The use of Hunger Marketing in Economy—Based on Apple and Xiaomi

Abstract

As the market economy gets increasingly competitive, companies have investigated a range of marketing tactics. Among these, hunger marketing is a very effective strategy used by many businesses, including Apple. In order to enhance sales, many sellers have begun to follow suit. Simple limitations on the quantity of items sold, however, are not always effective. This paper lists the different types of hunger marketing and psychological elements that contribute to the effectiveness of it. The article also analyzes the similarities and differences in the use of hunger marketing between two cell phone companies--Apple and Xiaomi. It is discovered that both businesses use pre-order systems and reduced their stock to give customers a stronger sense of urgency. However, Apple and Xiaomi are positioned differently when viewed by customers. Apple is a high-end product, and although it is priced high, the company's outstanding brand image allows it to successfully utilize hunger marketing to boost sales. Xiaomi, on the other hand, promotes cost-effective pricing. When using hunger marketing, in addition to limiting the amount of time and products available, Xiaomi also provides discounts and reduce its pricing. This has also made it possible for Xiaomi to effectively harness the power of hunger marketing to boost both sales and customer loyalty. However, due to a weak brand image and a lower position in the market, Xiaomi’s use of hunger marketing is not strongly effective as it is for Apple recent years.