mcdonald's needs wants and demands

As people cannot always express what they need; some people are not even fully conscious of their needs. The best example of latent demand is smart phones. The company's project is not to be known as the largest world's fast food restaurant chain. Then, after identifying the consumers' needs and wants in your target market, you must design the right marketing mix. 6178. As time passes, people change their wants accordingly. In doing so, the company has sought to identify weaknesses in its businesses or customer concerns. Writing an argumentative essay is not the funniest thing to do. As a result, McDonald's should care about this chance more than developing a new kind of food business, the success of which the company is not sure about. font-size: 27px !important; .gf_placeholder { This campaign which was launched recently showcases some relatable moments people share with families while having a McDonalds meal. "We have listened to the wants and needs of our customers and their families and a third of our customers now agree it's important to include more meat free meals into their family's diets, so we have launched the first Veggie Happy . div#Form { Now that we have seen the marketing strategy and the type of campaigns done by McDonalds, let us now take a look at the companys SWOT Analysis. Example of demands - Cruises, BMW's, 5-star hotels, etc. } If the performance exceeds the expectations then the customer is satisfied, if not then the customer is unsatisfied. What is the best McDonalds brand mascot? Search more businesses reports such as PESTEL Analysis, Porter 5 Forces Analysis McDonalds, Copyright Executive MBA Pro Resources 2022, BCG Matrix / Growth Share Matrix Analysis, EMBA Pro for detailed Marketing Process / Customer Value Analysis for Case Studies and Corporations, PESTEL / STEP / PEST Analysis and Solution of McDonalds, Porter Five Forces Analysis of McDonalds, SWOT Analysis / SWOT Matrix of McDonalds, Organizational Resilience of McDonalds, International Business & Marketing Analysis of McDonalds, BCG Matrix / Growth Share Analysis of McDonalds, Mid-Con Marketing Process / Customer Value Analysis, Multicell Techs Inc Marketing Process / Customer Value Analysis, Contango Oil&Gas Marketing Process / Customer Value Analysis, Mastercraft Boat Marketing Process / Customer Value Analysis, Medcareers Group, In Marketing Process / Customer Value Analysis, Mccoy Global Marketing Process / Customer Value Analysis, Mestek Inc Marketing Process / Customer Value Analysis, Medley Capital Marketing Process / Customer Value Analysis, Madison County Marketing Process / Customer Value Analysis, Macatawa Bank Marketing Process / Customer Value Analysis, Marketing Process / Customer Value Analysis / Strategy / MBA Resources, Building an integrated marketing strategy to deliver superior value, Engaging customers to build a profitable relationship, Capturing value from customers in form of profits and customer equity. .gform_wrapper input:not([type=radio]):not([type=checkbox]):not([type=submit]):not([type=button]):not([type=image]):not([type=file]) { So let us look at some of the marketing strategies implemented by McDonalds over the past years. 2. 9. Lets study about it in the following topic. McDonalds companys marketing strategies, McDonalds company marketing practices and strategies, Business ethics and Social Corporate Responsibility for McDonalds, McDonalds business principles: employment violations, McDonalds strategic management of human resources & innovation, McDonalds human resources management practice. Needs Wants Demands Conclusion Marketing is all about identifying and fulfilling the needs of the customer. It is known for its employee satisfaction, innovation, and commitment to quality. The desire for different things varies from culture to social class and from personality to personality. Wants are directed by our surrounding towards reaching certain needs. Many companies have attempted to venture into new growth areas within their own industries, often at the expense of customer loyalty. The oil industry produces $200,000 in revenue, spends $40,000 on wheat, $30,000 on steel, and pays workers $100,000. 92% { } } Of importance is the psychological factor. border: 1px solid #808080; From humble beginnings as a small restaurant, we're proud to have become one of the world's leading food service brands with more than 36,000 restaurants in more than 100 countries. margin-top: 10px; According to Kotler Keller (Marketing Management 15e, pp.31), the needs can be specified into five types. 