Needs versus Wants of MOUNTAIN DEW, NIKE SHOES and IPOD
INTRODUCTION
There are N number of products under various categories in the market. But how many of them are successful is a fact that needs to be analyzed. The customer can view only the end product. But the actual fact behind the success of the product is invisible to the customer. One of the most important factors that lead to the success of the product is Marketing. The term marketing revolves around three basic principles –“Needs, wants and demands”. It is very important to understand the difference among the three before identifying the needs and wants of our examples Mountain dew, Nike shoes and IPod.
Needs: Human needs are basic requirements Human needs are the basic …show more content…
Besides meeting this common expectation, Apple made listening to music interesting but adding its own flavor of brand, quality, style and varieties. The product comes in so many customized fashions that everyone would have one to choose from. The wide range of products like iPod shuffle, iPod nano, iPod mini, iPod touch, iPod shuffle etc, it satisfies a wide range of customers form different categories as well. Not just the product, even the accessories are so stylish and they serve multipurpose apart from music that people would want to buy an iPod in their lifetime once. Such needs and wants of the customers made the company grow beyond just meeting the customer’s expectation and come with new features every time.
CONCLUSION
All these summarize and narrow down to the fact that for a company to be successful and to survive in the market race for a longer time maintaining its reputation and quality, it has to always be able to meet the needs of the customers, which are the basic requirement of the product like purpose, quality and affordability, and wants of the customers, which would reflect their personality, style, pride and reputation. Ultimately the customer decides if he or she buys the product. In order to convince the customer buy the product, there has to be the perfect balance of the needs and wants requirements. All the three example companies have understood this basic principle and have made a perfect blend of the requirements to offer the best