Hunger marketing

Published on Author Suchen

2Hunger marketing is a marketing strategy pioneered by Apple Inc. This marketing strategy is specifically focused on the emotions of human beings . Hunger marketing is a psychological strategy that focuses on the desire of consumers, making them hungry. [1] By stimulating psychology , it drives people into the business of rational decision making by driving the scarcity of the product. This marketing strategy boosts people’s interest, and through word-of-mouthcan businesses have more potential customers. Apple has been unpacked by Apple since 2007, and has been co-ordinated by Apple to global consumers, at the same time, Apple carefully polished their ultra-secretive image, all of these maximize marketing power and make people eager to buy iPhones.

Related concepts

Rational decision making

Rational decision making means what people do when they are not lacking what they need while making decisions. They are fully informed and can research their choices. Usually, people try to buy and buy the best items, and for that, they think, judge, and calculate the benefits, price, and many things that are important for the deals. [2] At this point, if people make rational decision making, they can do it better.

Emotional decision making

In contrast to rational decision making, emotional decision making. Because people get attracted by many stimuli, they make decisions without being careful. Also, they are lacking of information of alternatives, time to search or calculate, and reasonable thinking. This is exactly what many businesses try to make, with more money without rationality.

Techniques

Three representative techniques of hunger marketing are described below; Limited stock, limited time and special discounts.

Limited stock

Limited stock is the most representative technical of hunger marketing. It is also one of the strongest causes, which affects consumers directly and most powerfully. Many companies have not supplied their items adequately. Because it is hard for consumers to buy and buy the product, they think that the item is really good and popular. As a result of this strategy, the companies could get higher reputation of their items. Xiaomi has a strong strategy to supply their items that they can do well. [3]Also, they can get increased demand. By restricting their supply, they could make a product of their product, because the product is a good product. couple of minutes makes people think that the item seems really amazing. [4]

Time limit

Time limit is the most common technique of hunger marketing. Time limit is also huge because it is one of the direct stimuli to consumers. It is used in many home shopping and internet shopping sites. QVC, one of the largest home shopping website, “Ends in time”, which is limited with a comment, and “Today’s special value” in order to attract consumers’ attention. Also, “almost sold out!” Or “we are about to terminate selling! In a minute! “Is a how often used in home shopping sites, and it stimulates customers’ interests. “The time limit for this product,” or “Only 10 items left” is the case that companies try to attract people’s attention as well. This time limit strategy is often used in such situations as “Only today, up to 50%.” In fact, by limiting the time of offering their products, they make consumers feel like it. this time! ”

Special discounts

Special discounts is the strongest technique of hunger marketing. Special discounts also have huge impact people’s consumption. People have experienced like, “Oh, I should buy this because it’s really cheap!”, Even though the thing is something that people do not plan to buy. It is usually happening at an outlet where people suddenly stop at TK Maxx. While web surfing, sometimes, they are attracted by special discounts. It is because consumers are really sensitive to this problem. There is a lot of research about people’s reactions, and, in order to influence consumers’ emotions, many companies try to emphasize their discounted price. People have very emotional reaction and they are easily impressed by discounts price. An experiment showed that people who get a big discount are happier than some people who could only change after the experiment. [5]For sure, people really like it, but the point of this strategy is that they tend to spend more money than they expect. Retailers strive to-have impact is consumers ’emotion, qui HAS big influences on Their decision making, and this is the reason why people Spend our money Unexpectedly after-They get free 20% discount coupon from E-bay Because The discount coupon stirs consumers’ emotion and consumption up by the most sensitive thing, which is price.

Examples

Xiaomi and Apple

Xiaomi, the third biggest smartphone company in the world, has been known for their hunger marketing, and Apple also uses this strategy as well. “Sold out in just 50 seconds!” This comment is what an article said when Xiaomi released their latest smart phone, Mi Note 2, and made more people focus on their new product. When Xiaomi releases their new items, they make the shortest time record every time they sell the new item. Their pre-registered business was bought to the best of their ability. Only for them, Xiaomi sold their product. This is how Xiaomi controls their supply. Applealso adjusts their supply to their new product at different intervals. Because of this, they could get people back to work in their country for the first time. People who get the new product from the world can see their reviews. It makes them more curious about the new item.

Black Friday

Black Friday is one of the times that people feel they need to buy some stuff. Creating the mood of shopping that people spend a lot of money [6] Many companies emphasize Thanksgiving with the big discounts they offer and try to make a lot of money, and many other things like giveaways, free wrapping or even free shipping services. As a result of this, people react to the stimuli and spend their money unexpectedly.

References

  1. Jump up^ “Hunger Marketing” . Caixin . December 9, 2014.
  2. Jump up^ “Rational Decision Making” . Boundless .
  3. Jump up^ Gordon, Scott (1 November 2016). “Xiaomi’s Mi Note 2 sells out in just 50 seconds” . Android Authority .
  4. Jump up^ “Analysis: How to Do Hunger Marketing?” . PR Newswire . July 23, 2013.
  5. Jump up^ Pappas, Stephanie (24 November 2010). “Black Friday Psychology: Why We Go Mad for Deals” . Livescience .
  6. Jump up^ Pappas, Stephanie (24 November 2010). “Black Friday Psychology: Why We Go Mad for Deals” . Livescience .