After reading Donald Cunningham’s blog post “Limited-Edition Products Create Marketing Buzz“, I found that this topic is so fascinating to me that I have to mention it.

Following are my comments and a few more ideas around this cool topic. Check them out!

Lamborghini Murcielago LP640 Versace Limited Edition

“Selling less helps you get more. It’s counter-intuitive, but it works.”

Have you ever bought something that was relatively expensive compared with the similar products and sometimes unnecessary or even useless to you? But your subconsciousness would encourage you to get it much greater than those normal products regardless of the high prices. Those incredibly appealing products are the so-called “limited edition” products or something “exclusive”. They are limited supplied and more expensive, however, people tend to love them more and crowd to purchase them. This interesting phenomena reveals that people tend to more value things that are rare (i.e. Gold, diamonds, vacations and winning the lottery).

Don’t you think the following limited edition products are more attractive to you, not only with their stunning looks, additional features but also their “limited” title.

Mario Special Edition NDS

Picture from: http://www.amallonline.com/nintendo-ds-lite-ndsl-red-mario-limited-edition-p-14808.html

S/S 2012  Louis Vuitton Monogram Vernis Alma BB

Picture from: http://www.esaybag.com/monogram-vernis/3356-louis-vuitton-lv-monogram-vernis-alma-bb-bleu-lagon-m91696-bag.html

ADR X H&M

Picture from: http://mirrorme.me/anna-dello-russo-x-hm/adr-x-hm/

There is a marketing strategy stem from this kind of customer behaviour, that is the scarcity strategy. It creates excitement and motivation for potential customers to make a panic purchase and greatly boost the company’s short-term profits. Interestingly, we found that people with good buying power desire to get those exclusively limited luxury goods no matter how much it takes.

Why? And what kind of things attract them?

From the marketing aspect, we can explain that the higher prices and the limited quantity or time supply of the products would create a stimulating atmosphere for customers who would perceive a higher value of the products as well as the brands, also promote the images of the brands. For those who with high status or want to be treated as high-class people, they tend to enjoy buying expensive limited edition products that as their status symbol in order to convey their unique social images to the public.

Source from: http://www.brandeo.com/scarcity%20strategy