Definition:
Needs describe basic human
requirements such as food, air, water, clothing, and shelter. People also have
strong needs for recreation, education, and entertainment.
These needs become wants when they are directed to specific
objects that might satisfy the need.
Demands
are wants for specific products backed by an ability to pay.
Parable:
It
was during my Summer Internship days, in the scorching heat of Nagpur, I was
wandering from one retailer to another, with a questionnaire in hand and hunger
in my belly. The hunger was not figurative, but literal. It was 2’o clock in
the afternoon and the breakfast I had in the morning was nowhere to be found by
my body for the extra bit of energy. I needed
something to eat, I didn’t know what exactly, but yes my body was craving for
some food.
I
gathered whatever last bit of energy was left in my body and moved towards the ‘Food
Street’. Too many brands, too many stores, too many dishes, I was confused.
After browsing through quite a few menu lists, my eyes got stuck on a delicious
looking Burger, I needed something
to eat and when I saw the burger, I knew what I wanted.
I
checked my pocket for the money. I had some change, but the change could never
have totaled to the price of the burger, I didn’t have the power to purchase it, so I couldn’t demand a burger there. Then I realized, I had my debit card! The
marvels of the new age, can sometimes bring tears to your eyes. I had my unfulfilled
need, I wanted a Burger and with the power provided by my card, I could demand it from the shop.
