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Questions and Answers
What is the difference between needs and desires?
What is the difference between needs and desires?
- Needs are the materialization of the will to satisfy a desire, while desires are basic human requirements.
- Needs are quantified wants, while desires are basic human requirements.
- Needs are basic human requirements, while desires are the materialization of the will to satisfy a need through a specific product. (correct)
- Needs and desires are the same thing.
What are the different types of needs?
What are the different types of needs?
- Stated, real, and unstated
- Delight or unexpected, and secret (correct)
- Rational and emotional
- Geographic, demographic, and psychographic
What is exchange?
What is exchange?
- The act of obtaining a desired object from someone by stealing.
- The act of obtaining a desired object from someone by force
- The act of obtaining a desired object from someone by offering something in return. (correct)
- The act of obtaining a desired object from someone without offering anything in return.
What is segmentation?
What is segmentation?
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What are the different methods used for segmentation?
What are the different methods used for segmentation?
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What is targeting?
What is targeting?
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What is synchro marketing?
What is synchro marketing?
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What is demarketing?
What is demarketing?
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What are rational needs based on?
What are rational needs based on?
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What are emotional needs based on?
What are emotional needs based on?
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Study Notes
- Marketers cannot create needs, only desires.
- Needs are basic human requirements, desires are the materialization of the will to satisfy a need through a specific product, and demand is quantified desire or want for a specific product based on the ability to pay.
- There are different types of needs, including stated, real, unstated, delight or unexpected, and secret.
- Rational needs are based on objective measures, while emotional needs are based on personal, subjective criteria.
- Exchange is the act of obtaining a desired object from someone by offering something in return.
- Segmentation is dividing a market into distinct groups of customers with different characteristics, needs, and behaviors.
- Geographic, demographic, psychographic, and behavioral segmentation are different methods used for segmentation.
- Targeting involves evaluating each segment's attractiveness for the company and selecting one or more segments to enter.
- Synchro marketing involves finding ways to alter the time pattern of demand through flexible pricing, promotion, and other incentives.
- Demarketing involves finding ways to reduce demand temporarily or permanently, such as through general marketing and reducing promotion and service or selective demarketing.
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