Hello and greetings to the wonderful people of the Project.Hope community.
It has been a pleasure posting here in the project.Hope community under the leadership of @crypto.piotr who has ever been so kind, responsible and supportive in every related matter.
Today in this post i am gonna discuss the cores of Marketing.
From the basics considering Relation between demand and wants , to market penetration, product development and secondary data.
Lets begin with the Relationship between DEMANDS AND WANTS:
DEMAND:
WANTS:
Keeping the keyword marketing under mind, below are the little description of demand and wants.
Wants are referred to as desires that the person wishes for. These are not always what the customer
wants to buy but has a solid wish to have it with them.
Demands are desires of specific products for which the customer is willing to pay for in order to buy it.
Demands are of those goods which provide maximum satisfaction.
RELATION BETWEEN DEMAND AND WANT:
The relation between demand and Want is of Money,
If a person has money to buy the desired product, then it is said to be demand but if the person only wishes for such specific products and can not afford to buy it, then it is said to be a want.
In general marketing, the relation between demand and want can be provided as the availability of money.
If a person has enough money to buy the product, he/she demands for, if not, then it is considered as a
want.
Let's keep it short and move towards SECONDARY DATA AND ITS USAGE:
SECONDARY DATA:
Secondary data is to be used as the baic and starting point for business to begin marketing research because it is much easily available.
It is the data that is collected by someone else and is sold at
considerable prices to the companies who are looking for market research.
Secondary data Is available in other researches as well and can be used at other places and also in order to make the analysis on collection of primary data.
Secondary data do not give us latest information but the information that has already been used
somewhere else.
The secondary data is relatively cheaper than primary data, less efforts are required in order to gain secondary data and also time and money,
therefore secondary data is much preferred to be used as a starting point in the ,marketing research by many local or international businesses.
Here i would like to end my post and would love to see all of you in the comment section,
Special greetings to the members here from the New york if any :p
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