Creating Demand
There is a reason why books are placed on a "best seller lists" and not "best written lists." Although unique ideas are valued, our society often conforms to follow the popular. We want to feel unique, but also reassured that our decisions are respected by our peers. New products and services are often marketed as a scarce commodity, before they are readily available to the entire public. Recently, Coldplay released a few songs from Viva La Vida, before the album was released in stores. The scarcity created demand for the entire album and the record sold in large quantity on its release date. This weekend, Apple released the new Iphone. Instead of allowing store preorders to create a more convenient shopping experience, Apple allowed its consumers to wait in large lines outside stores. The perceived scarcity created a large demand, confirming that the new Iphone was cool, worth the attention and purchase. Similarly, successful social networking sites use scarcity...