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INNOVATIVE TECHNIQUE OF PRODUCT SCARCITY IN THAILAND’S MARKET: CAN THIS MARKETING STRATEGY IMPROVE SALES PERFORMANCE IN THE CRISIS OF COVID-19?
INNOVATIVE TECHNIQUE OF PRODUCT SCARCITY IN THAILAND’S MARKET: CAN THIS MARKETING STRATEGY IMPROVE SALES PERFORMANCE IN THE CRISIS OF COVID-19?
Nabhassorn Atchariyakarn
Ph.D. Student, School of Management, Huazhong University of Science and Technology
Wuhan, 430074, P.R.China
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Jing Zhang
Professor, School of Management, Huazhong University of Science and Technology
Wuhan, 430074, P.R.China
Corresponding Author E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Abstract
A product scarcity is a one of marketing strategies to simulate the consumer’s needs and purchase decision. The crisis of COVID-19 has spread throughout the world since December 2019 and no vaccine is yet produced. This pandemic affects the operation of many businesses and economics of countries. This paper shows the innovative technique to improve the sales performance in the crisis of COVID-19. The product scarcity is the technique by using regret theory. Moreover, the comparison of sales performance before and after applying this marketing strategy is retrieved to provide the difference in sales performance.
Key Words: Product Scarcity, Marketing Strategy, Sales Performance, Innovative, COVID
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