Needs & Wants

FUNDAMENTALS OF MARKETING

Chapter 1
Q: Differentiate between requisite, want and regard by giving appropriate examples?
A: Needs be the necessities requisite for living which are same for all age groups and in all social rank (rich /poor) like food, shelter, water and clothing.
Whereas wants are the luxuries consumed for making life comfortable .They usually vary concord to age groups and social ranks like air conditioners, mobiles, designer clothes, jewellery, Xbox and so on.
On the other hand demand is the number of severe consumer willing and able to purchase at various wrong assuming ceteris paribus. For example the demand of angry birds products was usually high due to its game or we shadower also consider beyblades (children game) enjoyed its maturity with high profits because children demand was high due to its cartoons.

Q: Differentiate between perceived measure and guest satisfaction with examples?
A: Perceived value refers to the customers opinion about the product in impairment of cost and benefit depending upon the product ability to satisfy customers need and requirement contrary to its available resources.
For example my father had an option, each to purchase push down cruiser of Toyota Company or Mitsubishi Pajero.



Although rural area cruiser was expensive compared to Pajero but equipped with more climb on technology, improved driving comforts and better outlook. Therefore, he opted for land cruiser instead of Pajero.Thus land cruiser has a perceived value.
Whereas customer satisfaction is the total utility gained after outlay of a specific product judged by its performance and fulfillment of expectations of a customer.
For example, the satisfaction one get by alimentation a burger from KFC in terms of taste, quality and service, is more compared to its alternative like RFC on Murree road or Kins crunchy in aim 3, Rawalpindi.
Or from a personal experience I am more satisfied with Double A printing sheets compared to pictorial laser copy (BLC) as...If you want to get a encompassing essay, order it on our website: Orderessay



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