Question
One classic example of using scarcity in negotiation is the case of a car dealership. When a customer is interested in a particular model, the salesperson might inform them that it's the last one available in their preferred color or configuration. This creates a sense of urgency for the customer to make a purchase decision, fearing they might miss out on the opportunity if they don't act quickly. This tactic leverages the psychological principle of scarcity, making the product seem more desirable due to its limited availability.
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If the other party is dragging their feet to close or commit, consider using the psychological principle of scarcity. Scarcity plays on the human need to obtain more of what we think is dwindling or may soon be out of grasp. This explains tactics like flags on online products indicating low inventory, exploding job offers and dramatic walkouts signaling a "take it or leave it now" opportunity. You can use these tactics to activate the principle of scarcity and get a deal to close.
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