Asked by Mashudu Daniel Rambau on Jul 15, 2024
Verified
How are consumer wants different from consumer needs?
Consumer Wants
The desires or needs that drive individuals to purchase products or services.
Consumer Needs
The desires or necessities that consumers seek to fulfill with products or services.
- Comprehend the function of product value and the notions of pricing as components of the marketing mix.
Verified Answer
AL
Andre Loveheart London
Jul 18, 2024
Final Answer :
A need is something that is required or necessary such as food, clothing, shelter, health care, and safety. If a person does not have it, he or she will feel deprived. A want is a need that is determined by personality, culture, and buying situation.
Learning Objectives
- Comprehend the function of product value and the notions of pricing as components of the marketing mix.