CONSUMERS' NEEDS AND WANTS

Consumers' Needs and Wants

Abstract

As marketing products becomes pointless if the marketers are unaware of the consumers' needs and wants. Without the knowledge of the altering areas of behavioural sciences it would be complicated for marketers to identify the characteristics of their consumers and they would be unable to achieve maximum sales and product potential. In this essay the topic which will be discussed is consumers' needs and wants and the factor affecting causing constant change in consumer's behavior and its importance for the marketers.

Consumers' Needs and Wants

Introduction

'The study of consumer needs and wants is at this time seen as a 'behavioral or social science.' One important idea in economics is regarding needs and wants. Needs may be defined as goods or services that are required. This would embrace the needs for food, clothing, shelter, health care. Wants are goods or services that are not essential but that we desire or wish for. For example, one needs clothing, but one may not needs trendy clothes. One does not need plaything, entertainment, gems, etc. One needs provisions, but does not have to have steak or dessert. One does not need fascinating trips, mall shopping, etc.

For decades scholars and practitioners have been frustrated by the very capacity of either psychological or marketing models to predict customer needs and wants. It is essential therefore to try to clearly recognize the many problems, in trying to understand consumer behavior in a precise, reliable and significant way. This will be further analyzed in coming sections.

Discussion

In the past the theory of consumer needs and wants has come from psychology; however, with further study sociology, anthropology and economics also contribute. Behavior could be used as a means of segmentation, whereby buyers are divided into groups according to the attitude and behavior shown towards products and companies. This is influenced by factors that marketers cannot directly control (Zomke, 2001, pp 3-6).

Cultural Influences

People learn basic values, perception and wants from the family and other important groups. Cultural factors may influence marketing strategy planning, in terms of implementing the product locally or on an international scale.

'Culture can be investigated by using an inventory of value.' It exists to satisfy the needs of the people within the society, through beliefs, values and customs from the environment (Trustrum 2001, pp 56-99). Cultural behaviors dictate wine consumption with meals in France as against the drinking of water or soda in America. The marketer must therefore carefully monitor the socio-cultural environment in order to market an existing product more effectively or to develop promising new products.

Sub-cultures are a fertile area for 'niche' marketing and many forward thinking companies, like coca cola, have targeted the sub cultures excellently, as they create a substantial and distinctive market segment of their own, where various cultural celebrations as Christmas and Carnival are used for advertising campaigns. It should be noted that culture gives the marketer added challenges, as the religious preferences must also be ...