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Lecture
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for the presentations So yeah
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Okay then I'll just close this door and we can start
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Good All right So today we will talk about
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label foot labeling and yeah I think we have already started
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mentioning some kind of um cla we talked about claims we've talked about
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regulations regarding the claims but not food labeling itself branch of pack labeling for example Yeah this is what
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we're going to start discussing today So to begin with I will just I it's a
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pity if there's more people coming Yeah Okay And they will pop up Um yeah
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All right Let's begin
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So we know I mean in everyday life we have
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so many decisions to make right We are always exposed to different types of products We want to see what we eat what
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we don't want to eat what we would uh prefer in terms of taste and pref we
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would want in terms of cost Um we also when we're thinking about eating or purchasing something we think about okay
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how long is the shelf life What are the ingredients Where does this come from
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Where how was it produced Where was it produced So we're constantly being exposed to this
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and to be able to understand what we're
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doing I want to bring you this graph and I would like if any of you could tell me what I think about this um this model of
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behavior So we know that the personal model was if the when there's we have
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specific attitudes then we have an intention to have we have an intention
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for example an intention to buy a product and then we actually pursue that behavior but what do you do you think
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this model seems fair seems good enough clear enough um it lacks some things
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what do you Any
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ideas Oh come on guys Anyone open the mics
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Maybe there should be added some outside factors that
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uh could change the attitude intention or behavior Yeah Yeah I mean we can even
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Exactly That's that's a great point because we can give a very easy example Let's say I want to be more um more
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sustainable in my in my purchases I want to purchase more um products that are uh
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more fair trade products or I want to be more environmentally friendly So does it
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really mean that because of wanting that and because of having that intention I will pursue that behavior
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No There we go Why Because there's maybe some
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I don't know also attention gap information overload Yeah Too many
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choices Uh exactly Very good So no that's not
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really that's not really the way in which things go we have some kind of
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controversial connection If a decision or a behavior would look more like this
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I mean I have the best intentions ever and there's a super awesome outcome I'm
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so looking forward for to to have that outcome but then we are burned by the flaming gap or maybe later or ah I don't
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know now I'm looking at it again and I do not know or maybe I want to procrastinate and don't go not go
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forward with that specific behavior So no that it's not so simple as that
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We know that attitudes only explain around 20 to 40% of the actual behaviors And this is another this is one example
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another example similar to what I was telling you before There is a large discrepancy between the attitudes to
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envir towards environmental protection and environmental conscious behaviors Which other example could you give me
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of such discrepancies in your life Where do you find the discrepancies When you
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want to do something maybe if it's food related that's better When you want to do something and then your behavior ends
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up being completely different consuming less meat or consuming less sweets or
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any fast food Yeah Perfect Yeah So you want to consume and then what happens
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Um you still want to maybe buy it for your pleasure Yeah For your satisfaction
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Yeah Exactly Or maybe it's the weekends and it's friends night and you've been eating meat but it's it's there and it's
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a social reality Or maybe you just get confused and you're in the supermarket
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and you suddenly purchased the meat when you wanted the meat alternative So it's
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not as simple as what we thought it would be The reality is something This
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is one of the models that could talk about the the different mediators and the different um outsider and insider
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factors that will actually determine a purchase behavior or a specific behavior
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We know that we have up to 200 eating decisions daily And for many of us it's
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very difficult to implement a healthy and balanced diet day after day meal after meal And so what happens We
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wanted to find some kind or we want we have developed some kind of instrument
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that helps us reduce this attitude behavior gap let's say and there is this
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thing this policy instrument it's a tool to increase awareness of hidden aspects
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and it can provide consumers with information information they require to
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actually before using the product and information about the manufacturing
