Define want?

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Question

Define want?

Expert Solution
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The concept of want is one of the most important concepts in the subject of Marketing and Economics. The wants and needs of the customer become the driving force of all businesses because products cannot be sold without customers having a want for it. The needs of the human beings are unlimited in nature which convert into wants when their basic needs of food, clothing and shelter is fulfilled. 

The desire to satisfy the needs above the basic needs of food shelter and clothing is called a want. Wants become the basis of continuous invention in the field of manufacturing of products and services. Marketing activities cannot be performed in the absence of wants. The wants of people depend upon various factors such as culture, religion, personality and social class. 

 

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