Asked by Adeel Humayun on Apr 27, 2024
Verified
Why are limited edition items appealing to consumers?
Limited Edition Items
Products manufactured in a restricted quantity to increase appeal through exclusivity and scarcity.
Appealing
Having an attractive or interesting quality that draws attention or desire.
- Examine the effects of scarce availability and exclusivity on the appeal of a product.
Verified Answer
LC
laury castrillonMay 01, 2024
Final Answer :
A good answer will highlight the principle of scarcity. Items become more attractive when they are less available. In one study that asked people to rate the quality of chocolate chip cookies, participants who only got two cookies liked them better than those who got 10 of the same kind of cookie. That helps to explain why we tend to value "limited edition" items.
Learning Objectives
- Examine the effects of scarce availability and exclusivity on the appeal of a product.