and practice, and supports the findings by An (2003), Ahn et al. (2011), and Sung and Hennick-Kaminski (2008) by stating that advertising indeed reacts to changes in market rules by tailoring its content, visual techniques, and commercial tones and strategies. In addition, this study serves as an exploratory research on the advertising industry in Argentina, a market that is growing year after year, and is often ignored by scholars. Yet much remains to be discovered to understand fully the impact of regulatory authority queries and actions on advertising execution.

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APPENDIX I. CODING SCHEME Global and Domestic Luxury advertising - Content analysis coding scheme

1. Ad ID: __________________ 2. Coder: 1) ________ 2) ___________

A. Ad Types

3. Magazine: (1) PTC (2) Vogue (3) Brando

4. Magazine issue Year: __________ 5. Month: ________

6. Advertised Luxury Brand Name:

A. International Luxury Brands

(1) Anna Sui (2) Audi (3) Balenciaga

(4) Bally (5) Bang and Olufsen (6) BMW

(7) Bulgari (8) Burberry (9) Cadillac

(10) Calvin Klein (11) Cartier (12) Celine

(13) Chanel (14) Chaumet (15) Chloe

(16) Christian Dior (17) DAKS (18) Dolce & Gabbanna

(19) Donna Karan (20) Elizabeth Aden (21) Ermenegildo Zegna

(22) Escada (23) Estee Lauder (24) Etro

(49) Ralph Lauren (50) Rolex (51) Shiseido

(52) Sisley (53) Swarovski (54) TAU Heuer

(55) Tiffany &Co. (56) Tissot (57) Valentino

(58) Versace (59) Volvo (60) Yves Saint Laurent

(61) Others _______________

B. Argentine Luxury Brands

(1) Aló Martínez (2) Akiabara (3) Ay Not Dead Martínez

(4) Ayres (5) Benito Fernández (6) Blaqué

(7) Bensimon (8) Bowen (9) Cardón

(13) Complot (14) Cook (15) Desiderata

(34) Paruolo (34) Paula Cahen D´Anvers (35) Peuque

(36) Portsaid (37) Prune (38) Rapsodia

(39) Ricky Sarkany (40) Tucci (41) Uma

(42) VER (43) Vitamina (44) Wanama

(45) XL (46) Yagmour (47) Others _______________

7. Advertised Luxury Brand Category (check only one major product category) (Fionda and Moore 2009; Henderson & Baldasty 2003)

(1) Fashion(clothing/shoes/bags) (2) Perfumes and cosmetics (3) Watches

(4) Jewelry and accessories (5) Automobiles (6) Wines and spirits (7) Others: Specify___________

B. Appeals

Function and Image appeals (Wilcox, Kim & Sen, 2009)

(Check all that apply: Check “1” when the following appeal is used; Cheek "0 when is NOT)

(0) No

(1) Yes 8 Function-oriented appeal (It emphasizes the consumer’s practical, functional, and

utilitarian need, such as quality and reliability of products)

0 1

9 Image-oriented appeal (It emphasizes image-related aspects of products such as a particular image of a brand in a society or a symbol of a society) ______

0 1

10. Does the ad use emotions as the basis of messages such as fear, happiness, joy, etc? (Frazer, Sheehan,

& Patti, 2002)

(0) No (1) Yes

If the ad uses emotions, to what type of emotions described below are depicted?

Types of emotions (0) (1)

11 Cheerful emotions: happiness, elation, joy, excitement, delight, gladness 0 1 12 Quiescent emotions: calmness, placidness, restfulness, peacefulness, relief 0 1 13 Dejection: sadness, regret, disappointment, depression, shame, blame, worthless 0 1

14 Agitation: stress, tension, anxiety 0 1

C. Strategies and messages of ad

(Check all that apply: Check “1” when the following messages are emphasized in the ad; Cheek "0 when is NOT) 15 Product performance: Directly address the product performance (show or

explain how the product functions)

0 1

16 Utilitarian Need: Address the consumer’s practical and utilitarian needs/

effectiveness of products

0 1

17 Ingredient of products: Explicit mention of product ingredient 0 1 18 Economical Value: Address the consumer’s economic benefits 0 1 19 Self-esteem/ self-images of products usage: Being different from others or

standing out/ emphasis on the unique personality, originality

0 1

20 Accomplishment and achievement: Reflection of self fulfillment, self development, personal success or personal goal achievement

