One type of marketing is called scarcity marketing. Scarcity Marketing is a tactic that uses short-term, limited offers to promote the sale of products or services. This type of marketing relies on the idea of providing customers with incentives to buy a product or service before they are gone forever.
Scarcity Marketing typically involves creating a sense of urgency in order to push people into making a purchase decision. Brands will often use this as a way to meet their quotas by giving customers enough time to make an initial purchase and then showing them how much they will lose out on if they don’t buy now. Scarcity Marketing has been proven to be effective in generating sales, but it can also be detrimental for companies who put limitations on their products and services.« Back to Glossary Index