Scarcity Marketing Quiz

What is a common psychological principle that scarcity marketing relies on?

• People value items that are inexpensive.

• People value items that are abundant.

• People value items that are easy to obtain.

• People value items that are perceived as scarce.

Which feature of scarcity marketing involves creating urgency through limited-time offers?

• Exclusivity

• Social proof

• Time sensitivity

• Limited quantity

Which feature of scarcity marketing involves showcasing the popularity of a product within a community?

• Perceived value

• Exclusivity

• Fear of missing out

• Social proof

How does Nike create a sense of urgency with its SNKRS app?

• By offering discounts on all products

• By releasing limited edition sneakers with countdowns

• By providing free shipping on all orders

• By offering a loyalty program

Which company is known for using online flash sales to create scarcity for its products?

• Sony

• Samsung

• Apple

• Xiaomi

What tactic involves offering a small number of items at a discount for a short period?

• Countdown timers

• Flash sales

• Limited edition products

• Invitation-only events

Which tactic involves displaying timers to indicate when a promotion will end?

• Pre-order campaigns

• Countdown timers

• Flash sales

• Membership models

What is a potential risk of overreliance on scarcity marketing?

• Improved brand reputation

• Higher production costs

• Difficulty transitioning to other strategies

• Increased customer loyalty

What can happen if customers feel manipulated by artificial scarcity?

• Customer frustration and resentment

• Positive word of mouth

• Increased brand loyalty

• Higher sales

What is a legal concern associated with scarcity marketing?

• Higher customer satisfaction

• Deceptive or unfair practices

• Increased production costs

• Improved brand image