If used authentically or ethically, the scarcity principle can help create an awareness and demand for your product. The theory of psychological reactance (Psychologist Jack Brehms, 1966) states that when we are deprived of our freedom of choice then we react to compensate for that by trying to acquire that which we cannot choose freely to obtain. I employed this theory, albeit unknowingly many years ago but later on came across the science behind it while reading dr. Robert Cialdini's bestseller Influence - the Psychology of Persuasion. I personally loved the book and would strongly recommend it and along with it I would also highly recommend Daniel Pink's bestseller To Sell is Human.
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