Marketing
“Marketing Reflects the Needs and Wants of Consumers”
In today’s society it is vital that companies understand the needs and wants of the consumer. Corporations are consumer driven. In order for a corporation to make a profit and sell products, they must produce products that are a reflection of the needs and wants of the consumer.
Marketing is driven by the needs and wants of the consumer. According to Kotler and Keller (2009), the purpose of marketing is about “identifying and meeting human and social needs” (p. 5). Needs have been defined as the “basic human requirements” such as air, water, nutrition, clothing and shelter (p. 12). A need becomes a want when directed to certain identifiable objects that will satisfy the need (p.12). The objectives of marketing are to identify the needs and wants of a target market and then create or promote a product in turn creating a demand for the product. According to Kotler and Keller (2009), Marketers do not create needs, the needs preexist the markets (p. 12).
It has been studied and shown that marketing research is merely a reflection of consumer’s wants and needs (George and Chrisa, 2007, p.587). Companies in today’s society are looking to gain a competitive advantage in the market. In order to gain that competitive advantage, they must use marketing research to fully understand the wants and needs of the market (p. 587). A marketing manager must understand the basic needs of a population. In order for a company to identify the needs, research is conducted by surveys, polling, and scan data. To create new customers benefits, marketers must understand what the customer thinks about, wants, does, and worries about (Kotler and Keller, 2009, p. 39).
Once all the information is gathered and complied a company will evaluate it to further understand the target market (George and Chrisa, 2007, p.589). From the information a company will be able to identify the likes and dislikes, the current...
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