7- A trip from Needs to Demands
To know more about marketing, you’ve to understand the difference between 3 basic directions which are: Needs, Wants & Demands.
Needs are the basic things that we can’t live without.
These needs were created by a variety of human people and technology.
Needs are the basic things in life, like food, water, and clothes.
Wants are needs powered by culture and different personalities.
wants to depend on the culture of society, as is the difference between regular and mineral water.
Demands are wants shaped by buying power and money like the types of cars and the difference between their prices.
Marketing offering Needs and wants are satisfied through market offers.
Marketers use observations and different marketing research tools to understand needs like observation, survey, experience, or questionnaires.
At the end we can say
but you want a specific brand pencil, and if you have buying power, you will buy a box of this brand.