The Scarcity Principle

When a resource is scarce it is considered valuable. Gold, for example, is a relatively scarce metal and hence we consider it valuable and precious. You can use the scarcity principle as an influencing factor in your negotiations with others. It is a common marketing tool to use deadlines; "offer only valid to...", or "while stock lasts". Give some thought to how you can apply scarcity in dealings with your customers.