Steve Jobs, CEO and marketing brainiac behind the Apple brand, knows how to promote like nobody else on earth. A list of technology products powered by the Apple brand reads like a who's who list of "must have's" for the twenty-first century. The undisputed fact is that Steve Jobs products work because he manages to tap into the cult of cool, but is there something else at work here? Maybe a basic marketing strategy that insures the latest iteration of iPod, iPad, iPhone, or Mac computer all but fly off the shelves?
It's all about limiting supply to increase demand. It's no big surprise that Apple realized that "running out" of product every once in while sends demand through the roof. Thus was born the waiting list. "Your iPad will be ready in three months."
It's this same tactic of limiting supply that drives the unique style of real estate auctions at Open Door Auctions in Irvine, CA.
Think about it like this. What does the average real estate agent do to sell houses? He holds open houses ad infinitum until everyone in the county with even a passing interest in buying a house has already traipsed through yours a few times, liked it, didn't like it, became bored and moved on to the next one.
Nothing wrong with the house (probably). You've just seen human nature in action. We yearn for the new thing and don't mind paying more to get it, but we also grow weary of something quickly. That's why our tactic of limiting the open house process with the properties we list is so effective at drawing more bids. It might not be accurate to say that interest is at a fever pitch level in every case but it has a darn better chance than the typical overexposed traditional real estate listing.
When it comes to generating buzz and word-of-mouth, overexposure is the enemy. Ask Charlie Sheen. Not so long ago people thought he was actually sane. We like the way that Apple thinks. Underexposure is the key to increased profits.
Thoughts?
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