0 1

21 Sexual images of products 0 1

22 Modern/contemporary looks of products: New, modern, innovative, improved, progressive products

0 1

23 Technological aspects of products: Technological, engineered, and resulting from science, invention, discovery, or research

0 1

24 Safety, secured image of products: Address safety and stability of products 0 1 25 Trendy: There is a slight sense of chaos to this type. The model has an

"I-don't-give-a-darn attitude”

26 Relaxed/comfortable: Relaxed and restful, being laid back images of products 0 1 27 Social Approval: Associated a product usage with a particular situation, type of

person, or lifestyle

0 1

28 Symbolic meaning: Address symbolic meaning/ impressions of the product in a society.

0 1

D. Language

29. Does the ad use more than one language? (0) No (1) Yes

30. Indicate all languages used: (All that apply)

a. (1) Spanish (2) Italian (3) French (4) English (5) Other ____________ (6) Not sure b. (7) No written language used other than brand logos and symbols (visuals only)

E. Characteristics of Human Models in the ad (Sung and Hennink-Kaminski, 2008)

31. Human models in the ad? (0) Not present (1) Present (If “Not”, skip this section.) 32. How many male human models in the ad? ( )

33. How many female human models in the ad? ( ) For Race and Characteristics

Code through subjective determinations based on visual cues (skin color and facial features). When two or more models appear in an advertisement, code the one who is perceived to be the central character. If no obvious central character is in existence, the analyst assigns a number to each model (e.g. one to four) and selects one of these randomly using the generator available at

www.randomnumbergenerator.com, for inclusion in the sample. Thus, only the number thrown by the website should be analyzed. In short, the unit of analysis is the central character in a full-page

advertisement.

34. Race of human models Race: (CIA Factbook, 2008) - See pictures below for further reference

       

-White- -Mestizo- -Amerindian- -Other non-white- 1) White – a person of European descendent

2) Mestizo – a person of mixed raced

3) Amerindian - any member of the peoples living in North or South America before the Europeans arrived

4) Other: Specify __________________________________

F. Visual cues (Sung & Hennink-Kaminski, 2008)

35. Ad Sizes: (1) Less than 1/2 page (2) less than 1 page (3) 1 page (4) more than 1 page less than 2 (5) 2 pages

(6) more than 2 pages (____ pages)

36. Ad Illustration: (1) Artwork (2) Photos (3) Combination artwork /photos (4) No visuals/all copy

37. Visual/Verbal Balance (choose closest one):

(1) No Words (2) Some words but less than 1/4 words

(3) 1/4 words and 3/4 pictures (4) 1/2 words and 1/2 pictures (5) 3/4 words and 1/4 pictures (6) Less than 1/4 pictures (7) No pictures

38. Settings in human model(s) depicted. (van Rompay, de Vries, Bontekoe, & Dijkstra; 2012) 1) Business/sales (retail settings in which consumers are depicted inside bank/financial

institutions)

2) Home/indoor (recognizable as a residence, room at home, garage, yard, or parking space) 3) Outdoor/natural scenery (includes forests, rivers, ocean, fields, or sky as well as streets,

public roads, sidewalks, or pathways, Does not include outdoor settings at individual’s home)

4) Social setting outside home (includes public places such as auditoriums, churches, classrooms, stadiums, libraries, restaurant, or move theaters. Where people meet for social purposes.)

5) Others: Specify _____________________________

39. What is the setting/location of the advertisement?

1) Local theme – the background depicted recreates the Argentine culture, landscape or architecture. E.g., Iguazu Falls, Obelisco in Buenos Aires, Quebrada de Humahuaca.

2) International theme – the background depicted clearly denotes an international setting. E.g.:

Eiffel Tower, the Central Park, Caribbean Beach, etc.

3) Studio setting – the subjects pose in front of an artificial background, such as cloths or are superposed on a background impossible to capture through a real-life photography session, such as the space.

4) Illustrated background – the background is the result of graphic design

5) No background – e.g. the models are superposed over a solid background such as all white.

6) Other: ____________________________________

40. How is the camera angle of the background in the ad?

1) Horizontal 2) Vertical

41. How is the camera angle of the product in the ad?

1) Horizontal 2) Vertical

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