Needs over Wants
Don't only talk to your customers, observe them to find their needs.
Wants create short bursts but needs create a solid foundation
The endless wants of human beings is virtually insatiable. Even though a lot of companies have reached financial success by focusing primarily on wants (tobacco, fast fashion, gambling, sugar drinks, social media...) longevity of these industries are always in jeopardy against regulations, social movements and widespread education. If you are an innovator that can steer resources, it is wiser to focus on products and services that deliver towards people's needs than wants. Needs emanate from problems or innate qualities of being a human. The further down your offering is on the Maslow's Hierarchy of Needs, the more longevity and stability you can expect from your initiative of business. This also applies to smaller decision points... Talking to your customers will unearth their wants but observing them will unearth their needs.
Example:
For example, let's take the context of smart homes. We have observed that the wants of the customers are absolutely endless whereas their needs are simpler but more meaningful. Such as skipping chores to spend more time with family or to make the home feel safer for kids. The wants such as bulbs with millions of colors might drive short term sales but they fail in usage and engagement. Long-term these "want" purchases lead to regret and negative impact on brand perception.
© 2025 Bilgi Karan