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Scarcity

Scarcity. Scarcity. People value things that are less available. Scarcity. Scarcity creates potential for loss. Fear of loss more important than possibility of gain. Home Insulation Study Gonzales et al., (1988). Cost of Poor Insulation. Savings from Good Insulation.

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Scarcity

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  1. Scarcity

  2. Scarcity • People value things that are less available

  3. Scarcity • Scarcity creates potential for loss. • Fear of loss more important than possibility of gain

  4. Home Insulation StudyGonzales et al., (1988) Cost of Poor Insulation Savings from Good Insulation More likely to insulate their homes

  5. Self-Examination StudyMeyerwitz & Chaiken (1987) Lose potential health benefits Gain potential health benefits More likely to perform self-examinations

  6. Strategies Derived from Scarcity Principle • 1. Limited Numbers: • Customer told that a particular product is in short supply • 2. Time Limits: • Customer told that there is a deadline to the sale of a product cp

  7. Why Does the Scarcity Principle • 1. Heuristic: • People use an item’s availability to judge its quality

  8. Why Does the Scarcity Principle • 2. Reactance to loss of freedom: • Scarcity makes people feel like their freedoms are reduced • Reduction of freedom produces reactance

  9. Reactance and Toy PreferenceBrehm & Weintraub (1977) • Toddlers put in room with attractive toys • One toy behind a Plexiglas sheet that was: • 1 foot high (no barrier) • 2 feet high (barrier) Toddlers made contact with toy behind the barrier 3 times faster cp

  10. Reactance and Teen LoveDriscoll, Davis, & Lipetz (1972) • The more parents objected to their teens’ relationship, the more in love the couples said they were, and the more the couples wanted to get married. • The couples’ love increased as parental interference increased and decreased as parental interference decreased cp

  11. Factors that Influence Effectiveness of Scarcity • 1. New scarcity • People are more likely to want something that has just become scarce than something that has already been scarce for some time cp

  12. Cookie StudyWorchel, Lee, & Adewole (1975) • Showed people a jar of cookies • Jar had either: • 10 cookies in it • 2 cookies in it People rated cookies as more desirable, more attractive, & more expensive when there were only 2 in the jar. They were the SAME cookies! cp

  13. Cookie Study: A Modification • Participants given jar of: • 2 cookies (Always scarce) • 10 cookies, which was then replaced with a jar of 2 cookies (Newly scarce) More positive reaction to the newly scarce cookies than the always scarce cookies cp

  14. Factors that Influence Effectiveness of Scarcity • 1. New scarcity • 2. Competition for scarce resources • People are more likely to want a • scarce item that they are competing for cp

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