Which of the following statements best defines needs and wants?
A)Needs are far more influential in marketing decision making than wants are.
B)Wants affect marketing decisions primarily on planned purchases, while needs affect marketing decisions primarily on spontaneous purchases.
C)Wants occur when a person feels physiologically deprived of something and needs are determined by a person's knowledge, culture, or personality.
D)Needs occur when a person feels physiologically deprived of something, and wants are determined by a person's knowledge, culture, or personality.
E)Needs and wants are exactly the same; they are both easily manipulated.

Question

Quizplus · Accepted Answer

Needs are basic requirements for survival and can be physiological or psychological in nature. Wants, on the other hand, are desires or aspirations related to improving one's quality of life. They are determined by a person's knowledge, culture, or personality. Therefore, needs and wants differ in terms of their basic nature and the motivation behind them. Marketing decision making takes into consideration both needs and wants of the targeted consumers.

Which of the Following Statements Best Defines Needs and Wants