Briefly Compare and Contrast the Concepts of Needs, Wants, and Demands

question 21

Essay

Briefly compare and contrast the concepts of needs, wants, and demands and provide examples to illustrate your answer. How do these three concepts relate to marketing practices?

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Definitions:

U-joint Cross

The central component of a universal joint, which allows for the transfer of rotary motion between misaligned shafts.

Spline

A series of ridges or teeth on a drive shaft that mesh with grooves in a mating piece, allowing torque to be transferred while permitting some axial movement.

Yoke

Any of a number of different fork-shaped components. Shift yokes (on shift rails) fit to dog clutches in a transmission to move them in and out of engagement. A pair of drive shaft yokes couple to each other using a U-joint as an intermediary.

Brinelling

Minor indentations on the shoulder or in the valley of a bearing race, usually caused by improper installation.