The vice President of Marketing for a regional doughnut retailer says, we believe our customers exhibit high involvement buying behaviors” why or why not?
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Answer:
Needs, wants and demands, marketing offer, Exchanges, Transactions and Relationships Exchange. Needs, wants and demands are the most basic concept underlying marketing. Human needs are stats of felt deprivation. They include basic physical needs for food clothing, warmth, and safety they also includes social needs for belonging and affection, and individual needs for knowledge and self expression. These are very basic factors of human life and not invented by marketers, basic part of human make up
Need is something you have to have but want is something you would like to have. Wants are the form taken by human needs as they are shaped by culture and individual personality. Food is a need but what you want to have may differ by your country or culture people have almost unlimited wants but limited resources. Thus they want to choose products that provide most value and satisfaction for their money. Given their wants and resources, people demand products with the benefits that add up to the satisfaction. So these needs, wants, and demands are the more important than any of others because it makes up and generates the other four market place concepts.