...Consumer Needs and Wants Cynthia Harris BUS350 Instructor Andrea Benjamin December 21, 2015 This year I have spent a lot of money. The money I make goes to rent, bills, gas, groceries, and any other expenses. The main stores I shopped at were Dollar Tree, Wal-Mart, and Aldi’s. I also spent way too much money at restaurants such as Mattito’s and Golden Corral. Also, I noticed I eat out more than I buy groceries, which showed why I didn’t have very many product purchases. There are many products I am brand loyal to but there were a few that I tried to change since they were on sale or I just wanted to try something new. I also found that I chose more products that weren’t name brand. I think that I chose these because I was on a budget and I knew how much I wanted to spend when I was at the store. I found that the name brand products were always at least two to three dollars more than brands that weren’t name brand. I also found that some of the brands that aren’t name brand taste a lot better and you usually get more than you pay for out of the non name brand products. One of the products that I am really happy I tried was a new Keurig K-Cup coffee brand called “Cameron’s”. The box of 12 was very inexpensive only costing $4 compared to the Folgers Gourmet that I usually buy that costs around $8 with tax. So, I spent half and I feel I got better quality. I also really wanted to try this particular product because it was different than all of the other K-Cups...
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...“Marketing merely reflects the needs and wants of consumer” Abraham Maslow proposed a hierarchy of needs back in 1950s and 60s. Human needs are arranged in a hierarchy from most to least pressing – physiological needs (primary or fundamental needs), safety needs, social needs, esteem needs, and self – actualization needs. When a person succeeds in satisfying an important need, he will then try to satisfy the next most important need. God create human with different types. In this world, there are continent, ocean, country, and city. They are different, so are we. I think we have same physiological needs because we cannot live without them. As customers, we always want quality products, which satisfy our needs and wants. Customers are looking for products and services with best combination of price, quality, and availability. As a human, we are different. There are segmentation by age, gender, nationality, lifestyle, income, and many others segmentation. If, you are female, your needs and wants are different with male. I am Indonesian, my needs and wants are different with American. I eat rice; they eat burger, pizza, and other food. This is why marketers must create and develop attractive product. Some customers would not mind to paying a higher price for a product or service if we received something with best combination of price and quality. This is a part when a costumer’s expectations on a product or service are, and if these expectations are met continually then...
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...satisfy needs? Take a position, marketing shapes or merely reflects needs and wants of consumer? When we talk about marketing, there are lot things that we should know first. Marketing is activities of creating value that desired by the potential buyers and receiving value from the potential buyers for the value that they have received. When marketers want to create something that has value to the potential buyers, marketers must know first, what do the potential buyers need or want. As a marketer, it does not make any sense if we sell something that does not have value, or if the marketers want people to purchase something that they do not need of even want. Marketers can not force anyone to do something. They can only ask them to buy their product or service. Some people might not care about what they are asking for. So, in the business of selling product or service, we know word “marketing”. Marketing is an art of identifying and meeting the people’s needs and wants. It is all about communication between two parties that profitable for the both sides by exchanging value. Marketing is not that easy to do. As we know, we can not mess with the “free will” of the people around us or people that we see as the potential buyers. It is up to them if they are willing to buy the marketers’ products or service. In this case, the marketers have to do their marketing activities. Their job is to tell people that their product or service is suit with the people’s need or want. Therefore...
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...potential buyers and receiving value from the potential buyers for the value that they have received. When marketers want to create something that has value to the potential buyers, marketers must know first, what do the potential buyers need or want. As a marketer, it does not make any sense if we sell something that does not have value, or if the marketers want people to purchase something that they do not need of even want. Marketers can not force anyone to do something. They can only ask them to buy their product or service. Some people might not care about what they are asking for. So, in the business of selling product or service, we know word “marketing”. Marketing is an art of identifying and meeting the people’s needs and wants. It is all about communication between two parties that profitable for the both sides by exchanging value. Marketing is not that easy to do. As we know, we can not mess with the “free will” of the people around us or people that we see as the potential buyers. It is up to them if they are willing to buy the marketers’ products or service. In this case, the marketers have to do their marketing activities. Their job is to tell people that their product or service is suit with the people’s need or want. Therefore, the marketers have to know what do people need or want. How can the marketers find out about what the people need or want? They analyze the potential buyers. They have to collect data about the potential buyers. The data is all about their...
