The Concept of Needs, Wants and Demand in Marketing

Topics: Want, Need, Marketing Pages: 2 (297 words) Published: June 12, 2012
The whole idea of marketing revovles around 3 main thing the are the needs,wants and demands. in normal life needs,wants and demands are often used interchangeable but in marketing concept,they are defined in diverse sense

• Needs:the basic requirments that individual wishes to satisfy basic needs[food,shelter,drink,safety,affection] • Wants:wants are a step up ahead of needs and the depend on the needs of the humans, a want is a desire for specific product or service to satisfy underlying needs. e.g you need to take bath but you want to take bath with the best soap. wants are mendatory part of life as we dont need good smeeling soap but we use it because its our want • Demand:demand is a want for products or services for which you are willing and able to pay. e.g if someone likes flying and he wants to buy an aeroplan or a helicopter.many people have this dream but unfortunately only few of them could actually purchase a helicopter. e.g a moter cycle only comes when a person turns 40 and are in the midst of the middle life crisis.

Everyone needs something,but they may want different things to fullfil the same needs,however,wants are just feeling and one must have money to turn one's want into demands.

• Mountain dew
• Ipod
• Nike shoes

All three companies are very well known and in continous competition with other companies within their different sectors from which they belong in order to get to the top selling positions

• Mountain dew:
Mountain dew is a brand produced and owned by pepsico.its basic purpose is to provide pleasure and happiness and refreshment.when people want a refreshing drink,they know mountain dew is the best choice due to it quality,style,price and...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • What is marketing? Needs, wants and demands... Essay
  • Marketing: Needs, Wants and Demands Essay
  • Marketing Concept Essay
  • Does marketing create or satisfy needs? Take a position, marketing shapes or merely reflects needs and wants of consumer? Essay
  • Marketing concept Essay
  • Difference Between Needs And Wants Marketing Essay
  • discussing the concepts in marketing Essay
  • Production Concept in Marketing Essay

Become a StudyMode Member

Sign Up - It's Free