Customer needs are essential requirements – they are considered necessary to well-being. Customer wants are non-essential desires (thought to be unnecessary) but pleasurable to have.
Goods and services offered by businesses will address either customer wants or needs. In other words, providing essential or non-essential value.
Needs
- Functional fit: Is it fit for purpose?
- Price: Is it affordable?
- Performance: Is it functional?
Wants
- Reputation: Is it considered aspirational among peers?
- Beauty: Is it aesthetically pleasing?