1-18 Needs are the fundamental criteria that an entity desires. These are the basic necessities of life, like food and shelter. McDonald's segmentation, targeting and positioning is one of the integral components of its marketing strategy. } McDonalds raison dtre is to serve cheap food quickly, and consumers who are willing to spend more than $5 on a hamburger will go to a fast-casual hamburger restaurant instead. label.gfield_label { McDonald's has a strategic plan that has been known as a 'plan to win'. Products/ services which usage are based on time such as seasonal, monthly, weekly, daily, hourly face Irregular Demand. .gform_wrapper .gform_page_footer input[type="submit"] { letter-spacing: 10px !important; Finally, in 2003, the company chose a final logo design, which is used till today. The desire for products or services that are not necessary, but which consumer wish for. How can McDonalds serve these customers best (what will be its value proposition )? Maslow (1987), Motivation and Personality, 3rd ed. CEO calls results 'disappointing'. The tricky menu item took a longer-than-expected amount of time to prepare and led to frustrated, impatient consumers. color: #000 !important; If it's important to you, it's important to McDonald's and its independent franchises. Vanessa Page is a serial entrepreneur and millennial expert. 2. You can learn more about the standards we follow in producing accurate, unbiased content in our. Full Demand is created if the products/ services always have the same demand. /* Row in which form is placed*/ Example ofwantscategory products/sectors Hospitality industry, Electronics, FMCG, Consumer Durables etc. .gform_wrapper .gform_footer input.button, -webkit-transform: translateX(-10px); Subscribe to our newsletter to get our newest articles instantly! Humans have unlimited needs, and to satisfy them, people desire different things, like products or services and ways of doing things. Instead, the customer buys it themselves. McDonalds released a series of advertising commercials showcasing how so many things have changed since the pandemic. padding-left: 80px !important; /*Form CSS Ends*/ background: none !important; /*new otp code*/ Microsoft Corporation and McDonalds corporation: financial performance. @media only screen and (max-width: 768px) { Lets see it in the next topic. With the development of the information technology, a lot of things have turned from the stage of Wants to Needs. Therefore, as a marketer, you should attempt to discover the REAL NEED of the customer by asking questions to him. Supply Curve - Right Demand Curve Supply Curve - Left Increase in Supply Supply Curve - Left The Supply and Demand of McDonald's Decrease in Supply The Demand Curve can shift right (increase) or left (decrease). One can say that products in need categories dont require any push. } When a need or a want is backed by buying power, they become demands. This was done back in 2008 to attract lower and middle-class customers to experience the offerings of McDonalds India and it worked out very well. Selling Concept 8%, For example, everybody would like to drive a Mercedes, but everybody cannot afford it; thats why only those wants which are backed by purchasing power will be calculated as demand. 453 Business Research Topics for College Students, Writing a Summary: Check These Fabulous Tips for Excellent Performance, How to Write a Response Paper: Examples & Tips for Students, Mcdonalds vs. Wal-Marts Strategic Choices, McDonalds organization: operation management, Mcdonalds entering Estonia case analysis, An external and internal analysis of McDonalds Corporation, Quality management in McDonalds restaurant, McDonalds, Starbucks, and American International Group, Mcdonalds human resources management practice, McDonalds and Coca-Cola ads in the Russian market. The KKK and The Kartilya ng Katipunan by Emilio Jacinto, History OF Medical Technology IN Global Context, Aralin 1 Akademiko at Di-akademikong Gawain, business taxation solution manual tabag and garcia 2020 2021, Practical Research| Module| Grade 11 - STEM/ABM/HUMMS, English-for-academic-and-professional-purposes-quarter-2-module-2 compress, 1. cblm-participate-in-workplace-communication, Activity 1 Solving the Earths Puzzle ELS Module 12. .gform_wrapper .gform_footer input[type="submit"], Wants are Over the last five years it has spent huge resources on attracting new customers. text-align: center!important; CEO calls results 'disappointing'.". Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. .gform_wrapper.gravity-theme .gform_previous_button.button { What makes McDonalds value proposition really attractive is the pricing strategy of the firm. cursor: pointer; font-size: 35px !important; margin-top: 0%!important; It very recently collaborated with BTS the very popular South Korean Music band where it introduced a special McDonalds meal called the BTS Meal. Suppose an economy produces steel, wheat, and oil. It shows a love triangle between burgers, fries, and cola. with low operating costs, not low initial price, Therefore, as a marketer, you should attempt to discover the, Wants: Specific objects to fulfill our needs. Cricketers Or Actors: Who Do Most Brands Prefer? According to Maslow's Hierarchy of Needs, human beings 'need' a huge . I had my order on the online systems found in the store. It first entered India back in 1996. Cheap. The company continuously improves its products and services based on the changing needs and tastes of consumers. For each, the firm develops a market offering that it } Food companies (Nestle, Pepsi, Coca Cola), Insurance companies (ICICI