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MinimalismMinimalism is a fast-growing lifestyle. Watch the following video to know more:If you think in terms of the consumer behaviour model, you'll realise that this single external influencer (lifestyle) is dominating all purchase decisions of minimalists. Minimalists try to actively resist all marketing activity done by companies — the very thing that you are trying to learn in this course!But let's go back to the fundamental purpose of marketing: identifying the consumer need and fulfilling it. Using this principle, what kind of product strategy should you adopt to appeal to minimalists? (More than one option may be selected.)Products that can be sold at heavy discountsProducts that can be purchased in bulk and disposedProducts that elevate the status of the individualHigh-quality products with a focus on longevityProducts that have a wide range of functions

Question

MinimalismMinimalism is a fast-growing lifestyle. Watch the following video to know more:If you think in terms of the consumer behaviour model, you'll realise that this single external influencer (lifestyle) is dominating all purchase decisions of minimalists. Minimalists try to actively resist all marketing activity done by companies — the very thing that you are trying to learn in this course!But let's go back to the fundamental purpose of marketing: identifying the consumer need and fulfilling it. Using this principle, what kind of product strategy should you adopt to appeal to minimalists? (More than one option may be selected.)Products that can be sold at heavy discountsProducts that can be purchased in bulk and disposedProducts that elevate the status of the individualHigh-quality products with a focus on longevityProducts that have a wide range of functions

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Solution

To appeal to minimalists, based on the principle of identifying the consumer need and fulfilling it, the product strategy should include:

  1. High-quality products with a focus on longevity: Minimalists prefer to invest in items that are durable and long-lasting, rather than buying cheap items that need to be replaced frequently. This aligns with their philosophy of reducing waste and unnecessary consumption.

  2. Products that have a wide range of functions: Minimalists value versatility and functionality in their products. Items that can serve multiple purposes are highly appealing as they reduce the need for multiple, single-purpose items.

The other options, such as products that can be sold at heavy discounts, products that can be purchased in bulk and disposed, and products that elevate the status of the individual, do not align with the minimalist lifestyle. Minimalists are not driven by price, quantity, or status, but rather by quality, functionality, and simplicity.

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Do you have some additional insight into consumer behavior? What do you think is important to consider when considering what consumers want?

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