Marketing - What are Consumer Needs? (Social, Functional, Hedonic, Cognitive, Social Responsibility)

You may have been enticed to visit McDonald’s after seeing its delicious offerings in an advertisement. After tasting it, you might feel satisfied because it fulfilled your needs. This highlights the importance of understanding consumer needs for developing effective marketing strategies. By identifying consumer needs, marketers can offer products and services that satisfy their target consumers. Moreover, marketers can even uncover and arouse consumer needs that consumers may not be aware of yet. There are many different types of consumer needs that can be identified. So, what are those consumer needs, are there some real-world examples? In this video, I will discuss consumer needs and their marketing implications with you.