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Marketing starts with human needs and wants that are not created either by the society or by marketers. There are differences and relationships among needs, wants, and demands. People need food, air, water, clothing, and shelter to survive. These basic human requirements are the needs. They are states of felt deprivation. After the basic requirements, comes the extended form of needs such as health and education. Marketers play a key role in creating needs that form a natural default requirement of every person.
These needs become wants when they are directed towards specific objects that help in satisfying the needs. Wants are continuously shaped by culture and individual personality. Marketer aims that everyone feels that these wants should become an obligatory part for human beings. Mobile, internet, variety of foods come under the category of wants.
Wants become demands when backed by an ability and willingness to purchase them. When a person wants something and he also has the ability to buy it, then his wants are converted into demands.
The needs, wants and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. These are targeted by marketers for the purpose of business.
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