April 16, 2015

Needs and Wants - Marketing Concepts

Marketing Management Revision Article Series

Philip Kotler gives needs, wants and demand as the first group of core concepts of marketing.

Needs are basic human requirements. Food, air, water, clothing, and shelter are essential for survival. People also need education and entertainment.

The needs become wants when they are directed to specific objects that might satisfy the need.

Marketers do not create needs. Many of the needs are biological.

Marketers try to influence wants and create demand for the products that they selling.

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