Scarcity Marketing

B2 – Upper Intermediate

FOMO is an internet slang that stands for ‘fear of missing out’. It’s one of the most fundamental instincts people have and this is what businesses capitalize on as a tactic in order to create artificial scarcity so their products would be of greater value to consumers.

Watch this video to learn more about scarcity marketing and consumer theory.

Discussion Questions:

  1. What is scarcity marketing and how does it work?
  2. What’s your impression of this marketing strategy?
  3. Why do you think this works?
  4. Talk about advertisements/brands that use this marketing strategy.
  5. What other marketing trick do you know of?
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