:
Needs, Wants, Desires
A need is a basic requirement, essential for a person's physical and psychological well-being.
A want is an upgrade of a basic need influenced by a person's knowledge, culture, or personality.
And desires are wants that are activated by promotional strategies and branding.
Ray-Ban offers a compelling example of how marketers leverage this understanding to deliver superior value to customers.
At the need level, Ray-Ban ensures UV protection and glare reduction, like most sunglasses.
But, it goes beyond mere functionality by incorporating stylish designs, diverse lens options, and an iconic brand image, transforming sunglasses from a necessity into a fashion statement. This caters to customer wants.
Further, Ray-Ban skillfully creates a desire for sophistication and style through celebrity endorsements and influencers.
And launching new products like smart glasses makes the brand appealing to individuals desiring a blend of style, quality, and technology.
This shows that understanding the distinction between needs, wants, and desires helps businesses tailor their products and services to exceed customer expectations.
Needs, Wants, Desires
Needs are the basic, often essential, requirements for survival and well-being. These are fundamental necessities an individual must have to live a healthy and fulfilling life. In marketing, understanding these needs helps design products or services that fulfill these essential requirements. For example, food, shelter, clothing, and healthcare are primary needs.
Conversely, wants are the goods or services that individuals require beyond their basic needs. These are shaped by a person's culture, society, and individual personality. For instance, while a person needs transportation, the desire for a specific car brand or model represents their wants.
Desires go even further. They are a step beyond wants and often involve emotional connections or aspirations. They're not always essential for survival or daily life, but they hold significant value for an individual. Marketing often plays a role in creating, influencing, or fulfilling desires. For instance, a person may desire a luxury car for transportation and the status and prestige it brings.
Understanding and addressing consumer needs, wants, and desires through effective branding and storytelling is crucial in marketing. Marketers can better position products or services by acknowledging these distinctions, creating more effective strategies and campaigns that resonate deeply with the target audience.