Which one of the following is an example of ‘Real needs’ of a customer?

Question

Question

This question was previously asked in

UGC NET Paper 2: Management July 2018

Answer 1

The correct answer is The customer wants a car whose operating cost, not the initial price, is low.

Additional InformationIn a consumer market, it is necessary to understand the three important things of your target customers. These are:

1. Needs: Need is something that is essential to life. It varies according to different situations.

E.g. The customer wants a car with a low operating cost, not an initial price, which is low. It's a genuine need of the customer.

2. Wants: Something which is not essential but gives satisfaction to the customer. Eg. The customer expects good service from the dealer.

3. Demands: Something that you want to and are able to pay for.

E.g. Buying a Mercedes car.

Hence, the correct answer is "The customer wants a car whose operating cost, not initial price, is low".