Needs wants and demands are a part of basic marketing principles. Though they are 3 simple worlds, they hold a very complex meaning behind them along with a huge differentiation factor. In fact, A product can be differentiated on the basis of whether it satisfies a customers needs, wants or demands. Each of them is discussed in detail in this article
Needs
Human needs are the basic requirements and include food, clothing and shelter. Without these humans cannot survive. An extended part of needs today has become education and healthcare. Generally, the products which fall under the needs category of products do not require a push.
Instead the customer buys it themselves. But in todays tough and competitive world, so many brands have come up with the same offering satisfying the needs of the customer, that even the “needs category product” has to be pushed in the customers mind.
Example of needs category products / sectors – Agriculture sector, Real Estate (land always appreciates), FMCG, etc.
Wants
Wants are a step ahead of needs and are largely dependent on the needs of humans themselves. For example, you need to take a bath. But i am sure you take baths with the best soaps. Thus Wants are not mandatory part of life. You DONT need a good smelling soap. But you will definitely use it because it is your want. In the above image, the baby needs milk but it WANTS candy :)
Example of wants category products / sectors – Hospitality industry, Electronics, Consumer Durables etc, FMCG, etc.
Demands
You might want a BMW or a Mercedes for a car. You might want to go for a cruise. But can you actually buy a BMW or go on a cruise? You can provided you have the ability to buy a BMW or go on a cruise. Thus 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. The basic difference between wants and demands is desire. A customer may desire something but he may not be able to fulfill his desire.
Example of demands – Cruises, BMW’s, 5 star hotels etc.
The needs wants and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. Thus the flow is like this.
Market >> Identify needs wants and demands >> Offer products to satisfy either needs wants or demands.
Need, want and Demands This is easiest Concept
Here we take Small sentence
Think, suppose you are trusty then your Need is WATER because it’s basic Requirement
But You Want COLD Water and if your Demand “COLD WATER WITH ICE CREAM”
A very easy way to understand the need ,want and demand.
Could u help me pls i have one question is related this topic but I don’t know how to write first.
its very easy to understand…
Its really easy to understand
Its good
nice work
very simple language….its really easy to undestand…n good examples
nice work with most suitable example every one can easily understand that what is need want and demand….
Easy to understand. Its very useful.
if a person wants to purchase computer for last six months and now he has enough money and power to purchase then his need becomes?
need
demand
necessity
want
with explanation
It is still a need. But the computer he is going to buy will become a type of demand. Say he buys a ACER computer. It is a want. Because the laptops of Acer is good. But say if he wants to buy an ALIENWARE laptop or a McAIR – It becomes a desire. Because he is accumulating money, he wont be able to buy an Alienware laptop which costs 1 lakh and above. Thus, the alienware is a desire and an acer is a want. The laptop is in no ways a need because he can go to cyber cafe’s and complete his work. Or if it was a need, he neednt wait for 6 months.
Hope this explains the concept :)
thanks i can do my assignment because of you
Thank you for this :)
thankx….most informative
Need: Mobile
Want: Android
Demands: iPhone.
Need is what we must have to……….
wants are the needs that are determined by the culture, society.
when we have have buying power, wants become demands and we look for added values(features in the product we need):
for exaple.
if we need a bike (bike is the need for this age)
we want different brands…eg honda, yamaha, etc.
and if we have money more than 70cc, we demand for 125cc
Very well explained. Thanks for the contribution on needs wants and demands.
if we go to the restaurant to buy some food for eating,food is a need but when we take for example a bottle of wine after eating,we satisfy our want.
nicely described especially, the examples
Discuss a need or want you have that is not adequately satisfied by any offerings currently in the marketplace. Think of a product or service that will satisfy that need or want. Describe how you will differentiate and position your offering in the marketplace and develop the marketing program for your offering.
What is simple definition of wants?
This site is better than other site ….thanks
And very simple language in this site
Love so much
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sir, what is the difference between :-
– stated needs
– real needs
– unstated needs
– delight needs
– secret needs
pls help with easy example
tq
I appreciate this common sense explanation.
Why haven’t i found your website earlier. Great post and thanks a lot.
You just pointed out that my own site needs brand awareness ;) I need to start planning.