What principle of persuasion refers to creating urgency to encourage purchase decisions?

The principle of persuasion that creates urgency to encourage purchase decisions is based on the concept of scarcity. Scarcity is the idea that people place a higher value on resources that are perceived as limited or in short supply. When consumers believe that a product is scarce, they are more likely to act quickly to secure it before it is no longer available. This sense of urgency can drive customers to make faster purchase decisions out of fear of missing out on an opportunity.

This principle is often employed in marketing strategies, such as limited-time offers, exclusive sales, and low-stock notifications, all of which capitalize on the perception that a certain product or deal won't last long. By highlighting the limited availability of a product or service, marketers can effectively increase its attractiveness and prompt immediate action from consumers.