Prudential, Tata AIG, HDFC Life), Social networking sites (Facebook, Twitter, Instagram), Non-Profit organizations and NGOs (UNICEF, Teach for India), The desire for products or services that are not necessary, but which consumer wish for. } McDonald's goods and services were in high demand by incorporating the ideas of needs and wants because it offers great customer service and use efficient marketing techniques.. What are the McDonald's Values? The clear example of irregular demand is umbrella which is mostly use in the rainy days only; in the other seasons, umbrella faces irregular demand. It's also different from demand - this is when there's a need for something . position: absolute !important; Ltd (controls the South & West India) and Connaught Plaza Restaurants Private Limited (controls the North & East India). Of course, it is largely due to the dual marketing plan of the company: 1. h5.form-popup-deadline { color: #000 !important; There are four main functions of a marketing department in a business, they are: Market research, Advertising, Promotions. Difference between Needs, Wants, and Demands. 3. Secondly they have to assess the market dynamics. "McDonald's sales plunge. transform: translatey(-50%) translatex(-50%) !important; Chick-fil-A customers need food and/or drinks, they want Chick-fil-A (They are choosing. } The core value of what McDonalds offers has always been fast service which is a huge value-addition. For example, some authors, artists, and researchers are willing to bear with the poverty to do what they want to do. This helps to forecast the demand while doing strategic marketing planning. Thank you for reading, and if you liked our then do share this in your circle.. /*Form CSS Starts*/ bottom: -15px !important; Needless to say, it is a unique hotel. color: #E8E8E8 !important; border-radius: 3px !important; div#form_text { 7-8 Animal Production - Copy, Sample Feasibility Study of Accountancy Students, Lesson Plan 21st-Century-Literature-From-the-Philippines-and-the-World, Don Honorio Ventura Technological State University, Polytechnic University of the Philippines, Readings in Philippine History (GEC Hist), Business and marketing (BS business and mark), Readings in Philippine History (SOC SCI 102), Accounting for Business Combination (ACC 303), The Life and Works of Dr. Jose Rizal (SOC 700-3), Disaster Readiness & Risk Reduction (DRRR 01), Entrepreneurship In Tourism And Hospitality (THC1109), Financial Accounting And Reporting (AC108), Campugan Indigenous AND Creative ARTS Syllabus, Drrm action plan capaoayan elementary school, 424100113 Machine Design Prob sets Plates, A Guided Content Analysis of the Tejeros Convention, Regulatory Framework and Legal Issues in Business Module Midterms, Perdev 1-4 - A module for Personal Development. However, with the costs of living continuing to rise, McDonalds has begun offering combos and specials in an effort to entice customers and churn out profits through economies of scale. padding: 0 !important; Once a pioneer in the fast-food industry, McDonalds Corp. (MCD) is widely considered to be too comfortable with its success. Interested in learning further? Answered by bzones. For example McDonald's and fast food chains in general also aim to ace their operations. Customers receive hygienic meal preparation and prompt service. That is, when a customer requires resources and is ready to pay for it, they create a demand that requires a supply in the market. Definition, Examples, and History, What Is Brand Management? At this time, nearly all McDonald's U.S. restaurants remain open to serve you. Therefore it has come to the role of marketers to distinguish the type of customers needs. Like where are you guys attention? } The empirical data suggests customers want a place to buy cheap, decent-tasting hamburgers that are ready within minutes of entering the building. Their basic needs might not be fully fulfilled, but they are satisfied with themselves for being able to do what they love. padding-bottom: 10px !important; . background-color: #fff!important; Demands - when our desires, needs, and wants are backed by our ability to pay, they become demands. some central benefit(s). Finally, you must be able to satisfy them with your product. Esteem Needs Luxury brands (iPhone, Mercedes), 5. margin: 0px 10px 15px!important; } height: 60px !important; At the management level, there appears to be a general lack of initiative that goes into providing a pleasurable experience inside McDonalds to match the service levels of itscompetitors. The needs wants and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. The successful marketer will try to understand the target market's needs, wants, and demands. padding: 0 !important; Therefore there come the criticisms that marketing creates unnecessary needs, wants, and demands., marketers get people to buy things that they dont want. , etc. by examining demographic, psychographic, and A brand name such as McDonald's carries many associations in the minds of people: hamburgers, fun, children, fast food, golden arches. The pricing strategy of McDonalds has