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process right And here I'm going to ask you so we would have labeling schemes
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and I want to specifically ask something and there's someone that in the first class really talked about this and I
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want to ask if any of you can think of something that labeling schemes help
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Like if we're standing on the consumer side and we see labels on food it helps
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to mitigate one of the problems we were seeing in terms of communication
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in terms of information Who can come with this idea What can labeling schemes
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improve or reduce I know Anna knows it but the other ones
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that were in the first class you should think about it
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Information as you mentioned Yes there we go That's very important So we will
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with labeling things we can help solve this But before we reach there we have
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to think okay what is the idea behind a label So we have to think about
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information economics and signaling and utilization
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So from an information economics perspective oops there's someone else now Um we have that we see that
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market a market is properly functioning when consumers are able to purchase the product as that best matches their
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preference I mean someone could tell me yeah okay this statement is partially true because I mean we know that
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sometimes through the market wants us to purchase something that doesn't match match our best preferences but that's an
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ethical question and we will see what's related to that next class but there's
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another concept that it says that the flow of information among among market participants plays a crucial role in the
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efficient operation of markets and that the market itself can be eroded by the
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flow of information among market yeah among market participants and um that we
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I mean we try to make this information trans um this information transferal
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efficient and this is where we're going to use labeling schemes and this is what we're talking about we want to deal with
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information asymmetry So
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we've talked about this but a symmetric information occurs when one party okay
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occurs when one party has more information compared to the other party
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right and it's typically manifest when the seller of a good or service posser
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And in economical theory strategies combating this adverse selection are
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signaling and screening So what are we going to use to tackle information asymmetry Signaling and screening
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Now we will dig dig into those two So what screening Let's see again Sorry
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maybe I went a little bit too fast But so we have a symmetric information We
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talked about the fact that maybe in the end everyone should be able to access information We discussed this in the
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first class But the truth is that some information is hidden and we want to try
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to decrease this gap So we're going to use signaling and screening to try to
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deal with it So if I say screening what do you think about
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what can be Yeah the mechanism of screening itself
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So if I am have you ever been in the doctor like to a doctor and they said "Oh we're going to do a screening test."
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Yeah Yeah So what is usually like a test
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of the audience like like some kind of research on the audience you mean Yeah
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Yeah So basically what we will see is that the the agent that has less
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information will try to gain a further insight and and we'll try to understand
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more the private information from the other agent So we as consumers we're
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going to screen through things to try to understand information that the producer
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is giving us But the screening is usually set from the um the action
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undertaken by the party with less information in this case would be by us
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consumers Yeah Is screenings
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relatively clear
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So we are the Yeah Okay Good Thank you very much And now we go to signaling What do you
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think that signaling could mean
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If the other one if the screening was from the side of the party with less information
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who could be the one signaling The producers that helps us to screen
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helps to screen for consumers the package
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Exactly So you already went perfectly ahead So yes the Oops this is not
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working There we go So the signaling will be given by the party that has more information The party with more
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information provides relevant information to the less informed party In some cases of asymmetric information
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the government decides to intervene in the market and provide consumers with information
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And so we we now we will start start talking about labels And again just for
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you to know and to be clear the signaling will be the action undertaken
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by the party with more information
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So what uh can be signaling Well we've
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already started mentioning labels provide consumers with information and increase the efficiency in the market
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hopefully and the end point the efficiency we could discuss who says what is efficient and what's not but
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that's not the point of today um oops up the cost of b and benefits of labeling
