Call in now while supplies last! That's the line that is pegged onto the end of almost every infomercial ever shown on television. And that's because it's an effective line. We are enticed by scarcity. We just simply don't want to miss out.
In a study in 1975, researchers showed people 2 jars with the same cookies. One jar had 10 cookies in it. The other only had 2 cookies in it. When participants were asked which jar had more valuable cookies, they responded saying that the two cookies were of a more valuable type. Scarcity clearly played a role in determining the value of the cookies.
Similarly companies use this illusion of scarcity to their advantage. When they tell potential customers that only x number of people will get in on the offer, these people don't want to miss out on the opportunity. Scarcity makes the product seem like it's in high demand. And if it's in "high demand" it must be good, right?
In a study in 1975, researchers showed people 2 jars with the same cookies. One jar had 10 cookies in it. The other only had 2 cookies in it. When participants were asked which jar had more valuable cookies, they responded saying that the two cookies were of a more valuable type. Scarcity clearly played a role in determining the value of the cookies.
Similarly companies use this illusion of scarcity to their advantage. When they tell potential customers that only x number of people will get in on the offer, these people don't want to miss out on the opportunity. Scarcity makes the product seem like it's in high demand. And if it's in "high demand" it must be good, right?