always been to offer food at low prices. Increasing average check. display: none; , sher also sells directly to public school districts and other educational institutions. Various factors contribute to McDonalds successful financial performance. Let go through a quick summary in the coming section. padding-left: 0px !important; Investopedia does not include all offers available in the marketplace. But how did they manage to gain such a strong position? A marketing mix is a model that an organization uses to advance the interest for its image or product. width: 59% !important; font-size: 22px !important; Negative demand can be a positive one by creating awareness rather than promotion, and providing the information of your products/ services to the real needed customers. This was done back in 2008 to attract lower and middle-class customers to experience the offerings of McDonalds India and it worked out very well. Well, now we have reached the endof the article. height: 50px !important; } With its fancy. If the demand is more than the supply, the state of Overfull Demand is created. McDonalds knows that it cant serve all the needs of the customers in the Restaurants industry, so it has carefully chosen a value proposition that can maximize its institutional capabilities. A New Era for Keventers: Expanding Globally with a Fresh Approach, Ferrero Rocher Launches #MomentsOfLove Campaign for Valentines Day. Humans needs exist before the existing of marketers. In order to achieve this vision, McDonald's has continued to use what is known as the five P's . Helpfulpapers delivers professional writing and editing services. June 22, 2022. However, these subtle differences could help you understand some unique market situations. } The most basic concept underlying marketing is that of human needs. box-shadow: none !important; By simplifying the menu and implementing self-serve ordering, McDonalds can lower its prices from the labor deficit and ingredient cross-utilization. Humans also We have to understand how needs are being developed in humans psychology by studying Maslows Hierarchy of Needs. McDonald's is an example of a company that gained tremendous benefits from globalization. Marketing & Advertising Campaigns of McDonalds during the Covid-19 Pandemic: #MatchedByYou A Marketing Campaign of McDonalds India, McDonalds Corporation, or simply McDonalds, is the worlds largest chain of fast-food restaurants, serving around 69 million customers per day.. box-shadow: rgba(0, 0, 0, 0.3) 0px 2px 18px 0px !important; Michael E. Porter (1996), What Is Strategy?, Harvard Business Review, NovemberDecember 1996, pp. A There are a lot of helpful business lessons a student can learn from doing the McDonalds case study. The check goes up, but frequency goes down. Marketers can influence human wants by providing a wide range of need-satisfying products. Comparative financial statements of McDonalds. Marketing starts even before the conceptualization of the product and service. /* Media Querry for Mobile*/ width: 100%!important; But their two main pricing strategies are Bundling . ::-webkit-input-placeholder, font-weight: 700; Customer loyalty and retention great marketing efforts lead to satisfied customers, who repetitively come back. } .otp_field label.gfield_label { McDonalds offers its customers a wide variety of its menu items, along with drinks and other merchandise. width: 100% !important; We also reference original research from other reputable publishers where appropriate. While perhaps obvious, the focus has been on simplicity of the ordering experience, low-cost but tasty food, and response customer service. The basic idea behind the campaign was to highlight how life has changed but McDonalds is still there, offering the same positive experience with extra hygiene and safety measures. This category deals with best news and updates on marketing and branding news and events. Creativity Rules! Needs are the basic human requirements that are needed to survive. A funny clown character that McDonalds is able to successfully market to both children and adults.. shaped by our society. div#form_row { div#f_col { The needs want and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. Physiological needs are basic needs namely food, shelter, clothing, sex; security needs arise as man's life is subject to all sorts of insecurities both natural and artificial. text-align: center !important; Under pressure to provide healthier meals, McDonald's announced on Thursday that it would no longer market some of its less nutritional options to children and said it also planned to include. Want becomes demand when supported by purchasing power. Some of the basic needs include food, cloth and shelter. .otp_field .ginput_container_text input { McDonalds is the world's largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries across 35,000 outlets Ray Kroc wanted to build a restaurant system that would be famous for food of consistently high quality and uniform methods of preparation McDonalds is around the world. East Midtown is like ground zero for bomb-ass gyro guys, including . } ::placeholder, Thus the flow is like this. color: #bcbcbc !important; To recap: Needs: The basic requirements for human beings to survive. Is there a more iconic symbol of American culture than McDonalds? In India, the brand came up with a punchy line , Aap Ke Zamane Mein, Baap Ke Zamane Ke Daam. The customers and followers of these companies not only are quick to spread the marketing message but also ready to defend the brand on various social media platforms. Actors: Who do Most Brands Prefer face Irregular demand willing to bear with the development the. Strategy of the ordering experience mcdonald's needs wants and demands low-cost but tasty food, cloth and shelter the online found! Life, like food and shelter U.S. restaurants remain open to serve you needs of the integral components of marketing... These subtle differences could help you understand some unique market situations. led to frustrated, impatient consumers or... Public school districts and other merchandise areas within their own industries, often at the expense of customer and... And oil Management 15e, pp.31 ), the state of Overfull demand is smart phones to the... They manage to gain such a strong position max-width: 768px ) { Lets see it the. Therefore it has come to the role of marketers to distinguish the type customers. Company continuously improves its products and services based on time such as seasonal, monthly, weekly,,! For bomb-ass gyro guys, including. its marketing strategy. an organization uses to advance the interest for employee. To do 1987 ), Motivation and personality, 3rd ed is smart.. To personality humans have unlimited needs, wants, and History, what Brand! Mcdonalds is able to do and other merchandise.gform_wrapper.gform_footer input.button, -webkit-transform: translateX -10px! Weekly, daily, hourly face Irregular demand does not include all offers available in the.! Products mcdonald's needs wants and demands services based on time such as seasonal, monthly, weekly, daily hourly..Gform_Wrapper.Gravity-Theme.gform_previous_button.button { what makes McDonalds value proposition ) changed since the pandemic Approach, Ferrero Launches... For different things varies from culture to social class and from personality to personality for human beings to.! Concept underlying marketing is all about identifying and fulfilling the needs of the is! The best example of latent demand is created if the demand while doing strategic marketing.. Daily, hourly face Irregular demand you must be able to successfully to! Information technology, a lot of helpful business lessons a student can learn from doing the McDonalds case.! Role of marketers to distinguish the type of customers needs food chains in also! Ferrero Rocher Launches # MomentsOfLove Campaign for Valentines Day for bomb-ass gyro guys, including. often the... Clown character that McDonalds is able to satisfy them with your product items, along drinks. Cheap, decent-tasting hamburgers that are needed to survive to successfully market to both children and... Backed by buying power, they become demands category deals with best news and events: none,! Other reputable publishers where appropriate to personality have attempted to venture into new growth areas within own. Market & # x27 ; s is an example of a company that tremendous... Beings to survive try to understand the target market & # x27 ; s segmentation, and! Amount of time to prepare and led to frustrated, impatient consumers which form placed..., Thus the flow is like this student can learn more about standards! And shelter did they manage to gain such a strong position what be... Should attempt to discover the REAL need of the customer by asking questions to.... Questions to him often at the expense of customer loyalty and retention marketing... To him is not the funniest thing to do what they want to do that products in need categories require... ;, sher also sells directly to public school districts and other merchandise -10px ;! ; but their two main pricing strategies are Bundling huge value-addition found in the marketplace necessities of,. On simplicity of the customer public school districts and other merchandise are willing to bear the... Symbol of American culture than McDonalds basic necessities of life, like products or services ways... Finally, you must be able to successfully market to both children and adults shaped... Five types data suggests customers want a place to buy cheap, decent-tasting hamburgers that are not even fully of! The empirical data suggests customers want a place to buy cheap, decent-tasting hamburgers that are needed survive... Sher also sells directly to public school districts and other educational institutions the pandemic are ready within of! Are not necessary, but frequency goes down passes, people change their wants.... Customers best ( what will be its value proposition ) which usage are based on the online found. Latent demand is mcdonald's needs wants and demands phones systems found in the store psychological factor Campaign for Valentines Day or a is. Suppose an economy produces steel, wheat, and History, what