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are likely to depend upon the type of attributes considered so are labelings
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co like do labels do labelings cost all the same no it will depend on which type
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of label what attributes are we looking at and also um who is the responsible
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authority for example making them mandatory or not or or doing their distribution So
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if we're looking at um utilization and signaling so there are going to be
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certain quality attributes and these ones can be categorized on search attributes experience attributes and
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breedance attributes So if I tell you
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sorry attributes but if I tell you experience attributes what would you
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think I'm I want to yeah I'm I'm trying to think about an experience attribute
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What do you think it could have to do Is it does it have to do with my knowledge
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about something Does it have to do with um with the senses What could experience
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attributes have to do Uh I think it's those are the attributes
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that the buyer already experienced by already buying this product or similar
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products So uh if he has this experience he might buy the product again or not depending
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if his experience is good or bad Yeah Perfect That's very very good experience
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So you are already have experienced the product So
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first we'll go through search attributes But I just wanted to ask you as always So the search attributes can be assessed
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prior to the consumption So the search attribute is what I'm going to see I'm going to see the product I'm going to
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see the price I'm going to see the brand I'm going to look at the labels and stuff And this is a type of signaling
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that is given to me And I make a decision based also on those attributes Right Those are going to condition my
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choice As Leon just said the experience attributes can be assessed after the
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consumption It has to do with the fl the senses the flavors how my own perception
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on what's tasty what's not my own um how
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do I relate things into my own experiences And finally the credence attributes have
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to do more with the things that okay it says that's regional Can I really
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can I really experience if it's regional or not Can I know if the if the animal
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welfare is good or bad So they had to do more with believing like the attributes
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that are going to be said If something is um biological I cannot really taste
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it but it's going to be I'm going to believe the brand or I'm going to sorry
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not the brand I'm going to believe the the label in this case So this is quality characteristics You
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cannot assess them at the point of sale without additional information certification labels like what I was
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saying if it's regional if it was made in Champagne or if it was made in Spain or whatever
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So labels offer a method for communicating attributes to consumers We've talked
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about this Labels have been proven effective in product marketing
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They could indicate quality characteristics the origin of this product traditions environmental
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concerns nutrition concerns are also not said but um several of the things
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labels can be encouraged and promote by private firms It's what we were talking about It can be things that are said in
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from a like private firms or it can be something said by public policies can be
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that government decide that this is a must because we need to have this um
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signaling out there so consumers make better choices Which type of label do
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you think that the government would be interested in putting out there for to
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kind of empower consumers into making what they consider as better choices
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Which type of label What do you think Maybe not score Yeah very good Yeah that
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sounds good What about a one that's going to come or hopefully or maybe not
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similar to a nutri score that some governments want to put
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maybe the echo score I'm sorry Yeah you do deforestation thingy
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I don't think there should be label there There we go Okay You think there should
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be a deforestation label Okay good Who else Who else would want to have a specific type of label set out there
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Let's do a label brainstorm What do you care about that you would
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want people to know before purchasing a food product or a product from Yeah
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Yeah If it's healthy or not I think that's and maybe Yeah Like the
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nutritions are in there Yeah Nice Okay Okay So we have Forest Cora again and Nutrrisco
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Anyone else Would you like to develop your own label to underline something
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about the real product I think it could be like those vegan
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logos also because for people who have that lifestyle it's really
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important to know or like for people who have other dietary needs like inc
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Yeah gluten Very good Yeah very good Gluten very good Okay any more ideas Uh
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if it's produced in fair conditions um we pay fair prices for the producers and
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that Yeah very good Nice Good Any other ideas
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It could be for example if it's organic or not the product the original product
