Instructional Objectives for this activity:
Explain the differences among consumers' wants, needs, and opportunities
Consumers often experience what's called a want-got gap, which describes the discrepancy between their actual situation and their desired situation. Consumers often do not recognize this as a problem that they must attend to.
Identify a number of products that you are looking to buy in the next month to two years. Products should vary from small to more major purchases, and from minor interests to real needs. For each product, identify the following:
The type and brand of product you are considering
The purpose of the product
The time you are willing to invest in researching or searching for the item
Whether you consider the item a want, need, or opportunity (you may want to use Figure 9.7 on page 190 of Consumer Behavior to help with this)