In 1960, Theodore Levitt argued that consumers don\'t buy drill bits, they buy w
ID: 395124 • Letter: I
Question
In 1960, Theodore Levitt argued that consumers don't buy drill bits, they buy ways to make holes (he also coined the phrase globalization!)
Using this as a premise, explain the real reason why consumers make the following purchases.
Feel free to offer other examples!
consumers don't buy life insurance, they buy ways to...
consumers don't buy swimming pools, they buy ways to...
consumers don't buy greeting cards, they buy ways to...
Please continue to include cited (in text) references to any sources of external information that you include in your postings. Doing so, helps position you as a researched subject matter expert!
Explanation / Answer
Consumers buy Life insurance to secure their health or life or say increase the probability to live healthy or live longer. Consumers also find ways so that in case of emergencies, their health treatment costs can be insured or paid by the insurer, a risk management.
Consumers don’t buy swimming pools, but they rather see it as way of gathering or meeting or doing some activity in common with others, which gives each chance to mingle, share and have fun together, thereby, reducing lone activity.
Consumers buy greeting cards to send and share their feelings with loved ones by expressing them on different occasions like New Year, X’mas, and Birthdays etc. in variety of ways by email or offline cards.