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Yeah very good And now comes a question that will relate to one of my previous
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classes and now we see how much asleep you were If I'm talking about labeling
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we were talking about the nutrition Is this the same as we were talking before about health and nutritional
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claims Are they different
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Uh-huh Are they the same Um I think they are different in terms
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of design for example Yeah Because the the goal of the the poll are the same
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trying to make a react on the on the on the behavior of the consumer but at the
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end are like the design is totally different The design Yes And sometimes
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you said Daniela very good DA may be similar what we were talking about some
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health claims you remember some health claims were talking about something that could improve your immunity but that's
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not going to be a label but it could have to do with something being more being more healthy like being healthier
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and we also have labels like the nutri score that show that this should be healthier in some way Yeah very good
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Okay just some small trip to the past
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Okay so now an excursion into perceived quality
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What is quality for you guys Um food that is safe for consumption
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Sorry food that is what Safe for consumption Safe for consumption Very good Okay nice
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faith food for consumption Anyone else What is quality When you're looking for quality food what do you maybe that is
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produced with
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uh good it has good good taste like Yeah
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Okay Mara you would look at taste Yeah Also in I don't know if it's the word in
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English Which one They give clean a clean production Yeah Yeah This clean
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production Okay We could go deeper into asking you what do you mean by clean production but it's fine That's quality
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for you that it has to have some kind of clean production and that's tasty Anyone else
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Okay So perceived quality is a very subjective
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concept as you would have all expected right So for consumers food quality can
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have something to do with taste food with freshness with the production method as you guys were mentioning with
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safety you also mentioned it convenience appearance it it varies a lot and there
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is not really a specific definition of quality especially for food products
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Sorry So we could say that there is an objective and subjective dimension of
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quality We could say that objective would be all physical characteristics
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built into the product So we can say okay all these physical characteristics
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are in the product or not in the product If we measure I don't know it has a good
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quality product would have to have this this and this requisites
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But we also have the subjective characteristics That is what we were talking about It has to do with our own experiences It has to do with our own
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likes and dislikes It has to do with with us consumers
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So how do you evaluate the tastiness of
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meat in a supermarket That's a nice question I'm asking to you If I'm
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because we're talking about quality right So how can you evaluate if for example you have a meat product you have
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to choose or make a vegan alternative but you want to choose meat that is of a
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fairly good quality right but how can you assess it
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no I think you might not know you would just have to come and at home Yeah Okay
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It's one of those things that you cannot really you cannot really um you can't
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really tr taste but there are some labels that would would there be a label
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that would help you um perceive something like better or
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tastier than another one So from one to five gradation where
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animals were lived Okay that's that could be like the like
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that that would tell you more about the Yeah true the quality and maybe if you
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think about it it's better meats there's less fat so think yeah better quality
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Someone raise your hands Yeah please go ahead Don't need to raise your hands Just talk
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Yeah for the quality of the meat there are some countries that are actually popular for quality of meat that they're
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producing in the market For example Argentina you know to give really good meat for
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states And then Japan for the Wagi beans So somehow if you know where the meat
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came from you'll have um assurance that they went through um a
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training and that they actually have good quality
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Exactly Well that's a little bit what we were talking about when we were talking about signaling that it's not you talk
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about regional you talk about Argentina meat and it comes with some kind of okay that must have a good quality but the
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tastiness you cannot really judge it You could say that for example if you have
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this is the most preferred um there is like the most um yeah the most preferred
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label that says this is the most preferred beat or whatever like um do you know in
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Kolate they used to say like I don't know four out of five dentists recommend
