Psychologists call it 'inductive discipline' and it is a suggested way to handle your pre-teen or teenage child. Inductive discipline is making the child aware of their mistake and how it affects their parents and others.
The method also calls for a response to the transgression such as, "I am disappointed in you" or "I expected more from you. I expect better from you next time." In theory, if the child cares about the relationship, it should make an impact.
Do you agree? Do you apply these techniques or something similar already? Do you still believe in spanking your child?