Understanding Scarcity in Marketing

Front

What is the sociological term used to describe the fear of not being able to obtain a product due to perceived scarcity?

Back

Scarcity

Front

During the COVID-19 pandemic, what were people primarily rushing to buy due to perceived scarcity? Options: Electronics, Food and hygienic supplies, Clothing, Furniture

Back

Food and hygienic supplies

Front

Which marketing strategy involves creating a sense of urgency by limiting the time a product is available?

Back

Urgency in a short period

Front

What is the term for products that are labeled as high-priced and exclusive, making them desirable for their status?

Back

Luxury goods

Front

What is the effect on consumer motivation when a product becomes more popular and widely available?

Back

Motivation decreases

Front

Which type of scarcity is often used during sales campaigns like Black Friday?

Back

Urgency in a short period

Front

What is the psychological fulfillment consumers feel when they purchase a product at a significant discount?

Back

Happiness

Front

What is the logic behind consumers buying a product that is perceived to be in short supply?

Back

The product is in high demand, so it must be good

Front

What is the term for a product that is a limited edition and only has a few copies in the world?

Back

Rare product

Front

What do marketers emphasize to induce the "fear of missing out" in consumers?

Back

Key factors of scarcity