Law of Scarcity

"Necessity is the mother of all Innovation" 

Well this is one line that i graduated listening and believing to, we were always told that and product or service sold to a consumer has to have a unique offering and only then it would be a success. 

Well it was a simple enough a bargain and rightly so you a create something new that people want and bingo people lap it up. 

But when was the last time we were exposed to a real good innovation .. Mobile Phone i guess. Innovation is not something that we churn out everyday (although we all do have a great track record on innovative excuses to take a day off). So what marketers do.

Marketers in the new age depend heavily on the power of marketing as someone rightly said "Marketing is a art of selling a comb to a bald guy" well that's really true and most of the brands today are a ME TOO yet they are successfully. So life is good business is successfully and we are all happy.

But in today's day and age where the consumer is cluttered with messaging thru multiple media how do we stand out and get noticed .

But what if success is just not good enough and what you seek is BLOCKBUSTER.

Well the latest marketing trick to move from hit to blockbuster is "Law of Scarcity"

When the category is new/few and demand is high its innovation but when category is old yet the product is few its called scarcity. 

Yes Scarcity, remember the time when you had just got comfortable with your first email id (i still remember mine was a yahoo id) Well it was a great service provider with its own messenger where you could chat with your friends anytime anywhere then what happened suddenly when GMAIL was launched.

It was new hardly people knew about it and most of all the entry was by INVITATION only and guess what that was the trick everyone i knew wanted to know if we had a invitation or not and if yes we really begged that we could be 1 among the 50 invites. Today 8 years after its launch it has the largest user base , not taking away anything from the product itself but that had something to do with it.

Recently i met a friend who was proud owner of Xiaomi Mi3 and he said it was a proud owner and rightly so he was 1 of the lucky 25000 out of over a billion people to have had a chance to hold that.

From a not known Chinese company to a sought after brand the transition was overnight.

So from Paper boat selling exclusively on Indigo to Exclusive product preview for P&G Moms to One Plus phone by invite only it works every time so Scarcity or Exclusive the way marketers would put it is the new mantra of today.    

So if you are one of me who so AIB roast or the BBC documentary on YouTube you would agree that fact it was banned and scare to find added to the mystry of experiencing.

So if Necessity is the mother of all innovation it can be safely said that Scarcity could be the mother of all Blockbusters.

Cheers,

aryanomics.blogspot.in