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Determining Needs and Wants

Determining Needs and Wants. A need occurs when a person feels physiologically deprived of basic necessities What do you need?. Determining Needs and Wants. A want is a “felt need” that is shaped by a person’s knowledge, culture, and personality. What do you want?.

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Determining Needs and Wants

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  1. Determining Needs and Wants • A need occurs when a person feels physiologically deprived of basic necessities • What do you need?

  2. Determining Needs and Wants • A want is a “felt need” that is shaped by a person’s knowledge, culture, and personality. • What do you want?

  3. Determining Needs and Wants • Example – if you feel hungry, you have developed a basic need (food) and a desire to eat something • Let’s say you then want to eat a candy bar or an apple because, based on your past experience, you know these will satisfy your hunger need • Has marketing influenced this decision? To what extent?

  4. Determining Needs and Wants • Can marketing create a need/want for a good or service? • What are some examples? • An issue is whether or not marketing persuades prospective customers to buy the “wrong” things • Example – that “bad” candy bar rather than a “good” apple to satisfy hunger

  5. Needs and Wants • Why do we buy products and services? • Do we need them or want them? • Why are you wearing the shirt you are wearing? What message is your clothing giving off? • How does marketing make us NEED products and services?

  6. Needs and Wants: In Action • Get into a group of 4. • On your piece of paper create a lifeline from age 0 to the oldest person in your group. • Going through each life stage, list the needs and wants for that life stage. • Least two products for each need/want. • Be prepared to share your findings with the class.

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