Need vs Want

Topics: IPod, ITunes / Pages: 4 (934 words) / Published: Jun 18th, 2013
Needs versus Wants of MOUNTAIN DEW, NIKE SHOES and IPOD
There are N number of products under various categories in the market. But how many of them are successful is a fact that needs to be analyzed. The customer can view only the end product. But the actual fact behind the success of the product is invisible to the customer. One of the most important factors that lead to the success of the product is Marketing. The term marketing revolves around three basic principles –“Needs, wants and demands”. It is very important to understand the difference among the three before identifying the needs and wants of our examples Mountain dew, Nike shoes and IPod.
Needs: Human needs are basic requirements Human needs are the basic requirements and include food clothing and shelter.
Wants: Wants are a step ahead of needs and are largely dependent on the needs of the human beings. For example, you may want chocolates but the basic need is food.
Demands: A step ahead of wants is demands. When an individual wants something which is premium, but he also has the ability to buy it, then these wants are converted to demands.
Having understood the difference among needs wants and demands, let us analyze the Needs versus Wants of Mountain Dew, Nike Shoes and IPod.
A product becomes successful when the customer is attracted by it. The first striking feature is how the product is presented. The attractive green color label and the name of the product scores rightly. Added to it, it is marketed by famous film stars like Salman Khan and Mahesh Babu. This advertising factor alone will drive people to buy Mountain Dew. The customer’s basic need here in this context would be a drink which has good taste, which is small and affordable, which has the reasonable quality for the money that he pays. This need factor is changed to want when this product is visually appealing and instigates one to buy this product. This appeal is created by

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