Scarcity Marketing

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Sarah Daghman
Lecturer, Russian Federation
🔥NEW Scarcity marketing is a marketing technique based on the principle that people want what is difficult to obtain. It includes product, promotion, pricing, and distribution tactics. It can also be defined as a marketing strategy aimed at limiting supply in order to stimulate market enthusiasm and increase market demand. The central principle behind scarcity marketing and/or offering "limited edition products" is to create a sense of exclusivity among the target consumers since scarce items feel exclusive, appear more valuable, and make people feel powerful. Packhard would probably call this a hidden need for Ego Gratification or for a Sense of Power. Product scarcity can significantly influence price, sales promotions, product popularity, and purchasing behaviours. Such conditions can be deployed by firms to maximize a product's revenues and/or profits. TYPES AND EXAMPLES OF SCARCITY MARKETING Actually there are two types of scarcity marketing: Quantitative limitation: this ty (...) Read more? Sign up for free


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