How To Use The Principle Of Scarcity In Marketing Campaigns
What is the principle of scarcity?
In psychology, the Scorpio principle describes the desire to buy, accumulate, or acquire something that a person may not be able to acquire in the future. Part of that intention is to make sure that what we have needs to survive. We also value the rare things that we may not have, but the principles of happiness also pay attention to the need to control ourselves. Achieving something that makes it difficult, that we demonstrate the ability to control our environment. They need to overcome this is not only selfish but also “stick with Jones”.
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In post-war Japan, importing diamonds was illegal until 1959. Diamonds were not highly valued by the Japanese. Because giving a diamond engagement ring was not part of the Japanese tradition. But in 1968, Japanese magazines flooded with advertising campaigns featuring Caucasian women wearing diamond rings. The message conveyed in the advertisements was that women with diamonds are a manifestation of Western wealth.
Controlling Supply And Demand Accelerates The Principle Of Scarcity:
Diamonds are not rare. The number of diamonds in the market at any given time is carefully controlled by only a handful of companies. Including De Beer Company. These companies buy most of the diamonds and then control their availability. By making it difficult to buy diamonds, although rare in nature, they have become even more desirable.
This smart and sophisticated marketing drive has worked since the 1960s, but the diamond industry has taken the move one step further. To prevent diamond owners from reselling, this will reduce demand as more diamonds become available. Large-scale advertising campaigns continue to associate diamonds with romance, emotion and resell privately owned diamonds in an effort to curb the slogan “diamonds are forever.
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Simply controlling the number of available products does not mean that there will be a higher price or higher sales volume. Retailers know this and limit the number and type of items on sale at any given time so that the sales themselves do not look so common.
Sales of this “limited” can be seen in advertisements, which offer phrases such as “limited time only”, “supply last time” or even by limiting the number of items that can never be generated.
Restrictions And Censorship Create Artificial Value And Stimulate The Public Interest.
Books, movies, and even video games that are banned or censored are banned. This increases the desire and interest in banning the forbidden thing. Evidence of this can be seen in the prohibition laws, which led to an increase in the demand for alcohol compared to the time when alcohol was legal.
Other examples include restrictions on government or wartime rations, music, the Internet, and the types of movies that your child has access to, and even dieters who try to avoid certain foods. When someone finds out that something is being denied to them, it usually makes them want it more.
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- The use of economic jealousy in market products
Because we compare ourselves to others. We often want what others have. Want it, or want to get something even better. Many companies exploit this desire, which falls within the realm of Scottish principle. By associating your product with specific social status for some people.
This type of advertising is often seen in high-priced luxury items such as cars, high-end travel arrangements, and housing, and even hair care products, which “cost more, but you Are able.
If you can successfully create jealousy associated with your product or service, consumers will want more of it. Especially if the item is already limited, and even a sudden increase in sales produces a painful product.