Needs ,Wants and Demands

01.9 Needs ,Wants and Demands

The marketer must try to understand the target market’s needs, wants and demands. Needs are the basic human requirements. People need food, air, water, clothing and shelter to survive. People also have strong needs for education, recreation and other services. These needs are not created by society or by marketers. They exist in the very texture of human biology and the human condition.

These needs become wants when they are directed to specific objects that might satisfy the given need. A country (sri lanka, us) need food but wants a rice and curry, noodles etc. although people’s need are few ,their wants are shaped and reshaped by social forces and institutions including families, temples ,schools and business organizations.

Needs :-           A human need is a state of felt deprivation of some basic satisfaction.

                        Eg. Hungry , thirsty  etc.

Wants :-          wants are desires for specific satisfies of these deeper needs.

                        Eg. If thirsty can satisfy by drinking tea, coffee, or water.

Demands :-      demands are wants for specific products that are backed by an ability and willingness to buy them.