Needs:-
Needs are a state of self-deprivation. The starting point for marketing is the human needs. Human needs can be physical, such as need for food, clothing, shelter, sex and sleep, or social, such as need for love and security, or individual, such as need to knowledge and self-expression. When one of these needs reaches a threshold level it creates a state of anxiety in the individual. This state forces the individual to undertake an activity that will reduce the level of need related anxiety. This can be achieved by moving towards objects that will satisfy the needs.
Wants:-
wants are desires for specific satisfiers of needs. The type of need satisfying objects differs from one society to other and from one individual to the other. Wants are shaped by the culture, social class and individual personality. What a person will want when he/she is hungry will depends on his/her consumption behavior shaped by the culture, social class and individual taste preferences.
Demands:-
Demands are human wants backed by ability and willingness to buy. Individuals have unlimited wants but their resources are limited. Thus, they have to choose products that deliver the most utility and satisfaction. Needs are not created by the marketer. They exist in the individual through the biological, social and individual processes. Marketers can influence human wants by providing a variety of need-satisfying objects, suitable culturally, socially and individually. Marketers can also influence demand by offering products at different price and quality levels that suit the buying power of various categories of buyers.
Needs are a state of self-deprivation. The starting point for marketing is the human needs. Human needs can be physical, such as need for food, clothing, shelter, sex and sleep, or social, such as need for love and security, or individual, such as need to knowledge and self-expression. When one of these needs reaches a threshold level it creates a state of anxiety in the individual. This state forces the individual to undertake an activity that will reduce the level of need related anxiety. This can be achieved by moving towards objects that will satisfy the needs.
Wants:-
wants are desires for specific satisfiers of needs. The type of need satisfying objects differs from one society to other and from one individual to the other. Wants are shaped by the culture, social class and individual personality. What a person will want when he/she is hungry will depends on his/her consumption behavior shaped by the culture, social class and individual taste preferences.
Demands:-
Demands are human wants backed by ability and willingness to buy. Individuals have unlimited wants but their resources are limited. Thus, they have to choose products that deliver the most utility and satisfaction. Needs are not created by the marketer. They exist in the individual through the biological, social and individual processes. Marketers can influence human wants by providing a variety of need-satisfying objects, suitable culturally, socially and individually. Marketers can also influence demand by offering products at different price and quality levels that suit the buying power of various categories of buyers.
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