the ultimate goal of the marketing process is to do which of the following This is a topic that many people are looking for. star-trek-voyager.net is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, star-trek-voyager.net would like to introduce to you Needs Wants Demands the marketing process First stage of the marketing process model . Following along are instructions in the video below:
“R. Rahman r. Rahim salam alaikum. Everyone i hope that you people are well in in my today s video.
I m going to explain the model that i discussed you in my last video. The model was about the marketing process well there were five steps if you remember the first four steps were related to capturing creating and capturing value from customers. Whereas. The last stage of the model was related to the company where the companies try to convert the value from the customers into profit.
The first step of that model was understanding the market place and customers needs and once so my today s video would be about understanding the needs and wants of the customers..
And i will add one more topic with that and it is called demand so today. I m going to talk about three important topics. The needs wants and demands okay so the first one is needs if you remember in one of the videos. I also briefly discussed with you what needs are needs or something basic now in order for the company to target you the companies have to find out your unfulfilled needs and wants needs are something which are already there the marketers don t have to create the companies don t have to create them in the book of armstrong and cutler.
There are three types of needs explained. The first one is called physical need the second one is called social need and the third one is called individual needs so physically needs social needs and individual need physical needs are those needs. Which are related to food clothing. Safety.
Social needs are those needs. Which are related to belongingness and affection. Whereas. The last one which are the individual needs they are related to knowledge and self expression.
I would recommend you two go through a very important theory of needs that s a very famous theory is called the hierarchy of needs in some books. Is by maslow abraham maslow. The killing of abraham maslow. You will see that there are five important types of needs that are explained in the theory of abraham maslow and they are in step.
They are in order..
So that theory states that for us to go to the upper level of needs our lower of level of needs must be fulfilled for example. The physiological needs or the first needs to be fulfilled the physical one followed by for example. The social needs and so on and so forth so go through that particular theory as well and maybe in some coming video. I will just talk about that muscular theory of need as well so we need is what the state of self deprivation.
Now let us go to the next one. What do you mean by wants wants are the desires ones in simple words. Our upgraded needs. When your needs are grooved by changed by design by your culture and your personality.
That becomes you want the last..
One is demand. What is demand demands are those human wants which are backed by a buying power when you have a want when you have a wish and you have money to buy a product to satisfy you or that wish or that want you will create something in the market. Which is called demand under the definition of demand that i can give you is a demand is a consumers and desire and ability to purchase a particular product or service. So today.
I discussed with you three things needs wants and demands in the coming video. I will explain step number two of the marketing process model. If you have any question you can ask me about these three and we ll discuss it more thank you so much see you in the next video bye. ” .
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