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Scarcity

Objects and opportunities are found to be more attractive if they are hard to get. Scarcity is a commonly used marketing tool and adverts never stop using phrases such as limited offer, 1-day sale, or stock clearance offer. The essence of using these words is to create a perception of scarcity and make buyers believe that they might not get similar offers anytime soon. Such adverts are likely to attract more attention than those emphasizing on the premium quality of some products since buyers are not stimulated to act at that time. Scarcity seemingly adds some special value to a product that makes buyers want to purchase it at their earliest convenience. This is because of the human natural instinct of economic allocation of resources ...