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Home » Marketing » Needs wants and demands

Needs wants and demands

December 15, 2017 By Hitesh Bhasin Tagged With: Marketing

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

Table of Contents

  • Needs
  • Wants
  • Demands

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.

Needs wants and demands Needs wants and demands2

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.

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About Hitesh Bhasin

I love writing about the latest in marketing & advertising. I am a serial entrepreneur & I created Marketing91 because I wanted my readers to stay ahead in this hectic business world.

Comments

  1. Narendra says

    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”

    Reply
    • Najeebullah says

      A very easy way to understand the need ,want and demand.

      Reply
      • Jobanjeet says

        Could u help me pls i have one question is related this topic but I don’t know how to write first.

  2. faiz ullah says

    its very easy to understand…

    Reply
  3. SYED M RAFIQUE HASHMI says

    Its really easy to understand

    Reply
  4. SYED M RAFIQUE HASHMI says

    Its good

    Reply
  5. mary says

    nice work

    Reply
  6. salman usmani says

    very simple language….its really easy to undestand…n good examples

    Reply
  7. FAYAZ HUSSAIN CHANDIO says

    nice work with most suitable example every one can easily understand that what is need want and demand….

    Reply
  8. Abul Hashem says

    Easy to understand. Its very useful.

    Reply
  9. manish says

    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

    Reply
    • Hitesh Bhasin says

      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 :)

      Reply
  10. triza may says

    thanks i can do my assignment because of you

    Reply
  11. rhoda mae castillo says

    Thank you for this :)

    Reply
  12. Aajaz Meer says

    thankx….most informative

    Reply
  13. mazher iqbal says

    Need: Mobile
    Want: Android
    Demands: iPhone.

    Reply
  14. mazher iqbal says

    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

    Reply
    • Hitesh Bhasin says

      Very well explained. Thanks for the contribution on needs wants and demands.

      Reply
    • simeon bimenyimana says

      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.

      Reply
  15. NASIR says

    nicely described especially, the examples

    Reply
  16. yelena says

    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.

    Reply
  17. Uzzal Talukder says

    What is simple definition of wants?

    Reply
  18. yatendra yadav says

    This site is better than other site ….thanks
    And very simple language in this site
    Love so much

    Reply
  19. Abhijeet Patil says

    This is outstanding site. I get information related to my topics. i will suggest my friends to use this site for better experince .

    Reply
  20. Jo Ak Hang says

    sir, what is the difference between :-
    – stated needs
    – real needs
    – unstated needs
    – delight needs
    – secret needs

    pls help with easy example
    tq

    Reply
  21. Chi Ji Okem says

    I appreciate this common sense explanation.

    Reply
  22. Jhon says

    Why haven’t i found your website earlier. Great post and thanks a lot.

    Reply
    • Hitesh Bhasin says

      You just pointed out that my own site needs brand awareness ;) I need to start planning.

      Reply
  23. Mandla P Mkhwanazi says

    Complex concepts are made simple here and thanks for the service to the global society!

    Reply
  24. mawra amjad says

    what is the role of need,want and demand in marketing?because my topic is presentation on marketing.so plz anyone tell me that is any relation of need,want and demand in marketing?

    Reply
  25. sammantha says

    a small mobile home on a very small lot and a place to park my ride next to trailer dont want to have to cut grass cos dont a lot with any kind of grass ,sand, fake rubber rocks r ok fake green bushes round lot and deep water fill trenches to catch tela marketers

    Reply

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