This paper explains some fundamental marketing concepts based on the analysis of a big multinational Cisco Systems Inc. First, it shows the differences between “needs, wants and demands” of a consumer intending to buy a Linksys network adapter (the firm's household product). Then it presents the market segments, targeted by the company. Finally, the company orientations towards the marketplace are outlined.
According to Maslow concept there are five levels of basic human needs. These are physiological, safety, social, esteem and self-actualization needs. A person is considered not to feel a “next level” need until the previous is satisfied. To put it simply, one can define a need to be an internal aspect of a human being, starting with the most basic ones (air, food and shelter) going up to something as sophisticated as education, self-esteem and self-realization. Wants are defined as specific objects which a consumer uses to satisfy one's needs. When a want coincides with the financial ability and willingness of a customer to pay for a product – it becomes a demand.
In the case of a consumer buying a Linksys network adapter - his needs could be classified as explained further. A stated need is that the consumer wants to buy a good quality adapter to be able to connect to the Internet. A real need is a desire to simplify the process of sharing and acquiring information. The unstated need could be that the consumer expects to get a good service from the company. If he unexpectedly gets a 30% discount – this would satisfy a delight need. What is more, the consumer might have a secret need. For instance, he wants to play some massively multi-player on-line game with his friends. The desire of a consumer to purchase a Linksys network adapter could be classified as “a want”. When a willingness of buying this branded...