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What Types Of Products Are “Necessities” Among Today’s Consumers – And Why

November 14, 2011: 03:24 AM EST
Despite the fact that jobless rates are still high, housing prices and demand are still low, and world financial markets are wobbly, consumers still purchase products they feel are a necessity, rather than just a want or a “can live without,” Advertising Age reports. But purchasing a necessity – an iPhone, for example, among some people, or Internet connectivity – means that other products are not purchased. Consumers are rethinking spending, they are reprioritizing. And that presents both challenges and opportunities for marketers: how do you move a product from a "want" to a "need" and keep it from becoming a "can live without"? Ad Age presents the results of a survey it conducted among 1,000 Americans, asking them what products or services they absolutely can’t live without – and which ones they can.
Matt Carmichael , "The New Necessities: What Products and Services Can Consumers Not Live Without?", Advertising Age, November 14, 2011, © Crain Communications
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