Hunger marketing
| Hunger marketing |
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| See also |
Hunger marketing is type of marketing strategy which uses deep and strong emotions of human beings, desires resulting from lack of something (i.e. food, water), which causes them to act in particular way to satisfy their needs (and to buy products which are offered using this psychological strategy). Hunger marketing disables rational decision making processes which control human behaviour and enables instincts and irrational actions. Some particular techniques used in hunger marketing is limiting available stock of product, limiting time to buy particular product, etc.
Related concepts
Rational decision making
As we know, information is the most important thing in decision making process. When we have whole collection of information, we can make rational decision. At first, we have to do the research, and later judge and calculate the bemefits. Without a bunch of the most important information, we are unable to make rational and good decision.
Emotional decision making
When we don't have enough information, we are trying to make decision based on our first impression. At first is looks like cheaper and faster option, but this decision is not knowledge-based, only emotional.
Techniques
Limited stock
It is one of the most representative and successful method of hunger marketing. Very big amount of companies unsatisfactorily supply shops in their products. Customers think, that the product is really popular and good, because of difficulty of getting it. Company could get higher reputation and artificially stimulates demand.
Time limit
Time limit is one of the most common technique, because of the direct stimuli to consumer. It can manipulate consumer through informations about length of sale, or amount of products. Sometimes companies try to attract people's attention by using special prices or discounts of the day. Because of limiting the time, people feel like there is good time to buy something, they feel like they are catching good offer and they are afraid, that they will not have time to make the purchase so they prefer to do it at once.
Special discounts
Price is one of the most convincing factors to buy an item. When we see sale, even if we don't really need the thing, we are ready to buy it, only because of the price. Influence of discounts on our counsumer behavior is very strong. We can be easily impressed and, what was proved by experience, people, who buy something with a big discount are happier than people buy something in a normal price. [1]
Analysis
- A psychological resonance
To be acceptable product need good recognition and reputation. Psychological picture in the eyes of clients is very important. Hunger marketing is fully based on artificially created need, so it is strongly connected to psychology. The most important are product's functionsl benefits, brand personality and image, emotional relationships to meet the regional market psychology.
- Operate according to your capability
Every expansion has to be based on product characteristics, human resources, marketing and channels channels. Companies have to be aware of the "uncertainty" factor. It is important to take this as a top priority.
- Promotion campaign
Motivating customers' is a really important part of ideaof hunger marketing. New listings, hard and soft ads, television advertising, radio, newspapers, magazines, and other media ads, celebrity endorsements, auto shows, authoritative guidance of professional evaluations, unified sales channels and others all have their own advantages. Companies have to choose the pest channel of reaching the market.
- Consider the situation
It's important to chase the market all the time and be aware of every change on the market. We have to remember, that informations are the most important thing, and without it we are unable to using hunger marketing. [2]
Bibliography
- Chin, S., & Chen, S., & Lin, M. (2017). The Effects of Hunger Marketing In Scarcity Products, IJBAMR Vol 3(3) Sep 2017
- Gupta, S., & Dhillon, I. (2014). Can Xiaomi shake the global smartphone industry with an innovative “services-based business model”?. AIMA Journal of Management & Research, 8(3/4), 2177-97.
- Peng, L., & Liang, S. (2013). The effects of consumer perceived value on purchase intention in e-commerce platform: a time-limited promotion perspective. In Proceedings of The Thirteen International Conference on Electronic Business (p. 56-64).
- Suchen (2017). The world of marketing "Hunger Marketing"
References
- ↑ The world of marketing "Hunger Marketing"
- ↑ Analysis: How to Do Hunger Marketing?
Author: Maja Rogalska
