Customer needs and values

Question 1

Needs

Answer 1

• Human needs are states of self deprivation
• Physical needs: food, clothing, warmth and safety
• Social needs: belonging, affection
• Individual needs: knowledge, self-expression

Question 2

Wants

Answer 2

Forms human needs take as formed by culture and individual personality.

Example - People who need food but want:
Germany: sauerkraut, sausage, beer
Papua New Guinea: taro, rice, yams and pork
England: Cucumber sandwiches, tea

Wants:

• Shaped by society
• Described in terms of objects that will satisfy needs

Question 3

Demands

Answer 3

• Wants backed by buying power become demands
• Using their wants and resources, people demand products and services with benefits that add up to the most value and satisfaction

Question 4

Define market offerings

Answer 4

Some combination of products, services, information or experience offered to a market to satisfy a need or want.