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this for a high quality or what then you would have those type of signalings that try to communicate and say okay this is
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quality or this is good taste But the taste you would have to try it It's true
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How could you evaluate the healthiness of the food Well we've already mentioned we can talk about the nutri score We can
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talk about um well we will see the other ones
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How do you evaluate the butter the quality of butter in a supermarket That's interesting
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How do you guys any German how do you evaluate which butter has good quality
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Come on I know you all purchased price
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If it's expensive then good probably They also write numa So the number one
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battery in Germany Yeah This this rating they have for quality Very very good
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Yeah Um you were talking even here and we you were talking about the animal
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welfare how could you evaluate it Well there is a labling scheme for that
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So I mean when we are trying to understand and perceive quality we're always doing
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inference right we're always doing counting out like evaluating what we consider that's important for us what is
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exposed there Um yeah consumers can use the color
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the color and fat as an indicator for taste and tenderness of meat For example when I look at the salmon I would think
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yeah if if it has like larger stripes of fat maybe it's not less quality but it's
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not it's in my case it would be healthiness you know I would look at it but you can see yeah the appearance can
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be an indicator of taste uh the price what they said it's an indicator of taste and I think we talked about in the
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beginning the point of sale can also be an indicator of quality why do I say
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that the point this one point of sale as an indicator of quality perceived
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quality what can we change to make something look we also talked about it when we
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were talking about the marketing mix here we're bringing it together a bit
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what do we talk about yeah placement of the product the placement of the product in the supermarket placement in the
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product of the supermarket very good also when we were talking about
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presentation or distribution if I want to sell a product that um like I want it
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to be perceived as high quality let's say ser just the cereal bar that is a
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high quality very good sustainable organic I will not put it in and normal supermarket I will go to a bio store I
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will go to Helen bar or I would go to a specific specialty store those sort yeah
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so perceived quality describes the product's quality from the consumer's viewpoint and it's dependent on the
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perceptions the needs the goals the history of the person itself differs between consumers and will
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change over times so consumers consumer research tries to
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find patterns and see what's the perceived quality and which are the trends depending on the um different
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group like cohorts or um studying groups We want to see how they behave according
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to um what's their perceived quality according to this labels or the characteristics of a product So now
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going to labeling schemes Do I give you four minutes or we're good
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started a bit later today so we should be No we're good Come on Adan You're the only one I see right now So whatever you
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say or you do that's going to be the word of the people Um so less No come on
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You took your image out That's not fair Um so what do I mean by label
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compulsoriness Some people were here last year What do
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I mean with this This is important And this is going to be the type there's three types of um label characteristics
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we would say um like sorry label classifications and I'm talking about
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label compulsory comp compulsion basically is like whether it is strict
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governally like regulated label or not maybe right okay strict
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okay yeah someone else also I think it talks about what is mandatory
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to be on any food label It's perfect So yes it's like how much
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of a label would be mandatory and which proportion would or sorry which label
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would be mandatory and which ones would be voluntary If you take a package of
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anything now what do you think would be a mandatory requirement for a label
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The ingredients Very good What else We have also the
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origin like that's a the origin meaning um like
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made in Germany Ah yes Yes of course With the name of the where it was produced and the distributor Yeah Very
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good What else Net quantity
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Very good The weight the volume Very good What else
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Yeah very good Expiration date Anything else Al also the fat content right Is it
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better The nutritional the nutritional information very good Though in some
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places depending on the country that may be compulsory voluntarily depending on the brand size that may has some
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flexibility but in Europe it is uh mostly compulsory for all the good products So yes and you're all
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forgetting something very important How do you identify a product Name Yes we
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need to know the name That's mandatory So and then we have some other things
