You’ve witnessed it with serpentine lines for the newest iPhones.
Perhaps you’ve experienced it with craft beers like Heady Topper that are so are difficult to find that they have their own tracking websites.
And it’s common in big-city running races that sell out in hours.
The “it” is scarcity – the limited availability of a product or service in the face of extraordinary demand. Scarcity is the antithesis of most sales and marketing directives, which typically call for selling as much as you can as quickly as you can.