Need vs Want
May 5th, 2009
posted by: Craig Johnson | 3 Comments »

I read this article in the Economist last week and thought it posed a critical viewpoint for companies and marketers as we prepare to come out of a recession.  

People are going to come out of this recession more aware of what they really need.  In recent history, the line between need and want has been very blurred.  But now we’ve been burned.  People are realizing more and more the importance of saving for a rainy day and asking ourselves “Do I really need this?” before we make a purchase.

Now more than ever, we need to make sure that we’re making products and offering services that truly add value to one’s life and not just one’s ego or self-esteem.  I for one, am excited for the accountability this brings to us as marketers as well to not fluff up a story, but unveil the truth.

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3 Comments

"A very wise individual once told me that as marketers, it is our job to create a world that our audience never knew existed but cannot live without. This is where they find the need.

It's encouraging to see someone look at these times as a challenge to step up their game, instead of placing the blame on someone else. So kudos."
- Amber Luke
"Hey Amber, thanks for the comment. I must say the philosophy of creating a new need for consumers is alarming. We don't want to create a lie or falsehood of need, but a trust and loyalty of truth. For me its more about bringing the truth to the forefront. I have heard the saying, "Marketing is pornography for consumers". I'd like to avoid adding to that stereotype."
- Blake Howard
"REAL value is what is key here. What's unique about this economic situation is that it causes us to re-evaluate and not keep doing the same old thing just because it worked then. What worked then may not work now, and so we have to drill down and find the core of what really makes a difference.

In my opinion, the two real needs a company has are a valid and true brand that sticks out in the mind of the consumer and a heck of a customer service department. Whether online, in person or on the phone, customer service reps are THE primary touch point a consumer has with a "living brand" and can make or break the way we feel about a brand."
- Brittany

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