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that are voluntary Here we have for example the nutri score clean labeling schemes third party
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certification What do I mean by third party certifications Who could give me an example
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Fair trade Fair trade Mhm Very good Vegan Mhm Very
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good Forest certification Yeah The forest certification Very good And you
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see organic here is it's in kind of in the middle It's not completely mandatory
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but more and more um more and more uh companies are making it uh sorry
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governments are trying to make it um mandatory So what about the explicit
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explicitness That's the tongue twister So what is
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what do we mean by this The label is explicit or not explicit
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You can give me examples if you want By the way this is a typical exam
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question B is I'm telling you And you see my beautiful
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signals here Yeah describe the product For example um 23
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grams of sugar Yeah perfect Yeah very good How explicit label is how
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much there it says information detail how much information it's giving me So you
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already said one that would be of low or high explicitness
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Aren that would be very good Very explicit Very good And
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what about one that would be not explicit at all A label that would be not explicit Not really
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Um like it contains sulfite but they don't
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actually mention like the percentage of sulfite in wine for example Okay that
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would be medium because you know you have the word of what it I mean it's containing something It's telling you
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something but it would be medium kind of explicitness some others you've already mentioned
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some uh there is another certification UTC
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the it's like we only know the we only
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see the letters UTC but we don't know what is the meaning of that very good
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yeah okay you're going closer to the lower point and what's one of the low
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like there's unless you know the label
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you have no idea what is talking about or well you have some signaling but they
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don't say what it is about uh you mentioned this example about be
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friendly or something there is one it's literally a bee yes exactly there is one
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and there's another one you all know this one what do you see here it's
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organic yeah I knew but because you are educating there here you see we see
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information symmetry if I give to my niece She has no idea What does she say
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It's a leaf But we do have some kind of signaling We know that it's a green background It's a
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leave It has some kind of information but it's not explicit at all Right
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Yeah And the nutri would be here And this is the labeling from the UK It's
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the traffic light And it's more because why is this one a little bit further to
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the right compared to a nutri score Why is the traffic light closer to higher
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It has more information Yeah very good It tells you it has three grams of fat
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1.3 it's 4% of um your daily requirement
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whatever And here comes a question What do you think
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do you think I mean what would be easier for people to
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understand or let's do the following what happens I'm going to make you think
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so what can happen with the understanding
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of these labels and different population groups it's like this this question is
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very open you have to figure it out So I'm telling you what can happen with the v variation between this labels and
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different population groups
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You need Oh you go ahead Yeah go ahead No Yeah
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come on Okay Uh you need to be somehow educated about the labels Very good It
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goes together with if you have more of you have a higher access to information
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in terms of you've had in your life you could interpret certain labels more than
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others So these are much more simplified labels These ones are more complex So we
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always have to try to figure out which type of population group we're trying to aim and what are we going to deliver
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Yeah To be fair this in the beginning was to post this labels when they just
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came Oh I love your cuts When they just came out they were trying to help the
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population make healthier decisions But what Leon brought is really one of
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the problems we saw It's too much information There's information overload So we had to try to find some kind of
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middle point And that's how we ended up with the battle of labels Yeah
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Last time last one Oh okay Sorry I passed them too too fast But how
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standardized a label is will also be a
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I mean it will condition several things It will condition the type of
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information that's given how well the information how trustworthy information is and also yeah the population groups
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that they're going to have an effect on So we have low standardization is what we were talking the bees the vegan
40:26
vegetarian sugarree what do you mean sugarf free are you talking about free sugar or you talking about extra sugar
40:34
you know it's not standardized there is not really a strict regulation of what will be called sugarf free or not and
