When doing store critiques, I have seen this tactic used many times. For example, one customer was selling handmade beaded earrings. Her title read:
"iPod Nano Wii Playstation 3 earrings LOOK"
This is a waste of your time and the customer's time. Not only is she driving customers to her listings who aren't even interested in earrings, but she isn't even targeting customers who might actually be interested in buying her product. eBay gives you 55 characters for your title - use them wisely to attract potential buyers to your listings. What good does it do you to have hundreds of page views, if the customers are searching for a product that you don't even offer?
Another example is using inappropriate brand names to describe your item. I see this one often:
"Homemade candle pillar like Yankee Candle gardenia"
This seller is using an established brand name to drive traffic to his counterfeit item. There is nothing wrong with selling homemade candles, but a seller cannot claim they are "like" an established brand name - that description is subjective and the seller's personal opinion. Stick with factual information only. You don't want to manipulate your buyer into purchasing something, and then be dissatisfied and leave you negative feedback.
Abuse of key words can lead to:
Listing cancellation
Limits on account privileges
Account suspension
Forfeit of eBay fees on cancelled listings
Loss of PowerSeller status
Spend a few minutes taking eBay's tutorial on Search and Browse Manipulation
Happy selling!
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