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Business Strategy with Hirav Shah MARCH 24, 2023 | The Indian Eye 30

Sales and Marketing Strategy

in Business: NEED vs WANT

A NEED is something necessary to survive, necessary to live and to function.

A WANT is something your desire or it may enhance the quality of your life

HIRAV SHAH

D on’t you focus more on the
wants? You do, right?
Using these criteria, the
needs include a balanced nutrition,
quality sleep for 8 hours, adequate
exercise, a consistently-routine life
while wants include bad food habits,
no sleep, no exercise, no routine and Most businesses sell services or products that satisfy basic human requirements. For the most part however,
no consistency. consumers tend to buy on emotion (Representative photo)
Now, a good trick for dividing
needs and wants is to let some time
pass before fulfilling your item’s de- son. products that satisfy basic human tially. Yes, and slowly but steadily,
sire. With time, the desire for a need 3. Priorities may defer: In a hierar- requirements. For the most part convert into the “customer needs”.
will grow stronger, while the desire chy, it works. Higher level needs however, consumers tend to buy on For most businessmen/entrepre-
for a want will weaken with passing only come into picture after more emotion. In other words, they buy neurs the best and the only way to
time. important/lower-level needs are according to their wants. The con- convert “wants” to “needs” is to take
Everyone usually aspires around fulfilled. sumer looking for a new car might a proper direction from an expert or
the wants. While most forget to en- 4. Needs are inter-connected: Each want an automatic transmission, take an expert opinion.
sure the basic needs, which are the need that is fulfilled gives rise to a metallic paint, five-star safety rating,
building blocks to achieve their new one till the individual achieves etc. Conclusion
wants. Needs are consistent. In that the self-actualization level. In the business world, it is cru- Simply put, want is one step
they never really go away. Wants are cial to understand the difference ahead of the need. For humans to
immediate, momentary, can change Features Of Wants between the wants and needs of the survive, wants are not essential…
quickly and may not re-occur regu- 5. Wants are unlimited: Wants arise target audience. Customer needs are But yes, wants are certainly associat-
larly. from the available choices. Hence, essential for business sustainability, ed with needs.
wants are unlimited. while customer wants provide criti- In a nutshell, want is a product
Features Of Needs 6. Wants compete: Wants don’t work cal marketplace differentiation for desired by a customer that is not
1. Needs are crucial: They are essen- in a hierarchy. They compete with the business itself. required for survival. However, to
tial for survival or to prevent ad- one other. Ok, in a business–sales and mar- understand the needs of the custom-
verse results. They’re universally 7. Wants aren’t universal: Different keting, if you only concentrate and er, it’s imperative to take an expert
essential. folks may have different wants de- focus on selling the “needs’”, then opinion.
2. They may be stimulated by inter- pending upon the available choices you won’t achieve your targets. For-
nal or external factors: Climate and other factors. get targets, you might end up “not
change (external factors) and dis- selling” also. So, what’s the use… The writer is a well-known Astro
ability (internal factors) might In The Business World So, the trick is to focus on the Strategist and Business Astrologer
stimulate a new need within a per- Most businesses sell services or “consumer wants” to start with, ini- Email: [email protected]

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