0:00 - Intro1:21 - Marketing Needs2:23 - Difference between needs and wants5:02 - Maslow's hierarchy brief introduction6:23 - Difference of Demand from needs.. Needs, Wants and Demands are a part of basic marketing principles. Marketing strategies should be based on your target market's needs, wants, and demands. Marketing is all about identifying and fulfilling the needs of the customer. The needs are basic human requirements. There are three important concepts in marketing: needs, wants, and demands.

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Needs, Wants, and Demands. Needs wants and demands are a part of basic marketing principles. Though they are three simple words, they hold a very complex meaning behind them along with a huge differentiation factor. In fact, a product can be differentiated on the basis of whether it satisfies customer's needs, wants or demands.. A demand is a desire of the customer which is backed by buying power. Example a Super car or Luxury handbags. The needs, wants and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. Thus the flow is like this. Here is a video by Marketing91 on Needs Wants.