The purchase of a product or service by the consumer is usually determined by the needs of a person. Discuss.
1. Needs and Wants
The purchase of a product or service by the consumer is usually determined by the needs of a person. However, not only needs are applied, but also wants. Needs can be defined as a term when referring to any human requirements, although there is loads of meaning to needs that may be used. For example, a woman who heads to a departmental store to buy clothes so that she can protect herself from the heat of the sun or the rain. Needs are the essence of the marketing concept. The key to a company’s survival, profitability, and growth in a highly bloodthirsty marketing environment is its ability to identify and satisfy unfulfilled consumer needs sooner and better than the competitor.
However, every individual has needs. There are two types of needs, one is known as innate needs and the other is acquired needs. Innate needs are physiological, it include needs such as food, water, clothing, shelter and air. In other words, innate needs are your primary needs as they are needed to sustain biological life. On the other hand, acquired needs are your secondary needs. It is the needs that we learn in response to our culture or environment and it include the needs of self-esteem, affection, power, and learning. They result from the individual’s subjective psychological position and from relationship with others. At most of the time, these needs will not be strong enough to motivate a person to perform. A need only becomes a motive when it is aroused to a sufficient level of intensity.
Needs reflect a gap between w ...