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...essay, explain the five types of needs associated with a consumer who says she wants a “nice MP3 player.” When a customer enters into a store and states “I want a nice MP3 player”, there are five core needs associated with this statement. While there are strong differences between wants and fundamental needs (i.e. water, shelter, and food), humans often do not differentiate between the two. Wants are shaped by our society. The job of distinguishing between the two done by the marketer is often a difficult one. The first need is the initial stated need, “I want a nice MP3 player.” The need is verbally stated to the salesperson. The second is the real need. The customer wants and MP3 player, which is nice. This most likely means she or he is looking for something not too expensive or flashy, but above the “average” player. The third is the unstated needs. The customer has expectations and needs, which might not be verbally stated, but the sales person is expected to understand. The customer does not want to deal with a poorly-made or non-working product. Fourth, is the delight needs. The delight needs are add on's that don’t necessarily come with every model. Examples of this would be a color screen, ability to make playlists, store photos, or an FM/AM tuner. Last, are the secret needs. The customer wants to be seen by friends as a savvy shopper and someone who has good taste to buy the best MP3 player available. All of these needs should be addressed in order to achieve...
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...Marketing Shapes Consumer Needs and Wants Name Here University Here How Marketing Shapes Consumer Needs and Wants Marketing shapes consumer needs and wants by influencing consumers to change their needs to wants. Our text book defines needs as “basic human requirements” (Kotler & Keller, 2009, p.12) and wants as needs which are “directed to specific objects that might satisfy the need” (Kotler & Keller, 2009, p.12). Marketers understand that consumers have five types of needs: stated, real, unstated, delight and secret (Kotler & Keller, 2009). By targeting these needs and informing consumers marketers are shaping consumer needs by “helping consumers learn what they want” (Kotler & Keller, 2009, p.13). It is much easier for companies to use marketing to shape consumer needs and wants versus using marketing to reflect the needs and wants of consumers. For example if consumer needs and wants change quickly and often, manufacturers can’t simply change their production lines overnight (Helen 2009). Fast Food Marketing The best examples of effective marketing today can be seen in the fast food industry. Fast food companies are targeting the real human need to eat and influencing consumers to want their products. The fast food industry spent more than 4.2 billion dollars in 2009 to advertise their products to all audiences (Harris 2009). This advertising is so effective that it has convinced 15% of preschoolers that it is ok to eat fast food every...
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...difference between needs, wants and demands and the various factors that influence human consumption. Monandniso Tursunova ID: 20111449 MKT 3140: Intermediate to Marketing Dr. Kim Chung 20.02. 2012 Outline 1. Introduction a) The concept of needs wants and demands. b) The factors influencing the consumption behavior 2. Body a) Maslow’s Hierarchy of needs b) The difference between the demands and wants 3. Conclusion a) Marketing reflects the needs and wants of customer b) Marketing shapes the needs and wants of customer c) My point of view about the marketing position A Penny Saved Is A Penny Earned. Different people have different preferences, opinions and tastes. Everyone is unique by its nature and characteristics. And to understand all these diversity marketing industry should put a lot of efforts. In order to satisfy their demands needs and wants they should face them directly. They have to make appropriate and even unusual approach to catch the attention of audience. First of all let’s look to the concept of needs, wants and demands. What are they?? And why marketers do worry about them a lot?? As we already mentioned needs, wants and demands are basic factors of marketing principles. Even though they are three simple words, they hold complex meaning behind them along with a huge differentiation factor. Generally a product can be defined on the basis of whether it satisfies a customer need, wants or demands....
