The limited-edition or what they call "Scarcity Marketing": propaganda or a promotional strategy through "FOMO" thinking

Abdul Wahid, Nur Kamariah and Wan Husain, Wan Rohaida (2023) The limited-edition or what they call "Scarcity Marketing": propaganda or a promotional strategy through "FOMO" thinking. IIUM Journal of Case Studies in Management, 14 (2). pp. 49-52. ISSN 2810-2327 E-ISSN 2710-7175

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Abstract

The case describes the phenomenal element of scarcity marketing effects on customers' purchase intention. It is a concern as nowadays it has started showing some elements of customer exploitation due to their level of innocence that is easily driven by the mentality of "Fear of Missing Out", FOMO. Guided by the recent explosions in sales shown by McDonald's in 2021 upon their collaboration with BTS K-pop Boys Bands from South Korea, the case is intended to bring into perspective how customers and marketers need to honour the holy relationship between marketers and customers by ensuring the promoted products bundled with the commensurate amount of value as promised, not merely because of its being scarce or limited or because of the influencers' ability to influence.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Scarcity marketing, promotional strategy, consumer behaviour
Subjects:	H Social Sciences > HB Economic Theory > HB201 Value. Utility H Social Sciences > HB Economic Theory > HB238 Competition. Production. Wealth H Social Sciences > HB Economic Theory > HB801 Consumption. Demand H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5387 Business ethics H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5410 Marketing. Distribution of products H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5437 Purchasing. Selling. Sales personnel. Sales executives H Social Sciences > HF Commerce > HF5475.I74 Halal business, entrepreneur, marketing, management, and administration H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5801 Advertising
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences Kulliyyah of Economics and Management Sciences > Department of Business Administration
Depositing User:	Dr. NUR KAMARIAH Abdul Wahid
Date Deposited:	15 Aug 2023 14:28
Last Modified:	15 Aug 2023 14:28
URI:	http://irep.iium.edu.my/id/eprint/105960

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