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STEP 1
Approach

Last Saturday, there was a line of people waiting
for a convenience store to open. They all wanted to
buy a certain brand of chips, which was limited to one
bag per person. These chips are not the first product
to enjoy great popularity. Over the years, Korea has
seen many “open runs” for certain products. Some
people even buy them to sell them on the Internet for
many times the retail price. Companies can use this
for a convenience store to open. They all wanted to
buy a certain brand of chips, which was limited to one
bag per person. These chips are not the first product
to enjoy great popularity. Over the years, Korea has
seen many “open runs” for certain products. Some
people even buy them to sell them on the Internet for
many times the retail price. Companies can use this
marketing strategy to their advantage as demand can explode when a product suddenly becomes
popular on social networks.
popular on social networks.
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What kind of marketing strategy is the article describing?
Hunger marketing.