40:41
these ones are the ones that are very standardized so they are said only in this situations you would call this or
40:50
you would say Here you have to put 100 know 50 grams of protein per 100 grams
40:55
It always has to be per 100 grams and always proportionately This is very standardized I hear the
41:03
nutri score and uh traffic light they are a little bit on the middle Um yeah
41:09
it depends They are getting more and more stricter They are trying to make them very standardized so there's not a
41:14
lot of doubts And the key of all the animal welfare is also in the middle So now
41:22
nutrition nutritional labeling I want someone of you one of you to tell
41:27
me about this labels and one of you let me see if I see you is working on this
41:33
for the presentation come forward and tell me about labels
41:38
now you know it's as always is it Daniela I think Della you were working with this
41:46
yes I knew Now tab but just a general idea what do you think about nutritional labeling
41:53
Yeah the nutritional labeling are the vine that is in the front of the package
41:58
where you cannot for example like hiding sugar so you know that that this product
42:05
has a lot of sugar in it So you have the decision to bite it or not Okay Very
42:12
good Did you all hear it is partially
42:19
Yeah Okay Danella please repeat it
42:24
Okay So the nutritional lavender are in front of the package So in front of the
42:31
package of the products that you're buying and has a spinal it could be for
42:37
example as my presentation has a octagon So it's the has a like high in sugar So
42:44
it mean has a lot of sugar and you have the decision to buy it or not
42:51
Perfect Thank you very much Anella So what she was saying is we have a type of
42:57
nutritional labeling is the octagonal warning label So these labelings usually
43:03
are they're called frontto pack labeling And we have several types We have the octagonal warning label which is the one
43:09
Danila was describing We have the health start rating label the traffic light in
43:15
nutri and the nutri score Yeah In octagonal label we have we have
43:21
octagonal shapes that say okay this product is high in saturated fats high
43:27
in sugar high in sodium They are telling you compared to the recommended amount
43:32
this product is high on this micro or mac m macicronutrients Yeah
43:40
we had the health rating star So if we just look at these two what do you think
43:45
in terms of explicitness Which one is more explicit than the other
43:52
It's more explicit Very good The health start rating is okay
43:58
It's three stars and a half But what are you telling me in terms of what it has
44:04
It doesn't It's not trying to tell you anything about what it actually has It just tells you it's an okay product to
44:10
have an okay to good Then we have the traffic light So if we
44:16
are comparing the traffic light with the octagonal shape which as is more explicit
44:24
The traffic light Very good Exactly And in a traffic light they're
44:31
usually telling us okay if a product has two um two red if it has two red um
44:41
two red sections or more you shouldn't consume large quantities or you
44:47
shouldn't consume it often Yeah But both of them are highly standardized Just so
44:52
you know you always have to think when you're looking at a label is on those three categories I told you about They
44:57
are very standardized It's there's not a lot of room for creativity in there If
45:03
it has this characteristics it goes with the label or if it doesn't or it goes with this characteristics The nutri the
45:09
nutri is what they call I mean it's the opposing label to the nutri So the
45:18
nutrium is mostly supported in Italy and Spain and Portugal partially and the
45:25
nutri score is more supported in the Netherlands France above all uh partially in Belgium here in Germany So
45:33
these ones are kind of the let's say the two well these three are the ones that are
45:39
the three labels working in Europe And here we see that the neutri scorecore is even less explicit than this one and
45:46
less explicit than this one So what happens with dedicate I mean who could
45:51
tell me a little bit about um our final intentions for example with the exagonal
45:57
shapes What do we want to what are we signaling with this shape with this hexagonal labels
46:04
Are we telling people oh this is healthier or what are we telling them No it's a
46:12
warning Very good
46:17
Continue Continue Sorry For example if it's high in saturated fat sugar sodium those things are the
46:25
things you don't want to enter in your body So it's more like you have to pay attention to this occasional language
46:32
Yeah So it's a warning of the things that are you don't want in your body
46:38
Whereas with the nutri score we're just more talking about okay we recommend you to have this or we don't recommend you
46:44
to have this It should be a little bit more informative Similarly with the nutri is linked to your average caloric
46:52
consumption daily caloric consumption but depending on the population you're going to tackle the type of label link
46:59
scheme that you would try to use For example these ones are very highly used in Latin America Now they're starting to
47:05
try they're trying to introduce them in Southeast Asia but it's very raw And we
47:11
know that we have a at least talking about Argentina Mexico uh Chile because
47:18
those are the ones that I've been reading the last papers on So sorry for the rest guys uh but we do and most of several Latin
47:26
American countries struggle a lot with obesity and overweight in a population with lower education So we want these
47:34
warning labels that are relatively simple and we want to stop the population from consuming this product
47:39
Yeah kind of clear so far Yep All right good So uh now just going
47:49
a little bit closer Well not even to the end but almost there guys Um we have
47:55
several European food quality schemes right So we have the protected
48:00
designation of origin What does it mean That the product names registered as this the PDO are those that have the
48:08
strongest link to the place in which they are made to the actual physical
48:13
place where they are made So if I'm talking about protected designation of
48:18
origin the origin of that product is very very characteristic and it's going
48:25
to be the protagonist of this product which could be an example of a product that would have such a label
48:33
It's in the place where they are made is very important Sorry wine maybe or cheeses Cheeses or wine Wine Yeah
48:41
there's a specific type of wine that we usually use at least in my family for
48:47
New Year or Christmas Not we don't because it's too expensive but it would be a typical champ
48:57
Yeah Um because only uh wine produced in
49:03
Champagne Champia can be named as a Yes
49:09
Perfect Exactly So it's made in Champagne and it can only have that name
49:16
if it was native There's another one and it's a Spanish one It's another product
49:22
What else Which other product could have such a uh yeah designation
49:30
Spanish Okay
49:36
So it's only from Parma You can only have it if it's that specific one Yeah
49:44
So now we go with the second one Protected geographical indication
49:52
So here we're talking about names of food and agriculture products that have
49:57
a specific geographical origin and possess quality reputation characteristics or attributes from that
50:04
origin it the product that will have this label has to have at least one
50:09
stage of the production of the products production processing or preparation in
50:15
the designated area Yeah this one is a little bit more complex but it mainly says that at least for example if we
50:22
have to run the eleante this to run has to if we are calling it to run alante at
50:28
