Yes, one of the fundamental laws of every things, the Maslow's Hierarchy. It doesn't need to be stated because everyone is aware of this fact. The need that needs to be fulfilled in this world is the thing that makes everything possible and run. It is the reason that the world is moving forward. It is the engine of life.
Analysing the trends and everything might show us the relationship between the variables and their nature. But ultimately when we ask why then, we need to face Maslow's Hierarchy. All we need is Need.
Supply is dependent upon Demand and the demand is dependent upon need. So its need at the end. In marketing if we can only understand the need of the consumer, then its all we need. We call it a need based approach. That is only the thing that can work. Example:
As soon as Internet was popular, people needed a damn good search engine that could just do search for them. Many tried but Google made it just the right. This is one example and there are more.
But there is one other point that I wanted to make. And that is - we know people buy when they need and when they can afford. But how is possible to make them need which they never thought is necessary. Hmmm. There is where marketing analytics come to play.
Just how is it possible and where should we target?Hmmm. Lets think. Remember one thing, people never stop needing.