Need,Desire and Demand

Need, Desire and Demand. The fundamental of marketing is understanding clearly difference among these three. Needs are basic requirements of life like food, shelter and clothes, safety etc. they can also be identified with Maslow's primary needs or needs at the bottom most level. This is the level which is bare minimum to spend the life. Desires on the other hand are wishlist items that any human has. The wishlist can be end less. While Saints advise human being to spend their lives on needs and remain away from desires, it is the desire of products and services that is keeping the marketing alive and relevant. Imagine if everyone in this world is satisfied with needs fullfillment, who would then buy luxury products. Let us undetstand this by an example- One needs to eat food two- three times a day to satisfy his physical requirements so that he remains healthy. One may, on the other hand desire, to eat 36 varieties of food everyday. one may need only a few set of clothes, but may desire to have 100's of pairs of designer clothes. The marketing is based on the premises that one is not satisfied by fullfilling his needs only, and would buy if right kind of marketing is done to provoke him to buy. Some marketeers go to an extent of saying that they are expected to make people desire more any more. The example for this can be new age products like Mobiles, Laptops, PDA's etc. Do you think that there was a need of these products at the first place, or have these products and their features created their place in the market.

Then, what is demand? what is the difference between need , desire and demand ? we didn't ponder over this. It is actually simpler now to understand demand. The desire backed by ability to pay is demand. Let us see by an example- My transportation needs can be served by Maruti 800, I may desire to buy BMW, or Merc BenZ. Should BMW or Merc BenZ consider me into their potential customer list as of now. The answer is obviously a big NO. Even if I have desire to buy BMW, i dont have ability to pay. hence I am not a potential customer to BMW or Merc BenZ.

Now look at one of the applications of this concept in modern world. The financing option or EMI for your purchase of home, LCD, or a luxury car is basically providing you ability to purchase to convert desire to demand. the companies are gaining two fold in this, one they are creating new demand for their products and earning a commission through financing companies(Some companies have started their own fiancing divisions).

Needless to say: You may have something interesting to tell us. I have actually left a concept, related to need, desire, and demand. I expect that from you guys.

Marketing

My life and this blog would be incomplete if I don't write about marketing. I wish to add a few fundamental concept that I learn during my interaction with customers and marketing experts.Marketing and hence people who market, both are not always seen with a positive mindset. The reason of this approach is the buyer sees marketing as something which is not natural, or obvious or required. They seem to belive that marketing and marketeers are forcing products on the buyers. This mindset is substantiated with rapid, volumnous, and over communicating advertising of modern world. This is a seperate topic to discuss- I raise a question for sure on this whether marketing and markeer are getting the right respect and credit for their work , inside and outside the company. Let us discuss this now !!

Friends are forever

I met him at my current working place. we have many things in common. We are Punjabi, food freak- love Paratha, Rajma Chawal, Palak Panner, Sarso ka Saag, makai Ki Roti, the list goes on and on and on. There is in fact nothing that we dont like to eat. Talking about the common things, both of us are overweight by 10 kg , no marks to guess the reasons. look alike- all sardars and punjabis look alike- I guess. Another things in Common " Be Happy- Always", he almost remebers all the laugher challenge jokes and cracks them as part of his life. A real punjab da puttar and makes entry in life as Akshay Kumar does in Namaste London. We are still discovering more things in common ,,, Chak De Phatte !!!

Friends indeed !!
Can't imagine life without friends. Whether It is my age old friend Naveen in kanpur or my recent friends Krishnan CA and Parvesh.

Let me start with Krishnan.
I met him at Great lakes. He is 7-8 years younger to me. Our friendship started with his initiative for sure. We shared similar likings like marketing, strategy and were blessed with good anaylytical minds. Friendship doesnt happen without agreement at subconcious level, I think one of the important criterion for it is matching of intellectual level. We discussed all kinds of things including fundaas of life to reformulation of marketing stategy for "Small Business" to reinveting ways to impress girlfriends( For Krishnan obviously, i am already happily married), It is been a pleasure to interct with Krishnan. He is a joy to talk to, always positive and fits in "Be Happy - Always" criterion. He would always remain a close friend for me.

Be Happy - Always !!

We learn many good things through our childhood and continue to do so in our lives. Like we were tought to be honest and courageous, sharing and caring, fair to self and fair to all. But, these teachings seem to loose meaning everyday for me and I need to may be rediscover the meaning of these things. Sometimes I feel these things as benchmarks towards which I need to work all throughout my life.
Among all these I find a simpler thing which was tought to us- "Be Happy - Always". Please don't get offended - I mean simpler because it seems simpler to implement. But, beleive me it is one of the toughest lessons to imbibe in my life. Though I try to do full justice to "Being Happy". Everyone will have an interpretation of this, but the way in which I understand this is- "Being happy always" is a gesture to GOD that you have full faith in HIM, it also means that you have respect for HIS decision and have fully understood the fact that your life is a proper mix of pleasant and unpleasant experiences. Being Happy- Always simplifies life for you- in a way that it hardly matters for you what life brings to you. An easy cakewalk assignment at office, excellent perks in the job and exceptionally good relation with the boss OR a horrible opinion mismatch with parents and siblings, or someone close leaving you alone !! Does it sound bookish or may be extremely difficult.

I never said it is easy for me, only Saints can do that. We need to try and try to "Be Happy - Always". Please comment on this ...Your comments and suggestion are important for me and other visitors of this blog, Amit