Definition: 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. |
More on consumer theory: Consumer Decision Journey, Customer Value, 30 Elements Of, Customer Variability, Mental Accounting, Substitute, more on consumer theory... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic. |
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