Much of our consumer society is built on the edifice of individual wants. Many of the things which have previously been wants, eg. a laptop computer, have now become needs, as our society has changed. What are the implications of the recession for how wants and needs will change ? Conventional wisdom says consumers will focus on needs only - yet we see consumers spending up on small indulgences, like getting their nails and hair done (not that your a barista has had either of these !), which clearly fall into the wants category.
Conventional thinking also has that needs are associated with commodity style products. Do consumers intend to sacrifice all wants and does the recession mean we are doomed to a endure an era of dumbed down products ?
How good are agencies at marketing to needs - as opposed to the aspirational (and often big-budget) campaigns based on wants ? what is your experience of this ?
Are these gross generalisations merely gross or do you think the fundamentals of what are needs and what are wants will undergo massive change in this time of fear and uncertainty ? What are your views ? Share the brew !
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