Does Marketing Create or Satisfies Needs?

Does Marketing
Create or Satisfy Needs?

Prepared for:
Prof. Mizanur Rahman, PhD, MBA

Prepared by:
Rezaur Rahman
Partha Sarkar
Sharif Rahman
Mohammad Zulfekar

9 November 2013

EMB 520, Fall 2013
North South University

Does Marketing Create or Satisfy Needs?

We understand “Needs” are the basic human requirements and sometimes also referred to as the “states of felt deprivation”. That means if needs are not fulfilled it may cause a negative outcome like dysfunction or even death. In fact both human beings and their “Needs” came hand-in-hand, 4-5billion years ago on this earth. However, the Intellectual Needs as stated by Karl Marx in 1844 or more recently the Maslow’s hierarchy proposed by Abraham Maslow in 1943 further synthesized the term “Need”.

So taking all the theories of “Need” into consideration, we can argue that it is the marketers who actually conducted further research and sought customers’ insights and divided Needs into five different categories. They are: 1) stated needs, 2) real needs, 3) unstated need, 4) Delight needs, and 5) Secret needs. Having said that, we tend to believe that with the advent of newer technologies, besides satisfying basic needs, marketer also create needs.

If you will remember two recent stories of China, it will be easier to accept our proposition. One person sold his/her kidney and another one sold his/her new born baby to get a latest version of iPhone. So who do you think created this need for which people are ready to die? As far as we general people are concerned, we have need of electronic gadgets.   We all need a mobile phone to get instance access and have faster communication. Understandably marketers combined our needs for all gadgets and created a need for a smart phone by putting everything together e.g. a phone, a post office (texting), bank, an organizer, map, camera, TV, Radio, games, music and many more.  

Recently, hundreds of people in Narayangonj attacked United...