Customer Needs And Wants Flashcards, test questions and answers

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What is Customer Needs And Wants?

Customer needs and wants are two distinct concepts in the world of marketing. Needs refer to a customer’s basic requirements, while wants refer to the desires and preferences that help shape a customer’s purchase decisions. Understanding the difference between these two concepts is essential for any business looking to develop an effective strategy for engaging customers.Needs represent what must be fulfilled for a customer to consider their purchase successful. For example, if someone buys a pair of shoes from a store, they may need them to fit properly and provide comfort when worn. Other needs might include durability or price all of which must be met before the customer considers their transaction successful. Wants go beyond basic needs by tapping into deeper motivations such as personal tastes or lifestyles. For example, someone buying shoes may also want them in a certain color or style because it resonates with who they are as an individual. They may even look at specific brands as offering higher quality products than others; this reflects an emotional connection rather than just fulfilling functional requirements like size and comfort level (which fall under needs). As businesses seek more effective ways of connecting with customers, understanding both their needs and wants is critical in order to create tailored experiences that drive loyalty and repeat purchases over time. Companies should strive to identify how each category plays into engagement across all channels from product design and packaging through advertising campaigns to ensure that all messaging speaks directly to what motivates consumers on both levels so that desired outcomes can be achieved easily and seamlessly every time.