Difference between need want and demand*******************************************************************************
marketing is all about identifying the needs of the customer and fulfilling the needs of the customersneeds are basic human requirements you need you need food clothing shelter food to survive you also need education as well as entertainment Once it is needs a specified by you this become wants
for example if you are hungry you wanted to eat something you wanted to have a burger you wanted to have a corn flakes you wanted to have a masala dosa so that becomes your wants
want is directed by our society and culture in India in the breakfast you will find aloo paratha masala dosa idli while in USA America you will find cornflakes and milks
wants become demand when it is backed by ability to pay
everybody want to buy Mercedes but everybody cannot able to pay for the Mercedes or everybody cannot afford it that's why only those wants which are backed by purchasing power will be calculated as demand
for example everybody would like to have a Mercedes or BMW or it may be just want for a customer from the customer if it is not backed by the ability to pay
If the customer is able to purchase the car then it may be calculated as a demands and
In marketing we are concerned more about demand for a marketer demand is very very important it plays a great role in managerial decision making it
has to forecast the demand while doing the stratgeic marketing and planning that's why it is very very relevant in each and every company
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