Jargon of the Day - Needs, Wants, Demands

We will be starting we the very basics or rather with what some say is the first step in marketing-Needs, Wants & Demands.

Needs - Needs are basic himan requirements e.g. Food

Wants - Need for specific objects to satisty specific needs e.g. Wanting to eat at a 5 star

Demands - Wanting something and being able to afford it. e.g. wanting to and being able to afford food at a 5 star

Welcome to the Jargon World

Hi Everyone

I am Adarsh Sharma, an MBA from Indian Institute of Management Indore, India. After my two years at B-School, I have realised that MBA is all about doing and saying what everyone knows but using jargon and fancy words in the same. So, I will be sharing such words with you on a daily basis through "MBA-Jargon of the day."

P.S.-Maybe helpful for some job interviews as well :)