Business Strategy with Hirav Shah A NEED is something necessary to survive, necessary to live and to function. A WANT is something your desire or it may enhance the quality of your life
Don’t you focus more on the wants? You do, right?
Using these criteria, the needs include a balanced nutrition, quality sleep for 8 hours, adequate exercise, a consistently-routine life while wants include bad food habits, no sleep, no exercise, no routine and no consistency.
Now, a good trick for dividing needs and wants is to let some time pass before fulfilling your item’s desire. With time, the desire for a need will grow stronger, while the desire for a want will weaken with passing time.
Everyone usually aspires around the wants. While most forget to ensure the basic needs, which are the building blocks to achieve their wants. Needs are consistent. In that they never really go away. Wants are immediate, momentary, can change quickly and may not re-occur regularly.
Features Of Needs
1.Needs are crucial: They are essential for survival or to prevent adverse results. They’re universally essential.
2.They may be stimulated by internal or external factors: Climate change (external factors) and disability (internal factors) might stimulate a new need within a person.
3.Priorities may defer: In a hierarchy, it works. Higher level needs only come into picture after more important/lower-level needs are fulfilled.
4.Needs are inter-connected: Each need that is fulfilled gives rise to a new one till the individual achieves the self-actualization level.
Features Of Wants
1.Wants are unlimited: Wants arise from the available choices. Hence, wants are unlimited.
2.Wants compete: Wants don’t work in a hierarchy. They compete with one other.
3.Wants aren’t universal: Different folks may have different wants depending upon the available choices and other factors.
In The Business World
Most businesses sell services or products that satisfy basic human requirements. For the most part however, consumers tend to buy on emotion. In other words, they buy according to their wants. The consumer looking for a new car might want an automatic transmission, metallic paint, five-star safety rating, etc.
In the business world, it is crucial to understand the difference between the wants and needs of the target audience. Customer needs are essential for business sustainability, while customer wants provide critical marketplace differentiation for the business itself.
Ok, in a business–sales and marketing, if you only concentrate and focus on selling the “needs'”, then you won’t achieve your targets. Forget targets, you might end up “not selling” also. So, what’s the use…
So, the trick is to focus on the “consumer wants” to start with, initially. Yes, and slowly but steadily, convert into the “customer needs”. For most businessmen/entrepreneurs the best and the only way to convert “wants” to “needs” is to take a proper direction from an expert or take an expert opinion.
Simply put, want is one step ahead of the need. For humans to survive, wants are not essential… But yes, wants are certainly associated with needs.
In a nutshell, want is a product desired by a customer that is not required for survival. However, to understand the needs of the customer, it’s imperative to take an expert opinion.
The writer is a well-known Astro Strategist and Business Astrologer
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