least part of the processing preparation production must be done in that region
50:37
Yeah it has to do with the product
50:42
characteristics and one section of the process has to be
50:47
done in the region And then the final one is traditional specialty guarantee
50:53
and this one has to do more with the yeah what the name says it the
50:59
characteristics of like the traditional characteristics or aspects of the product itself maybe the ingredients
51:06
that are used Um and examples of this this one is a little
51:11
bit let's say the less strict of the three And examples for this would be for example mozzarella
51:18
you know it mozzarella If you're calling something mozzarella has to be done with
51:24
this characteristics with this type of recipes you know at least this proportion of things And the other one
51:31
is is some Hamon Sarano also it's not we're not talking about a region
51:37
specific we are not talking about part of the process being done in this place
51:42
in a specific place but we're talking about the way in which it was made in really yeah
51:52
kind of clear Yep Good Yep
51:59
I love Anna gives me the go Um so now to wrap up
52:06
how do we assess labeling as a tool for to reduce information asymmetry Well we
52:12
do like labels because they help consumers in their purchase decisions because they can increase awareness
52:19
about environmental issues or problems They can increase awareness about nutritional characteristics of certain
52:26
products We do like that about label labels Um the standardization of the
52:31
label format can reduce the cognitive cost of uh extracting information and
52:37
again this goes with reducing information asymmetry We will talk about this a little bit further or I tell you
52:43
to but uh there is a downside to this
52:49
What yeah I will not go forward Um and then labels can improve the image and or
52:55
the sales of the company So you can always say that the label is really um
53:00
you're showing off something about your product that can give you a competi competitive competitor advantage Yeah
53:09
But there is um certain field of tension in labeling and
53:15
that we can increase inequality
53:21
The standards of the label is can be is known only vaguely and the impact of the
53:26
standards on the issue address is not known So basically we sometimes
53:36
the if you have the same product that has two like one has a label and the other one doesn't So it's not completely
53:45
you don't you cannot perceive it completely uh and you can interpret for
53:51
example in my case I cannot eat gluten so if there's someone and I always look
53:58
for the for the product with a gluten-free label but if someone sees the glutenfree
54:05
label I mean I will ask any of you if you see usually I've encounter a lot of
54:10
Germans but if you see a product that you wanted to but it has a gluten-free label Do you What do you think about it
54:19
Let's say a bread and you found one with a gluten-free label Maybe I'm anish but I'm happy You're
54:28
happy Oh that's so nice Anna a lot of people think that maybe it has less quality because it's gluten-free doesn't
54:35
have wheat so the perception can be inadequate And the final thing that's
54:40
what I really wanted you to remember for next class is information overload What do I mean with information overload guys
54:49
That now there are many labels and for example in a product can be a lot of
54:55
labels that finally the consumer doesn't know about all the meanings of that So maybe
55:03
he will decide by a simple product without all that that can be false that he doesn't know
55:11
if it's true or if or it's false Very very very good Mara Really good That's
55:18
it We struggle if we are overloading people We we end up in the label jungle and we've been discussing it since class
55:25
one and that is a downside to labeling So
55:32
yeah this is pretty much all the things I really wanted to to share with you
55:38
today and as always I'm very thankful for the enthusiasm of discord Everyone is so part like participates a lot So um
55:46
yeah I'm very happy with this questions regarding this topic or regarding yes go
55:52
for it So uh signaling is one of like uh methods how producer can uh like u share
56:01
the information right Labeling is like a specific way how companies can signal
56:09
and then also uh the question is that the name is it also a label name of the
56:15
product like product name or is it different uh signal No the name is not
56:22
going to be a label No no I mean the name is going to be it can communicate
56:28
some kind of s It it does it's like Coca-Cola will give you some it will I
56:34
mean you have how do you call it uh brand awareness and and brand trust like
56:41
a specific brand will be more trustworthy So it does signal thing to the consumers but it's not a label No
56:47
the name is I mean it's not a if you it is part of so
56:53
you it's part of the like the things you will see but
56:59
yeah so yeah I mean label for example
57:04
labeling in this way then all information that we see on a product
57:10
related to the characteristics of the product in a way yeah like but food labeling that's what I meant but food
57:16
labeling It's going to be just the things that are related to the food itself That's what I wanted to say
57:23
Okay Like to the product itself like the grams the nutritional information
57:30
the so the vegan not vegan but those are food label but sometimes you you know
57:38
there there is also overlap in the product name Yeah Um for example uh
57:44
alternative protein plant-based uh like dairy products they are cannot be can be
57:50
named as milk for example or other in other in some countries and for example
57:57
they use instead of milk they use like MLC like they they miss one letter and
58:04
it's like already kind of name but people can understand that this is a h
58:10
but that's exactly what they're using like That's the signaling they're using but that would not be itself food
58:16
labeling Do I Does it make sense Yeah Okay I got I mean and that's key And you know why
58:22
that happens right Because if you say that this product is going to be milk it has to have the characteristics of milk
58:30
It has to have at least this proportion of fat has to come from an animal So
58:35
that's why they have to change it because it goes against the food regulation laws So um yeah that's it
58:47
Thank you very much for your question
58:52
Anyone else
58:59
Did you understand like the three different characterizations of labels
59:06
They're explicit or not They're simplified
59:11
Not Yeah Yeah Okay that's good Uh okay
59:18
Nice Oh someone please always open your mask It's fast Oh perfect Thank you Mara
59:23
Um all right So I will just stop sharing
59:29
And now that we are more people does is there any of you that didn't register
59:36
for the presentation
59:42
Good No one Glad Great Because all the slots are have been taken
59:48
Uh good Next time on Monday I will
59:55
unfortunately I I will leave you with a recorded lecture
1:00:00
I have I have a meeting and I really cannot uh go around it But I will leave
1:00:06
the record lecture But please text me send me emails You know that I try to
1:00:12
reply as fast as possible with the questions with doubts Please look at it
1:00:17
on Monday during the period of the of the class and then text me if there's something that's not clear Yes
1:00:28
Yes Some thumbs up Okay
1:00:34
All right Good And I talked with Johannes Ah yes and and that's Anna
1:00:41
because you you asked that last time and we've agreed and he has confirmed We
1:00:46
will not make you do the presentation if there's going to be a an extra day That would be after not on the week on the
1:00:53
day after you you submit Okay So you still have to submit on the
1:00:59
second and the presentation start the week after this
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