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HubSpot: The Scarcity Principle: How 7 Brands Created High Demand
HubSpot just issued a engaging blog:
If you took the same Introduction to Economics class that I struggled through in college, you might remember this key lesson: The law of supply and demand states that a low supply and high demand for a product will typically increase its price. Why am I telling you about basic economic rules? Because changes in the supply and demand of products can result in the scarcity principle coming into play. In this post, we’ll learn what the scarcity principle is and how you can use it to create high demand. What is the scarcity principle? The scarcity principle of persuasion coined by Dr. Robert Cialdini means the rarer or more difficult it is to obtain a product, offer, or piece of content is, the more valuable it becomes. Because we think the product will soon be unavailable to us, we’re more likely to buy it than if there were no
Read more from the original source: The Scarcity Principle: How 7 Brands Created High Demand
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