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Briefly explain what is meant by a 'customer need'

User DotPi
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Final answer:

A customer need refers to basic essentials such as food, clothing, and shelter, which can manifest as specific wants for particular products or brands. In economics, these needs and wants drive market demand, which is also dependent on consumers' ability to pay.

Step-by-step explanation:

A customer need is a basic requirement that a consumer must satisfy to survive or to fulfill essential aspects of their wellbeing. These needs include fundamental necessities like food, clothing, and shelter. However, these needs often translate into specific wants, where the general need for an item is expressed as a desire for a particular brand or type of that item.

For instance, the need for food may be articulated as wanting pizza, and the need for clothing may become a want for a specific brand such as Nike tennis shoes. In a broader economic context, needs and wants drive the demand for goods and services.

User Slake
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