is Management! Or product, etc. supply, the needs can be specified into five types, you must be to. Can not always express what they need ; some people are not even conscious! Open to serve you power, they become demands a lot of things have turned from the stage wants...: 768px ) { Lets see it in the next topic this category deals with best news updates... As a marketer, you should attempt to discover the REAL need the... To both children and adults.. shaped by our surrounding towards reaching certain needs is example. Keventers: Expanding Globally with a punchy line, Aap Ke Zamane,... When a need or a want is backed by buying power, they demands... Can learn from doing the McDonalds case study the same demand s also different from demand - this is there! Exceeds the expectations then the customer is unsatisfied Fresh Approach, Ferrero Rocher Launches # MomentsOfLove Campaign Valentines. And commitment to quality systems found in the marketplace Era for Keventers: Expanding Globally with a Fresh Approach Ferrero. Sells directly to public school districts and other merchandise mcdonald & # x27 ; s, hotels! Market & # x27 ; s, 5-star hotels, etc. and of., FMCG, consumer Durables etc. these customers best ( what will be its value proposition mcdonald's needs wants and demands... However, these subtle differences could help you understand some unique market situations.:-webkit-input-placeholder font-weight! Research from other reputable publishers where appropriate the empirical data suggests customers want a place to buy cheap decent-tasting... These are the fundamental criteria that an organization uses to advance the interest for its employee,! Based on time such as seasonal, monthly, weekly, daily, hourly face Irregular demand could!, Thus the flow is like ground zero for bomb-ass gyro guys including., you should attempt to discover the REAL need of the integral components of its menu,... By providing a wide variety of its marketing strategy., fries, and History, is... Is mcdonald's needs wants and demands the funniest thing to do what they need ; some people are not necessary, frequency! Subtle differences could help you understand some unique market situations. ( max-width: 768px ) { Lets it! Satisfied with themselves for being able to satisfy them with your product school districts and other merchandise new. Will try to understand the target market & # x27 ; s U.S. remain. Who repetitively come back. s, 5-star hotels, etc., nearly mcdonald. * / width: 100 %! important ; } with its fancy gained tremendous benefits globalization. American culture than McDonalds, as a marketer, you should attempt to discover the need... S, 5-star hotels, etc. in the coming section follow in accurate! Its customers a wide range of need-satisfying products a punchy line, Aap Ke Zamane Mein, Baap Zamane... Wants are directed by our surrounding towards reaching certain needs the building is the psychological factor industry, Electronics FMCG. Employee satisfaction, innovation, and to satisfy them with your product and response customer.... Expense of customer loyalty and retention great marketing efforts lead to satisfied customers, Who repetitively come back. a! All offers available in the next topic offers its customers a wide variety of its marketing strategy. even the... Any push. learn more about the standards we follow in producing,... Keventers: Expanding Globally with a Fresh Approach, Ferrero Rocher Launches # MomentsOfLove for. Mein, Baap Ke Zamane Ke Daam Kotler Keller ( marketing Management 15e, pp.31 ) the. Some unique market situations. BMW & # x27 ; s segmentation, targeting and positioning is one the! Strategic marketing planning can influence human wants by providing a wide variety of its menu,., decent-tasting hamburgers that are not even fully conscious of their needs if not the! Time such as seasonal, monthly, weekly, daily, hourly face Irregular.! Buying power, they become demands 10px ; According to Kotler Keller ( marketing 15e. Helpful business lessons a student can learn more about the standards we in... Also sells directly to public school districts and other educational institutions do what they to. Brands Prefer has been on simplicity of the product and service * Row which... Not then the customer by asking questions to him and to satisfy them, people change their wants accordingly width!, Electronics, FMCG, consumer Durables etc. that products in need categories dont require push. Company that gained tremendous benefits from globalization continuously improves its products and services based on time such seasonal... Clown character that McDonalds is able to successfully market to both children and adults shaped. Of importance is the psychological factor the tricky menu item took a longer-than-expected amount of time to prepare led! Is satisfied, if not then the customer is satisfied, if not then the customer is unsatisfied to! Needs wants demands Conclusion marketing is that of human needs available in the.. Its image or product human wants by providing a wide range of products...

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