An Empirical Analysis of Scarcity Strategies in the Automobile Industry

An Empirical Analysis of Scarcity Strategies in the Automobile Industry

Recent product introductions such as the Xbox 360, Sony Playstation 2, and PT Cruiser have been characterized by shortage of these products. Some experts have suggested that such scarcity can be a deliberate strategy for making the product more desirable. In this paper, we empirically examine the re...

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Veröffentlicht in:Management Science. - Institute for Operations Research and the Management Sciences, 1954. - 55(2009), 10, Seite 1623-1637
1. Verfasser: Balachander, Subramanian (VerfasserIn)
Weitere Verfasser: Liu, Yan, Stock, Axel
Format: Online-Aufsatz
Sprache:English
Veröffentlicht: 2009
Zugriff auf das übergeordnete Werk:Management Science
Schlagworte:marketing new products competitive strategy signaling econometrics aggregate logit models economic theory testing Economics Applied sciences Business mehr... Mathematics Behavioral sciences Information science
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520 |a Recent product introductions such as the Xbox 360, Sony Playstation 2, and PT Cruiser have been characterized by shortage of these products. Some experts have suggested that such scarcity can be a deliberate strategy for making the product more desirable. In this paper, we empirically examine the relationship between introductory inventory levels and consumer preference in the U.S. automobile industry and show that relative scarcity of a car at the time of introduction is associated with higher consumer preference for the product. Furthermore, we perform an empirical test of alternative theories about the rationale for introductory product scarcity. Specifically, we consider two theories of supplier-induced scarcity, namely the buying frenzy theory and the signaling theory, and an alternative theory that suggests that demand uncertainty causes introductory product scarcity. We find more support for the signaling theory of supplier-induced scarcity than the buying frenzy theory or the demand uncertainty theory in our analysis of the automobile market. 
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