55 Examples of Market Needs

John Spacey, updated on April 15, 2024

Market needs are the demands and requirements of a target market. Identifying valuable customer needs that you can fulfill better than the competition is a basic element of business planning and product development. If you're a small firm, you ideally want to find needs that are unmet by current offerings that represent a large enough market to meet your sales targets. The following are common examples of market needs.

Accessibility	Adventure
Affordability	Belonging
Colors	Comfort
Communication	Compatibility
Connectivity	Convenience
Cultural Experiences	Customization
Durability	Efficiency
Emotional Needs	Energy
Entertainment	Environmental Responsibility
Experiences	Fair Terms
Features	Functionality
Hygiene	Identity
Independence	Information
Language Needs	Leisure
Look & Feel	Mobility
Nourishment	Performance
Personal Development	Privacy
Professional Development	Quality
Quality of Life	Recreation
Relaxation	Reliability
Risk Reduction	Safety
Security	Self-Expression
Social Needs	Social Responsibility
Social Status	Socialization
Specific Ingredients	Specific Materials
Styles	Time-saving
Transportation	Trustworthiness
Wellness

Overview

Market needs are functions, features, experiences, preferences and perceptions that create value for products and services from the perspective of a target market. For example, a homeowner who requires wooden kitchen counters that are durable and scratch resistant.

Summary

Market needs are things that customers require or expect of products or services. It is common for customers to search for something they have in mind and not be able to find it because it doesn't exist exactly as they imagined it. If businesses can identify these holes in the market, some of them may be valuable.