Marketing and New Communications Technologies

CHAPTER 1 1)Briefly compare and contrast the concepts of needs, wants, and demands, giving an example of each. reason how these concepts relate to marketing practices. Needs are states of deprivation. For examples, physical needs for food, clothing, warmth, and preventive social needs for belonging and affection and individual needs for familiarity and self-expression. Wants are the form that needs take as they are influence by cultural and individual personality. For example, an Ameri finish needs food nevertheless wants a Big Mac, french fries, and a soft drink.Demands is wants backed by buying power. For example, given their wants anfd resources, people demand products with benefits that add up to the nearly value and satisfaction. Outstanding marketing companies go to great lengths to learn rough and understand their customers needs, wants, and demands. They conduct consumer research and analyze mountains of customer data. 2)In a trivial essay, discuss the challenges and advantages that new communications technologies have created for marketers.The new communications technologies has provided marketers with elicit new ways to learn about and track customers and create products and serve tailored to individual customer needs. Its helping marketers communicate with customers in large group or one-to-one. Marketers also can create their bear detailed customer databases and use them to target individual customers with offers designed to come across their specific needs. For example, by using the Internet, a direct marketer can tap into online data service to learn anything from what car you drive to what you represent to what flavor of ice cream you prefer.