Abstract
Research in marketing often begins with two assumptions: that consumers are able to choose among desirable products, and that they have sufficient resources to buy them. However, many consumer decision journeys are constrained by a scarcity of products and/or a scarcity of resources. We review research in marketing, psychology, economics and sociology to construct an integrative framework outlining how these different types of scarcity individually and jointly influence consumers at various stages of their decision journeys. We outline avenues for future research and discuss implications for developing consumer-based marketing strategies.
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Notes
Although we discuss materialism in the context of evaluation of alternatives, we note that materialism is an individual difference variable that may influence all stages of the decision journey. For instance, materialism can influence the options that people are more likely to consider, the way they process information, the choices they make, and their feelings and actions during the consumption stage.
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Hamilton, R., Thompson, D., Bone, S. et al. The effects of scarcity on consumer decision journeys. J. of the Acad. Mark. Sci. 47, 532–550 (2019). https://doi.org/10.1007/s11747-018-0604-7
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DOI: https://doi.org/10.1007/s11747-018-0604-7