MATSEC IM Marketing Practice Questions - Malta Intermediate Matriculation (IM) Marketing - IM 23 (2026) Exam

In marketing terms, what is the difference between a need and a want?

Needs are shaped by culture and personality; wants are basic states of felt deprivation Needs are basic states of felt deprivation; wants are the form needs take when shaped by culture and individual personality Needs and wants are identical concepts Wants only apply to industrial buyers

Correct Answer:

Needs are basic states of felt deprivation; wants are the form needs take when shaped by culture and individual personality

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