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...focus on the relation between consumer attitude towards mobile phones and its impact on consumer buying behavior in Danish mobile market. This outlines idea about this sector as well as compare and contract with the finding from different previous literature. About the Consumer: In general, consumer is a person(group) who consume the goods and services from the market with accordance their closed needs and wants. In the field of economics, marketing and advertising a consumer is generally defined...
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...for this use. The case discusses the advantages (fewer frown lines) and disadvantages and side effects (drooping eyelids and the need to repeat treatments) of Botox; explains what the product is; lists potential target markets; selling of the product at “Botox parties”; use of Botox treatments to attract customers to resorts; Allergan’s marketing of Botox once it was approved for cosmetic purposes and the use of Botox to support the new strategy of Allergan to become a major player in the pharmaceuticals industry. It closes with the observation that the formula for Botox is one of the most closely guarded product secrets in the world—along with the formula for Coca-Cola. The case is especially useful for discussing added value and the creation of customer satisfaction. It raises questions about the difference between needs, wants, and demands; what constitutes value; is useful for illustrating the difference between a marketing oriented company (Allergan after Botox) rather than a non-marketing oriented company (Allergan before Botox); the potential benefits of marketing and raises questions about societal marketing (should Botox be promoted for cosmetic purposes? Should it be sold through parties?) The case can also be used to illustrate relationships in the marketing paradigm—between Allergan and doctors, Allergan and final consumers and doctors, and final...
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...that there are two forms of wants exit in consumer demand. First is the individual’s want that never going to be reduced, although it always satisfied. Like a man is physically satisfied by fulfilling his stomach by eating food, but then he may want to watch TV to relax after finishing eating. The other form of consumer demand is that the consumer role that human plays. Human in this role always want to buy production to satisfy themselves. However, the two forms of wants will not exist as the modern advertising and salesman were brought into the economy, which brings in the theory of Galbraith-“The Dependence Effect”. He expounded that “As a society becomes increasingly affluent, wants are increasingly created by the process by which they are satisfied” (Galbraith, John Kenneth, p. 293). He thought that advertising manipulates human’s needs and create artificial needs for people, or in other words, modern advertising is used not for serving human’s needs purpose, but for creating new demands for them. For example, fancy jewelry always appears on the TV screen. The shinning appearances of the jewelry with the romantic background music, advertisers utilize the perfect visual effect and auditory effect to introduce how perfect their product is, so that attract consumers to buy it. Do people really need jewelry? The answer would be no. The need that people have on jewelry is because of the advertising effect. The advertising makes people think that they need the jewelry for beauty purpose...
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...Zipcar is a car sharing program based on Cambridge Massachusetts. It imposes an annual fee for its members depending upon the level of service and a fee per hour. These fees cover insurance and initial driving license checking fee. Consumers do not have to worry about insurance, down payment for car and monthly fee. Zipcar targets cities where it is difficult to find parking and people depend upon local transportation system. One of the main attractions of Zip car is customers can own car when they need without having to deal with monthly payment, insurance and parking problems. A brief overview of the key facts and issues related to management consumer behavior: Zipcar’s primary market is among urban dwelling people. People living in cities such as Boston primarily depend upon public transportation. Running errands and even work can be either within walking distance or within a reach of public transportation. Parking can be expensive and many time unavailable. Since these people use car occasionally, sharing car instead of owning one can be less expensive. Zipcar also focus its services to students who need car occasionally but do not want to own one. After paying certain fee, its members can have car with whenever they want for a small fee. Zipcar has locations around cities where it has fleet of cars. Its members can choose different kinds of cars. Members can pick up cars and return car on the designated spot using Zipcard. The same car will be used by other members too...
