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Sarah Daghman Lecturer, Russian Federation
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🔥 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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Anonymous
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Scarcity Marketing
Thanks for the nice summary of marketing based on (...)
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Anonymous
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Poor Grasp of Marketing
The phrase, "Scarcity Marketing", summarized by Sa (...)
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Anonymous
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Scarcity Marketing is a Tactical Sales Approach
I would say that "scarcity marketing" is not marke (...)
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rustenburg Business Consultant, Netherlands
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Scarcity Marketing is a Choice of Marketing Strategy
Generally you can divide needs in 3 types of needs (...)
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