Wants, needs and demands - core marketing concept, Marketing Management

Wants, needs and demands

Needs: Human needs are the most fundamental concept underlying marketing.  A human need is a state of felt deficiency.

1). Humans have many complications

  1.   Fundamental,   physical   needs   for food, clothing, warmth, and safety.
  2.   Social requirements for belonging and affection.
  3.   Particular needs for knowledge and self-expression.

2). these needs are part of the fundamental human makeup.

Demands: Another marketing concept is human wants. A human want is the form which a human need takes as shaped by culture and particular personality.

Demands:  are human wants that are backed by purchasing power.

Consumers view manufacture as bundles of benefits and select products that give them the greatest bundle for their money. Outstanding marketing companies go to high lengths to learn regarding and understand their customer's wants, requirements and demands.

Posted Date: 11/8/2012 12:52:17 AM | Location : United States

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