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...Capitalism Final 12/18/2014 Consumer Capitalism: Needs and Wants, Ecology and Design A need is something we have to have, something we can't do without. A want is something we would like to have, not absolutely necessary, but it would be a good thing to have. Unfortunately, need is only a small part of why shoppers buy things. There are two solutions to solve this problem. First is that we must find a way to balance our needs and at the same time take nature, the source of ours goods, into consideration. In other words, mass production from toxic factories must be decreased and other eco-friendly solutions must be adopted for a better and sustainable world. The second solution has to be done by designers, along with business owners and advertisers; they have the power to manipulate consumers. Instead of making people buy products that they want and not need, they can find a way of balancing between the two by designing, advertising and selling products that support reasonable standards of living. Industrial and product designers must prioritize the importance of functionality and durability in the process of design. In other words, when they design a product, they must focus on the needs and the importance of the products function in addition to its materials so it lasts longer. If all industrial designers focused more on these two aspects and less on the “beauty” or aesthetics of objects, then our whole world will consume less. But first...
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...principle of selling computers directly to the consumers. The company believed that this was the best way of fulfilling and understanding the needs of consumers in the most efficient manner, by providing customized computer solutions to meet individual needs. About 140,000 systems shipped per day, on average – that’s more than one every second to customers in 180 countries. 1.2 Apple Inc. Apple was founded on January 3rd, 1977 by Steve Jobs. It currently has 35,000 employees and has a worldwide annual sale of US $ 42.91 billion . Apple has established a unique image in the consumer electronics market with its philosophy of comprehensive aesthetics to distinctive advertising campaigns. Apple started out its business from selling personal computers and then expanded its product line by introducing laptops, mp3 players, mobiles, etc. 2 NEEDS AND WANTS ANALYSIS 2.1 Needs A need is a state of felt deprivation of some basic satisfaction. People require food, clothing, house to live in, safety, social needs, self-esteem needs and individual needs. Social needs may include a sense of belonging, affection, fun, and relaxation. Esteem needs include prestige, recognition and fame, while individual needs may include need for knowledge and self-expression. These needs are not created by their society or by marketers, but are basic to human existence. Marketing begins with the identifying of needs first, followed by the wants and demands. Many advertisements for hotels...
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...ESSAY QUESTION Does advertising create artificial wants? Your answer should discuss John Kenneth Galbraith’s ‘dependence effect’ and F.A.Hayek’s response. Nowadays, the media’s power is indisputable and it is not accidental that it is called the fourth estate. That power represents the possibility to exert influence on people’s behavior. Nowadays one very hot and disputed issue is the advertisement effect on the consumers’ buying behavior. Well prepared campaign can influence consumer decisions and make them buy certain product. The modern world is a world of overproduction. We are surrounded by all kinds of goods- some urgent and some not so much. Certain goods are sold quickly while others remain on the shelves. Every company seeks to put on the market such a product that will grab the consumers’ attention, and make them feel incomplete if they do not have it. But among the abundance of goods, a product may remain unnoticed. That is why corporations rely heavily on advertising to sell their production. They have realized that not the quality of the product, but the advertising sells it. Advertising companies strive to convince the consumers that the product is extremely urgent and without it a person’s would be less happy than others who have it. There are different strategies that companies use in order to touch the consumers’ subconsciousness- they play with customers’ emotions, they rely on celebrities to advertise the goods, and they target the deceivable children...
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... Consumer behavior is the actions a person takes to purchase and use products and services. Consumers use mental and processes that help them come up with the products they are going to purchase. Consumer perception, learning, and motivation are major factors in what products consumer purchase. Consumers have reasons why they purchase products and services. Companies use that knowledge to help consumers buy their products and services. They know what consumers want and need and use that to sell products. Perception is the process which people select, organize, and interpret information. Learning is a change in behavior caused by information or experience of something. Motivation is the internal state that drives us to satisfy needs. Once consumers realize they have a need, they have the motivation and the need to fulfill that need. Selective perception involves exposure, comprehension, and retention. Selective exposure means consumers can pay attention to messages that are consistent with their own attitudes and beliefs. Selective comprehension involves interpreting information so it stays consistent with those attitudes and beliefs. Selective retention is the information that we do not realize we have. (www.rohan.sdsu.edu) Consumer perception like other mental processes has risks to consumers. Consumers have anxieties because they cannot see the outcome of their purchase and whether or not it is a good or bad purchase. Companies try to reduce consumers anxiety...
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