Definition Of


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

By Example - An American needs food but wants a Big Mac, French fries, and soft drink. A person in Papua New Guinea needs food but wants taro, rice yams and pork.

Wants are shaped by one’s society and are described in terms of objects that will satisfy those needs.

Share it:

More from this Section

  • Workload method
    Workload method is an approach to determining sales force size based on the workload required and the time available for selling.
  • The buying process
    The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli. With an internal stimulus, one of the ...
  • Product quality
    Product quality refers to the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
  • Internal marketing
    Internal marketing means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team...
  • Target costing
    Target costing— pricing that starts with an ideal selling price based on customer considerations and then target costs that will ensure that the price met.
  • Management contracting
    Management contracting refers to a joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the capital...
  • Parent brand
    Parent brand is an existing brand that gives birth to a brand extension or sub brand.