Principles of Marketing

Basic elements of Marketing

Fundamentals of marketing

Open Ended

What is a marketing offer?

Can you think of any example of this?

Needs, wants and demands

• Human needs are states of felt deprivation or feeling of being deprived of something. If unsatisfied, it leaves a person unhappy and uncomfortable.

Human wants

Wants are the form human needs take as they are shaped by culture and individual personality.

As a society evolves, the wants of its

members expand.

Demands

When backed by an ability to pay – that is, buying power – wants become demands.

Multiple Choice

It represents a state of felt deprivation

• Human need

• Human want

• Demands

Fill in the Blank

When backed by a buying

power wants become _____________.

Multiple Choice

Which photo is an example of a human want?