Marketing - Research Article from Encyclopedia of Business and Finance

This encyclopedia article consists of approximately 11 pages of information about Marketing.
This section contains 3,006 words
(approx. 11 pages at 300 words per page)
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Needs and Wants

Needs are the basic items required for human survival. Human needs are an essential concept underlying the marketing process because needs are translated into consumer wants. Human needs are often described as a state of real or perceived deprivation. Basic human needs take one of three forms: physical, social, and individual. Physical needs are basic to survival and include food, clothing, warmth, and safety. Social needs revolve around the desire for belonging and affection. Individual needs include longings for knowledge and self-expression, through items such as clothing choices. Wants are needs that are shaped by both cultural influences and individual preferences. Wants are often described as goods, ideas, and services that fulfill the needs of an individual consumer. The wants of individuals change as both society and technology change. For example, when a computer is released, a consumer may want it simply because it is a...

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This section contains 3,006 words
(approx. 11 pages at 300 words per page)
Buy the Marketing Encyclopedia Article
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Encyclopedia of Business and Finance
Marketing from Encyclopedia of Business and Finance. Copyright © 2001-2006 by Macmillan Reference USA, an imprint of the Gale Group. All rights reserved.
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