Product and Services

A product is anything that can be offered to the market for attention, acquisition, use, or consumption and that might satisfy a need or want. The concept of product is not limited to physical object and can include persons, places, organisation, activities, and ideas. Be careful of paying attention to the product and not benefit being satisfied. Services are activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything. Examples would include banking, airline, hotel, tax preparation, and repair services. "Marketing myopia" is caused by shortsightedness or losing sight of underlying customer needs by only focusing on existing wants.

Needs Wants And Demands

Needs are states of felt deprivation.Human has many complex needs. These are physical need for food, clothing, warmth and safety etc. Social needs for belonging and affection; and individual need for knowledge and self-expression. When a need is nor satisfied, a person will try either to reduce the need or look for an object that will satisfy it. Wants are the form taken by human needs as they shaped by culture and individual personality. Wants are described in term of objects that will satisfy the needs. As a society and satisfaction for their money. When back by buying power, wants become demand.

What Is Marketing?

Marketing are satisfying customer needs. If the marketer does a good job of understanding consumer needs, develops product that provide superior value; and prices; distribution and promotes them effectively, these products will sell very easily. The aim of market is to make selling superfluous. The aim is to know and understand the customer so well that the product or services fit. Marketing mix set of market tools that work together to affect the market place. Marketing is define as a social and managerial process by which individual and group obtain what they need and want through creating and exchanging product and value needs, want, demand; product; value, satisfaction, and quality exchange, transaction and relationship, and market.